The Stablecoin project within the Cardano ecosystem has secured an amount of $10 million in their most recent fundraising round.
Ardana is a stablecoin-based crypto project that is part of the Cardano Blockchain network. Recently, a round of fundraising for three Arrows Capital and Ascensive Assets was spearheading Ardana.
In the collaborative strategy to the collaboration of Three Arrows Capital and Ascensive Assets, Ardana secured a 10 million dollars fund to support the development of the Cardano stablecoin project based on stablecoin.
The co-founder and founder Aradan, Ryan Matovu and the co-founder Aradan, Ryan Matovu, spoke about their excitement over the prospect of fundraising and said
“As the first stablecoin ecosystem that is built on Cardano Our platform offers users with easy accessibility to liquid liquidity which is an constant issue in today’s hyper-competitive DeFi industry. Additionally, we can make use of Cardano’s speed, capacity and security to provide an uncentralized financial service that is accessible to everyone and in the near future we’ll allow foreign exchange transactions through the chain.”
The name of the new stablecoin is DUSD. Users will be able to transfer and receive, store, lend and store DUSD through the Cardano ecosystem with ease. They also stated that DUSD will be fully supported by the top Crypto-assets, such as ADA coin, which is made up of collateral funds.
As of now, Ardana is looking for sales of DANA tokens. The company plans to launch the token sale in 2022. They will be selling 35.625 million of the one million tokens at a price between $0.3 up to $0.6.
Alongside the running on the Dana token, the team will also launch their DEX (Danaswap) as well. The swap will allow users to earn money by using the Yield product option.
Boost in Cardano Blockchain ecosystem development
The projects in the Cardano ecosystem are a bit crazy to use their products and services.
Following the Alonzo hard fork within the Cardano Blockchain, the Cardano ecosystem has seen massive growth in the projects.
At the present, it appears that the Cardano network offers a superior alternative to Ethereum. Because transaction costs are 100 times lower when using the Cardano network than on Ethereum.