Zug, Aug. 9, 2021 — The Occam.fi team is pleased to announce that Ardana, one of the first on-chain asset-backed stablecoin protocols and decentralized stable asset liquidity pools to launch on Cardano, will launch its token through an initial DEX offering on the OccamRazer platform. Ardana’s native token, DANA, will enable users to participate in the governance of the platform and support the Ardana ecosystem through liquidity provision.
Ardana’s stablecoin solution, Ardana Dollar (dUSD), is pegged to the U.S. dollar and issued as a Cardano native token. The dUSD stablecoin is overcollateralized with on-chain Cardano native assets facilitating borrowing, allowing users to borrow stablecoins against locked collateral. At the same time, the Ardana decentralized exchange allows for highly efficient capital trading between stablecoins and identical assets with low-risk income from fees for the Ardana platform’s liquidity providers.
Ryan Matovu, CEO and co-founder of Ardana, said:
“Ardana is one of the most significant steps forward for Cardano’s decentralized financial infrastructure to date. Through a dollar-pegged stablecoin, we will provide an easy on and off-ramp between fiat and crypto in the Cardano native token trading ecosystem — a secure store of value that preserves users’ funds in a volatile market. We look forward to working closely with the Occam.fi team to leverage their experience in the Cardano ecosystem during our IDO launch.”
Ardana will also offer “Danaswap,” an automated market maker decentralized exchange for stable multi-asset pools. Danaswap is able to ensure minimal slippage even during six to seven-figure swaps, for example when swapping between stablecoins or between tokens representing identical assets such as synthetic Bitcoin or wrapped Bitcoin (wBTC). Through Danaswap, users can earn interest through depositing dUSD as well as a portion of market-making fees generated through the app.
Elliot Hill, head of communications at Occam.fi, said:
“Ardana is a promising DeFi ecosystem and stablecoin solution for the Cardano ecosystem and one of the first to market with a dollar-backed Cardano native token. With a world-class team of technologists and fintech entrepreneurs, a solid roadmap with milestones into 2023 and beyond, and a laser-sharp focus on Cardano, it’s a pleasure to welcome Ardana to the OccamRazer IDO platform.”
The Ardana team, made up of fintech and blockchain industry veterans, offers former talents from Apple, Microsoft, Barclays, Cardano and many more. To learn more, read Ardana’s roadmap here, or visit its website here.
About Ardana
Ardana is an on-chain asset-backed stablecoin protocol and decentralized exchange stable asset liquidity pool built on Cardano. The stablecoin is overcollateralized with on-chain Cardano native assets facilitating borrowing and the decentralized exchange allows for highly capital efficient trading between stablecoins and identical assets with low-risk income from fees for liquidity providers.
Follow Ardana’s social media channels to stay up to date with the latest news:
Twitter – https://twitter.com/ardanaproject
Telegram — https://t.me/ardanaofficial
Discord — https://discord.gg/c9skrZvsqH
Medium — https://medium.com/ardana-hub
LinkedIn — https://www.linkedin.com/company/ardanalabs
About Occam.fi
The Occam.fi ecosystem is managed and maintained by the Occam Association, a Switzerland-based entity operating from the crypto-friendly Canton of Zug. When the Occam.fi ecosystem grows sufficiently, Occam.fi will be governed and steered by a carefully designed decentralized autonomous organization. Occam.fi is the first decentralized launchpad designed for the Cardano ecosystem, built with expertise and care from a veteran team of blockchain entrepreneurs and professionals. Learn more at Occam.fi’s website.
Follow Occam.fi’s social media channels to stay up to date with the latest news:
Telegram official community — https://t.me/occamfi_com
Telegram announcements — https://t.me/occamfi
Medium — https://medium.com/occam-finance
Twitter — https://twitter.com/OccamFi
Reddit — https://www.reddit.com/user/OccamFi