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Ardana Protocol presents two major projects

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Ardana's protocol
Ardana’s protocol. Source: Ardana / Twitter

Cardano is probably one of the fastest growing networks in the world of cryptocurrencies. Since the summit, which took place a few weeks ago, it has been creating one collaboration after another. This time we will look at the protocol Ardana, which he obtained $ 10 million.

Ardana protocol

Ardana is basically a stablecoin ecosystem works on Cardano blockchain. This promising project managed to raise $ 10 million from very important investors. It’s a company Three Arrows Capital and Ascensive Assets.

An important event was also commented by the general director of the Ardana project Ryan Matovu:

“As the first all-in-one stablecoin ecosystem built on Cardano, our platform provides users with convenient access to liquidity, which is still a current issue in the hyper-competitive world of DeFi. We are also able to take advantage of the speed, scalability and security of Cardano. We offer a decentralized financial solution that works for everyone, and soon we will even have an easier exchange of foreign currencies. “

Stablecoin dUSD

Ardana is behind the stablecoin dUSD. Users can send, receive, store and lend this token. dUSD has a 1: 1 rate with USD and will also be covered by the cryptocurrency ADA.

However, in addition to stablecoin, Ardana is preparing another very interesting token called GIVEN. This will be used for the protocol management itself. The sale should take place later this year. According to the developers, a total of 125 million tokens will be available, while the first 35 million will be sold for $ 0.3 to $ 0.6.

Cardano is Ethereum’s biggest competitor and literally overwhelms it in terms of transaction fees. The average cost in an ADA network is approximately $ 0.43. In the case of ETH, it is astronomical 47 USD.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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