Ardana Cometh: Cardano's DeFi and Stablecoin Hub Picking Up Steam as New Partners are Unveiled

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 Cardano’s DeFi and Stablecoin Hub Picking Up Steam as New Partners are Unveiled

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Popular and exciting decentralized proof-of-stake blockchain/ecosystem Cardano has been in the game for a few years now. Cardano has come into a terrain that has proof-of-work solutions like Ethereum and is gaining traction.

The platform sets out as the only comprehensive peer-reviewed platform in the crypto space to enhance interoperability, scalability, and sustainability. More so, the Cardano team is dedicated to following several philosophies that help it grow its stock of innovative features, the most recent of which is its DeFi platform and Stablecoin, Ardana.

Ardana was created in early 2021 and is set to be one of the biggest and brightest parts of the Cardano ecosystem yet. It is built on Cardano as a proof-of-stake platform that offers unrivaled security and sustainability to decentralized apps. 

Ardana’s most recent partnership is with new blockchain architecture Elrond while others include cFund and COTI. Let’s find out what Ardana has been up to and what its plans, concepts, and collaborations for the future are.

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About Ardana, Cardano’s Decentralized Stablecoin Hub

Ardana provides an on-chain and asset-backed stablecoin along with a decentralized stable asset DEX for the Cardano ecosystem. It is a decentralized stablecoin working to bring the relevant DeFi primitives necessary to maintain any economy on Cardano.

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More so, Ardana serves as a hub where other projects and developers can build on and access stable liquidity. One of its goals is to create a sustainable ecosystem focused on a solid decentralized liquidity foundation.

As a DEX, Ardana permits very efficient trading between stablecoins and assets that have low-risk income via fees from users that provide liquidity. Ardana aspires to issue Ardana Dollar (dUSD), a decentralized on-chain asset-backed stablecoin. Users can spend, mint, and exchange dUSD across the Cardano ecosystem.

Ardana token (DANA) will power and govern the Ardana network. Its holders can profit from engaging in several yields generating activities, vote to decide the factors that control the whole system, and propose new directions for the project.

Here’s Ardana’s Roadmap From 2021 To At Least 2023

Despite being up and running only for a few months, Ardana is already making giant strides with its plans, concepts, and strategic partnerships. Here’s a look at Ardana’s roadmap between 2021 and 2023:

#Quarter 1 of 2021

  • Project Conception
  • Danaswap Development

#Quarter 2 of 2021

  • Stablecoin Development
  • Seed Sale
  • Whitepaper Release

#Quarter 3 of 2021

  • Plutus Contract Audits
  • Private Sale
  • Ardana Academy Opening
  • AREM Development

#Quarter 4 of 2021

  • Public Sale
  • Token Generation Event
  • Stablecoin Release
  • Danaswap Release

#Quarter 1 of 2022

  • Further Wallet Integration
  • CEX Listing
  • Liquidity Incentives Program

#Quarter 2 of 2022

  • Danaswap V2 Release
  • Community Ambassador Program

#Quarter 3 of 2022

  • Danaswap Foreign Exchange
  • Third-Party Integration Expansion
  • Partnership Program Integrations

#Quarter 4 of 2022

  • Multisignature Protocol Release
  • Tokenized Asset Vaults

#Quarter 1 of 2023 and beyond

  • Governance Transition
  • Alternative Stablecoin Currency Vaults
  • Mobile Application
  • Real World Asset Vaults
  • Fiat Gateways
  • Institutional Platform Development

Latest Key and Strategic Partnerships Ardana Has Made Till Date

The blockchain space allows for protocols, platforms, and solutions to grow through partnership and collaborations. Here, we look at a few of these latest collaborations that promise big things for Ardana. 

Ardana and COTI

In September, COTI and Ardana announced they had taken the first steps in decentralized finance over Cardano building a formidable collaboration. 

The partnership aims to bring to the Cardano community, consumers, and merchants around the world, stablecoins crypto-to-fiat payments. 

In other words, COTI and Ardana will partner to leverage COTI’s payment infrastructure that is robust and empowering for global e-commerce. It will achieve its empowerment goals for e-commerce across the metaverse with Cardano’s security and speed and Ardana’s stablecoin. 

COTI is a platform whose payment system utilizes a machine learning-based proprietary method, Trustchain, built on a multi-directed acyclic graph data (DAG) structure. It helps it increase scalability, processing more than 100,000 transactions per second (TPS).

DAG has the advantage of low transaction costs and scalability and is arguably one of the best infrastructures for payments. For COTI, this means allowing businesses to construct fintech products as useful and innovative as they are data, time, and money-saving. 

Ardana and cFund

September of 2021 was certainly a busy month for Ardana, drawing to end a productive Q3 for the platform. Ardana officially received a much-needed strategic investment from global venture capital setup, cFund.

cFund is partnering with Ardana because it sees Cardano as a blockchain platform for visionaries, innovators, and changemakers. Undoubtedly, Cardano is the first blockchain founded on peer-reviewed research and developed through reliable, evidence-based methods.

cFund is known in the blockchain space as an early-stage sector agnostic venture company. It is anchored by IOHK and under the management of Wave Financial. cFund has a dedicated team of experts, entrepreneurs, and investors that are as enthusiastic as they are keen on blockchain tech.

They have interests in digital assets and are out to give backing to ambitious founders worldwide. Cardano is an open-source platform with some advanced and unrivaled features. It incorporates the innovative proof-of-stake algorithm of IOHK, Ouroboros.

This should increase the resilience the platform needs for mission-critical systems significantly. What’s more, in theory, energy consumption ought to be lower by well over a millionfold when compared to a pioneer like Bitcoin.

Ardana and Elrond

With Ardana’s collaboration with Elrond, cross-chain collaterals for Cardano are now a possibility. Both platforms are coming together for a long-term strategic partnership to promote the collateralization operations of eGold (EGLD).

Such integration is expected to help EGLD’s reputation as a pioneer in cross-chain assets that assist with collateralization of stablecoins released on the Cardano network using the Ardana platform.

Meanwhile, with this collaboration, Ardana will help bridge Cardano and Elrond. Ardana will connect the two ecosystems, thereby making the token transfer between Cardano chains and Elrond mainnets a reality. It will also make integrating with projects on either ecosystem possible. A cross-chain smart contract functionality is in the works too.

Conclusion

The Ardana team recognizes the importance of strong cooperation and has spearheaded some strategic and long-term partnerships with other blockchain and DeFi platforms.

Collaborations with COTI, cFund, and Elrond are some of the latest cooperation that Ardana has managed to ink off. Also, with a clear roadmap detailing the platform’s plans and goals well into 2023, Ardana isn’t far from becoming the blockchain’s next big thing.

Source: zycrypto.com


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