What is Ardana? All-in-One Stablecoin Ecosystem Built on Cardano
Without Ardana, it would be hard for free-flowing liquid capital to enter the Cardano ecosystem. Ardana is helping Cardino be ready to attract cash flow and continue its journey with DeFi.
6 years since the early development of Cardano, it is still one of the leading blockchain projects, with one of the top cryptocurrencies by market cap.
Cardano’s initial goal was more focused on real-world applications than on blockchain and DeFi. However, amid the ICO downturn, the ecosystem has widened its visionary objective to Decentralized Finance.
Learn More About Ardana
Cardano’s mission was to develop an out-of-the-box ecosystem that overcomes the shortcomings of predecessors like Bitcoin, Ethereum, and others. Cardano has been moving toward cheaper, faster, and more scalable transaction solutions.
The team at Cardano is working to design and develop the infrastructure that will allow dApps to function on the Cardano network with the launch of the smart contract.
All things considered, the Cardano ecosystem is the best natural fit for the launch of Ardana – a platform that combines AMM DEX and stablecoin issuance.
Built on the Cardano blockchain, Ardana is an asset-backed stablecoin protocol and decentralized trade assets.
In addition to having on-chain Cardano native assets and a decentralized exchange, the stablecoin also has a decentralized exchange that enables capital-efficient transactions between stablecoins.
Taking DeFi to the Next Level
Building an ecosystem that goes beyond existing standards, the Ardana protocol is on a mission to deliver a decentralized financial system that works for everyone, from multinational financial institutions to Ethiopian farmers.
Ardana will spread beyond the central protocols that provide financial efficiency and yield production. It will also serve as Cardano’s MakerDAO, which means it is able to generate a stablecoin in the form of a US dollar dubbed dUSD using ADA as collateral.
Notably, the Ardana team includes the technical talent of reputable blockchain companies and projects such as Apple, Microsoft, Barclays Bank, Central Bank of Jordan, Jane Street Capital, Mina Protocol, Cardano, and Plutus Pioneer Program.
Additionally, Ardana has partnered with many high-tech companies and extensive-profile blockchain firms such as Platonic Systems, Elrond, Liquid, and Coti Network.
By the end of September, Cardino – the ecosystem that backs Ardana – revealed the plan to issue a new stablecoin in collaboration with Coti.
Ardana’s Key Features
Ardana Token ($DANA)
$DANA is Ardana’s native token that empowers the Ardana network. $DANA holders are able to vote on governance decisions within the network.
If there is a proposal to upgrade, the holders, apart from making proposals, can also vote on whether to upgrade or not.
The voting right gives $DANA holders a greater say in the projects that will develop. The native token also enables holders to support the Ardana ecosystem by providing liquidity.
- Ticker: $DANA
- Total supply: 125,000,000
- Initial market cap: $3,412,500
- Token allocation:
- Rewards: 40%
- Ecosystem Development and Treasury: 16%
- Founders, Team & Advisors: 15%
- Private Round: 17.5%
- Seed Round: 9%
- Public Round: 2%
- Liquidity: 0.5%
Ardana Stablecoin (dUSD)
Like thousands of cryptocurrencies available on the market today, the goal of Ardana stablecoin is to bring an ideal solution that allows users to borrow stables without facing the risk of high charges.
Ardana stablecoin, dubbed dUSD, is backed by the US Dollar (USD) and issued as Cardano Native Token.
That means dUSD is held as collateral for each cryptocurrency issued to you. The price of 1 dUSD is always equal to 1 US Dollar. DUSD on Cardano has many similarities to bUSD and USDT
Fiat-collateralized stablecoins are the most popular and most used stablecoins in today’s cryptocurrency market.
However, these coins are perceived as vulnerable to fraud because they are issued by centralized organizations and entities with their regulations and protocols. As backed by reliable Cardano, dUSD is easy and safe to create, access, and utilize.
With Ardana Stablecoins, users have the ability to generate stablecoins in exchange for CNT collateral deposits that have been locked in Ardana stablecoin vaults.
To earn dUSD, users need to place collateral assets into Ardana Vaults, which is under the performance of Collateralized Debt Positions (CDPs) – unique smart contracts.
From this point, dUSD is placed into circulation, and users acquire access to liquid assets.
Another way to receive dUSD is by purchasing it via brokers or exchanges, or by simply accepting it as a form of payment.
Once dUSD has been generated, purchased, or received, it can perform the same function as digital assets and traditional currencies, is used for payment transactions. In other words, dUSDs are now used as a unit of record, a medium of exchange, or a store of value.
All dUSD transactions are transparent and open to the community, everyone can see them on the Cardano blockchain.
Powered by the Cardano blockchain, Danaswap is part of Ardana’s strategic plan to bring an automated market maker (AMM) decentralized exchange for stable multi-asset pools.
Its invariant curve formula is capable of achieving 50-100x capital efficiency, and it is a Cardano DeFi Landscape with Efficient Cardano DeFi.
Danaswap allows dUSD swaps to Bitcoins and other altcoins. The DanaSwap model, which only allows stablecoin contributions, is capable of eliminating the risk of high gas fees and substantial slippage when trading.
In addition, Ardana’s decentralized AMM mechanism allows anyone to contribute to the pool, increasing liquidity and maximizing yield farming. Through this activity, pool providers are also entitled to a portion of the transaction fee
Danaswap also has many features such as depositing savings, exchanging foreign currencies, DANA token and governance.
- Savings Account: The feature enables users to generate passive income through interest payments. It functions in the same way as traditional banks, in which users set up and build interest in their saving account.
- Foreign Exchange: Swapping between other stablecoins is now simple. A wide range of options such as dUSD, dEUR, dGBP, and more.
- DANA Token: Liquidity providers are rewarded with the governance token due to their contributions to the ecosystem.
- Governance: As mentioned above, holders of DANA tokens have the right to participate in polls and future proposals in order to encourage the growth of Ardana.
Ardana Stablecoin Vaults
Collateralized assets can be used to mint Ardana stablecoins through the Ardana Vaults using smart contracts.
This means that anyone can use Ardana Vaults while still maintaining full ownership of their funds as long as they keep adequate collateral to loan ratio in place.
Ardana Rewards Enhancement Module (AREM)
AREM, or Ardana Reward Enhancement Module, is similar to a rewarding program. DANA token holders are rewarded with a portion of the platform fees collected from Ardana Stablecoins and Danaswap.
To receive rewards, holders can stake DANA tokens in exchange for exDANA earnings. They can also obtain them through liquidity provision or placing dUSD in the Ardana Savings Module.
Ardana distributes fees in the form of ADA. Fees earned by the network are distributed to DANA token holders, who can use their tokens to stake and earn ADA as a reward.
Final Thoughts on Ardana
Backed by a trusted blockchain platform, Ardana is the decentralized stablecoin hub that represents an opportunity for the ecosystem Cardano to extend its unlimited potential and achieve success.
A key to Ardana’s reputation is a reputable development team. You can keep up with Ardana on its website – and learn more about how the platform is taking Cardano’s functionality to the next level!