Ardana has had a successful first public funding experience with close to $10 million already invested in the firm. Ardana is a stablecoin DEX for Cardano. It supports the on-chain of collaterals to help users leverage their supported digital assets. The Ardana DEX reduces market slippage and provides low-risk liquidity and yields.
The success of Ardana in these early stages can perhaps be attributed to its team of experienced technology experts with experience of working in important positions at Microsoft, Apple, Barclays, Cardano.
The big investors in the first round of funding were CFUND, Ascensive Assets, and Three Arrows Capital. Other investors who made significant contributions were Kronos Research, Mechanism Capital, Morningstar Ventures, and mgnr.io.
There were a few individual angel investors from important firms who showed their trust in Ardana. Notable among them were Taiyang Zhang, the founder of Ren Protocol and KeeperDAO. David Post, the MD of Chainlink Labs, and Justin Sun, the founder of Tron, are other notable names.
Ryan Matovu, the founder and CEO of Ardana, has shown a lot of excitement about being able to bring in some of the biggest names in private equity investment in just their first round of funding. Matovu believes that Ardana will be the first comprehensive all-in-one platform for stablecoins built on Cardano. He feels that Ardana’s speed, security, and potential scalability will help it stand out in the competitive DeFi ecosystem. Ardana also hopes to introduce an on-chain facility for foreign exchange very soon.
As of now, ADA token holders can use their assets as collateral to get loans. DANA is the native token of Cardano and acts as a governance and utility token, allowing holders to vote on the scope of the project and fee-sharing with the platform.
Ardana is also teaming up with NEAR protocol to have cross-chain utility via bridging technologies for EGLD and ADA. Experts believe that Ardana will become the best decentralized finance gateway on the Cardano blockchain network when all its planned new features are implemented.