Ardana, the stablecoin protocol and decentralized exchange, has raised $10 million in its latest strategic funding round. The first stablecoin ecosystem based on Cardano received support from many companies. cryptocoin.com We share the details as…
Great support for Cardano-based platform
With technology veterans from Apple, Microsoft, Barclays and Cardano in its founding team, the Cardano-backed platform has received support from cFund, Morningstar Ventures, Mechanism Capital, Kronos Research, FMFW.io, MGNR, Selini Capital, Skynet Trading and Portico. Three Arrows Capital and Ascensive Assets led the investment round. “It would be an understatement to say that we are excited to have some of the best-known names in the private equity space among us,” said Ryan Matovu, Ardana CEO and co-founder.
Currently gearing up for token production event and public sale process in Q4, Ardana combines a DEX (decentralized exchange) stable asset liquidity pool and asset-backed, fully decentralized stablecoin protocol. Through the stablecoin project, ADA token holders can use their holdings as cost-effective collateral in the dollar-pegged dUSD stablecoin. This Ardana Dollar uses smart contracts to allow users to print, spend, send and receive dUSD on the Cardano Blockchain, and all dollars are fully backed by collateralized assets like ADA.
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