We have another partnership announcement for you this week — Ardanaand Liqwid will be joining forces to offer the following features:

• dUSD lending & borrowing on Liqwid.
• Stablecoin qToken pools at DanaSwap.

dUSD Lending & Borrowing on Liqwid

The Liqwid protocol will establish a lending and borrowing market for dUSD via the Liqwid DAO’s governance process for whitelisting new assets. The dUSD market will be included in the LQ liquidity mining program. This means that Liqwid dUSD depositors and borrowers will be eligible for a LQ bonus yield proportional to their supplied or borrowed amount.

Stablecoin qToken Pool on DanaSwap

Liqwid’s stablecoin qTokens (e.g. qLQUSD, qdUSD) will be listed on DanaSwap DEX. Listing the qToken stablecoins on Danaswap will create more efficiency for users executing swaps. Ardana’s solution also mitigates against any risk of slippage inefficiency that would incur unrelated price fluctuations of the qTokens.

Liqwid users will be able to easily swap between their various yield-bearing stablecoin deposits without going through another DEX which would be less efficient.

Ryan Matovu, Founder of Ardana, stated:

“We are very excited to start working with Liqwid. We look forward to combining the talent and expertise of our two teams and putting innovative solutions into practice to better serve the entire DeFi community. “

Dewayne Cameron, Founder of Liqwid, stated:

“This partnership will help to shape the future of the Cardano DeFi ecosystem by leveraging the power of composability to build advanced stablecoin product offerings. We are delighted to work with the talented Ardana team to implement functional, simple to use stablecoin solutions for Cardano DeFi users.”

Conclusion

We are looking forward to adding the above features to Danaswap and working closely with the Liqwid core development team. We will have more announcements in the near future as the partnership develops.

About Liqwid

Liqwid is an open source and non-custodial liquidity protocol for interest rate curves based on lender supply and borrower demand of the underlying Cardano native asset. Liqwid’s borrowing mechanism is capital efficient with no trading fees, no slippage and no impermanent loss while offering multiple secure yield stream opportunities to suppliers.

About Ardana

Ardana is Cardano’s stablecoin hub which will bring the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano. Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX. The stablecoin is verifiably backed by an excess of on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets. The DEX is a highly capital efficient exchange enabling swaps with minimal slippage & fees while providing low-risk yield opportunities to liquidity providers.