By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Cardano Stablecoin Protocol Ardana Toasts $10m Capital Injection Led by Three Arrows Capital and Ascensive Assets
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > News > CRYPTOPEDIA > BITCOIN NEWS > Cardano Stablecoin Protocol Ardana Toasts $10m Capital Injection Led by Three Arrows Capital and Ascensive Assets
BITCOIN NEWSNews

Cardano Stablecoin Protocol Ardana Toasts $10m Capital Injection Led by Three Arrows Capital and Ascensive Assets

NFT Studio 24
Posted NFT Studio 24 October 29, 2021 424 Views 3 Min Read
Updated 2023/01/25 at 7:41 PM
bitcoinnews
SHARE

PRESS RELEASE
Ardana, the asset-backed stablecoin protocol and decentralized exchange, has attracted $10 million of investment in its latest strategic funding round.

The Cardano-powered platform, whose founding team features tech veterans from Apple, Microsoft, Barclays and Cardano, won support from cFund, Morningstar Ventures, Mechanism Capital, Kronos Research, FMFW.io, MGNR, Selini Capital, Skynet Trading, Kosmos VC and Portico Ventures amongst others in a round led by Three Arrows Capital and Ascensive Assets.

“To say we are thrilled to welcome aboard some of the best-known names in the private equity space would be an understatement,” said Ardana CEO and co-founder Ryan Matovu.

“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.

“Along with the investors’ expertise, this funding will allow us to establish Ardana as one of the premier defi gateways on the Cardano blockchain. The future is bright.”

Currently gearing up for a Token Generation Event and Public Sale in Q4, Ardana combines a DEX stable asset liquidity pool and asset-backed, fully decentralized stablecoin protocol. Through the latter, ADA token-holders can use their assets as collateral against a cost-effective loan denominated in the dollar-pegged dUSD stablecoin.

This Ardana Dollar uses smart contracts to let users mint, spend, send and receive dUSD on the Cardano blockchain, with all dollars fully backed by collateralized assets such as ADA. When users deposit ADA into the permissionless, noncustodial Ardana vault, they receive a proportion of its value back as a newly-minted dUSD loan which, when repaid, unlocks their collateral.

The Danaswap DEX, meanwhile, facilitates highly capital-efficient trading between stablecoins and tokens representing identical assets such as synthetic Bitcoin. Danaswap also allows users to earn interest from dUSD deposits, as well as a percentage of market-making fees generated via the app.

A second native Ardana asset, DANA, functions as a utility and governance token, conferring voting rights on changes to the project’s parameters as well as a share of platform fees.

Due to a recent partnership with NEAR protocol, Ardana’s decentralized stablecoin will soon have utility across chains via bridging infrastructure, making it the first collateralized stablecoin loan offering for both ADA and EGLD.

Read More: https://news.bitcoin.com/

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Dogecoin Other Dog (and Cat)-Themed Coins Pump as Shiba Inu and Dogecoin Keep Fighting
Next Article nft-plazas NFT Plazas Sponsors NFT NYC Conference

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

Azukis Twitter account hackers steal 750K in half an hour
Azuki’s Twitter account hackers steal $750K in half an hour
LATEST NFT NEWS & METAVERSE News January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWS News January 29, 2023
Blockchain Fest Singapore 2023 nftstudio24
FINEXPO Presents Blockchain Fest Singapore 2023
Blockchain Fest Singapore 2023 will be The Largest Event in Asia
EVENTS PRESS RELEASE January 28, 2023
Join us
Ad imageAd image

You Might also Like

Azukis Twitter account hackers steal 750K in half an hour
LATEST NFT NEWS & METAVERSENews

Azuki’s Twitter account hackers steal $750K in half an hour

January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWSNews

Michael Saylor says Bank of America has embraced Bitcoin

January 29, 2023
Bidstack signs a deal with SimWin Sports for virtual league
LATEST NFT NEWS & METAVERSENews

Bidstacks signs a deal with SimWin Sports for virtual league

January 28, 2023
Investor Josef Holm visits India with his Web3 Venture fund
India's Web3 & Metaverse NewsNewsWEB3

Investor Josef Holm visits India with his Web3 Venture fund

January 28, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?