Cardano stablecoin protocol Ardana secure a $10M through a funding round
The Stablecoin project in the Cardano ecosystem secured a total of $10 million through their latest fundraising round.
Ardana is a stablecoin based crypto project in the Cardano Blockchain network. Recently a fundraising round for Ardana was led by the Three Arrows Capital and Ascensive Assets.
So, in the collaborative approach of Three Arrows Capital and Ascensive Assets, Ardana secured a 10 million dollar fund for the better development of the Cardano based stablecoins project novel.
The founder and co-founder of Aradan, Ryan Matovu, shared their excitement about fundraising and stated
“As the first all-in-one stablecoin ecosystem built on Cardano, our platform provides users with convenient access to liquidity, an ever-present concern in the hyper-competitive DeFi world. We are also able to leverage Cardano’s speed, scalability and security to offer a decentralized financial solution that works for everyone, and soon we’ll even be facilitating foreign exchange on-chain.”
The new stablecoin name symbol will be DUSD. The users will be able to send, receive, store, borrow and lend DUSD on the Cardano ecosystem easily. And also they asserted that DUSD will be fully backed by flagship Crypto-assets like ADA coin in the form of collateral funds.
Right now, Ardana is looking for the public sale of DANA tokens. The company is planning for the token sale by 2022 and they will sell 35.625 million out of 125 million tokens in the price range of $0.3 to $0.6.
Alongside running of the Dana token, the team will launch its DEX (Danaswap) and swap will allow people to make Earnings through the Yield products option.
Boost in Cardano Blockchain ecosystem development
The projects on the Cardano ecosystem are crazy to deploy their services and products.
After the Alonzo hard fork in the Cardano Blockchain, the Cardano ecosystem sees huge growth of the projects.
At present, the Cardano network gives a better alternative option against Ethereum because transaction fees are less than 100 times less on the Cardano network over the Ethereum network.
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