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17.11 - 23:33
Cardano stablecoin protocol Ardana raises $10M in latest funding round
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Ardana, a stablecoin ecosystem built on the Cardano (ADA) blockchain, received $10 million in seed capital from a group of investors led by Three Arrows Capital and Ascensive Assets.
Ryan Matovu, CEO and co-founder of Ardana, issued the following statement regarding the deal:
Users can send, receive, store, borrow and lend the stablecoin — known as dUSD — freely on the network. It will have a 1:1 exchange rate with the United States dollar, and will be fully collateralized with cryptocurrencies such as Cardano (ADA).
Ardana plans to hold a public sale of its secondary token, known as DANA, for protocol governance as outlined in its roadmap. The project's developers intend for the sale to occur later this year, with 35.625 million out of 125
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