$ADA Why is ADA called a coin and not a token? The ADA coin is the native cryptocurrency of the Cardano project, developed on its own blockchain, which is why. It was named after the 19th-century mathematician Ada Lovelace, and at the time of its IPO, ADA was valued at $0.02. The ADA coin is at the center of the entire Cardano ecosystem. It is used for various functions, such as network security and transaction payments. Every ADA holder also has a stake in the Cardano network. ADA stored in a wallet can be delegated to a staking pool to earn rewards (for participating in the successful governance of the network) or a special staking pool can be created to increase the likelihood of the pool earning rewards. Over time, it is planned that ADA will be available for various applications and services on the Cardano platform.