Ardana, the ecosystem for the design of stablecoins on Cardano, raised USD $ 10 million in round of financing – DiarioBitcoin

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Ardana, the ecosystem for the design of stablecoins on Cardano, raised USD $ 10 million in round of financing - DiarioBitcoin By Angel Di Matteo @shadowargel

The round organized by Ardana had the participation of Three Arrows Capital and Ascensive Assets. In addition to a stablecoin, Among the team’s plans is to launch a decentralized exchange next year.

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The ecosystem for stablecoin design built on the network of Cardano, Ardana, raised about $ 10 million in an initial investment round.

Ardana raises USD $ 10 million

This was indicated by the team of Ardana in a statement published today, where they report that the round had the participation of Three Arrows Capital and Ascensive Assets, entities that led the collection made for the project.

In this regard, the CEO and co-founder of Ardana, Ryan Matovu, commented:

“As the first all-in-one stablecoin ecosystem built on Cardano, our platform provides users with convenient access to liquidity, a concern that is always present in the hyper-competitive world of DeFi. We can also take advantage of the speed, scalability and security of Cardano to offer a decentralized financial solution that works for everyone, and soon we will even be facilitating the exchange of currencies on the network ”.

In accordance with the proposal of Adara, The platform itself will allow users to send, receive, store, request and make loans with the stablecoin sponsored by the project, better known as DUSD. All operations with said currency can be carried out with total freedom over the network, and the currency will be linked in a 1 = 1 ratio with the US dollar, backed with cryptocurrencies such as ADA from Cardano.

Plans Ardana with Cardano

But this collection is not the only one contemplated by the team of Ardana, since among the plans is to carry out the public sale of its governance token, better known as DANA, which would be thought for the end of this year.

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Another plan is the launch of a decentralized exchange (DEX) called Danaswap, which is planned for mid-2022. Regarding this platform, it is expected to offer all the benefits associated with this type of platform, including yield farming systems for liquidity providers.

As such, the plans Ardana go hand in hand with the emphasis placed by the Cardano in providing support within its network for projects in space DeFi. Let us bear in mind that a few months ago the long-awaited Alonzo update was launched, with which smart contracts officially arrived in its ecosystem Blockchain, adapting it for a greater number of use cases.

Regarding the existence of stablecoins on the network of Cardano, the payment company COTI announced at the end of September its plans to launch a coin of this kind called Djed, which will be backed by algorithmic principles to maintain its parity with the US dollar.


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Source: Cointelegraph, Ardana

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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