press launch
PRESS RELEASE. Ardana, the asset-backed stablecoin protocol and decentralized alternate, has attracted $10 million of funding in its newest strategic funding spherical.
The Cardano-powered platform, whose founding staff options tech veterans from Apple, Microsoft, Barclays and Cardano, received assist from cFund, Morningstar Ventures, Mechanism Capital, Kronos Analysis, FMFW.io, MGNR, Selini Capital, Skynet Buying and selling, Kosmos VC and Portico Ventures amongst others in a spherical led by Three Arrows Capital and Ascensive Property.
“To say we’re thrilled to welcome aboard a number of the best-known names within the non-public fairness house can be an understatement,” mentioned Ardana CEO and co-founder Ryan Matovu.
“As the primary all-in-one stablecoin ecosystem constructed on Cardano, our platform gives customers with handy entry to liquidity, an ever-present concern within the hyper-competitive defi world. We’re additionally capable of leverage Cardano’s pace, scalability and safety to supply a decentralized monetary resolution that works for everybody, and shortly we’ll even be facilitating international alternate on-chain.
“Together with the traders’ experience, this funding will permit us to ascertain Ardana as one of many premier defi gateways on the Cardano blockchain. The long run is shiny.”
At the moment gearing up for a Token Era Occasion and Public Sale in This fall, Ardana combines a DEX secure asset liquidity pool and asset-backed, absolutely decentralized stablecoin protocol. Via the latter, ADA token-holders can use their belongings as collateral in opposition to an economical mortgage denominated within the dollar-pegged dUSD stablecoin.
This Ardana Greenback makes use of sensible contracts to let customers mint, spend, ship and obtain dUSD on the Cardano blockchain, with all {dollars} absolutely backed by collateralized belongings comparable to ADA. When customers deposit ADA into the permissionless, noncustodial Ardana vault, they obtain a proportion of its worth again as a newly-minted dUSD mortgage which, when repaid, unlocks their collateral.
The Danaswap DEX, in the meantime, facilitates extremely capital-efficient buying and selling between stablecoins and tokens representing equivalent belongings comparable to artificial Bitcoin. Danaswap additionally permits customers to earn curiosity from dUSD deposits, in addition to a share of market-making charges generated through the app.
A second native Ardana asset, DANA, capabilities as a utility and governance token, conferring voting rights on modifications to the challenge’s parameters in addition to a share of platform charges.
Resulting from a current partnership with NEAR protocol, Ardana’s decentralized stablecoin will quickly have utility throughout chains through bridging infrastructure, making it the primary collateralized stablecoin mortgage providing for each ADA and EGLD.
About Ardana
Ardana is an asset-backed stablecoin and decentralized alternate secure asset liquidity pool constructed on Cardano. Based by a core staff of fintech and blockchain veterans, the platform has pioneered a dollar-backed Cardano native token and extremely capital-efficient DEX, enabling customers to diversify their portfolio with out promoting their present belongings.
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