Ardana Completes $10M Fundraising Rounds
Ardana has raised $10 million of investment including previous strategic funding rounds. The Cardano-powered platform, whose founding team features tech veterans from Apple, Microsoft, Barclays and Cardano, won support from Mechanism Capital, Kronos Research, mgnr.io, Morningstar Ventures amongst others in a round led by Three Arrows Capital, CFund and Ascensive Assets.
Notable angel investors included David Post (Managing Director of Chainlink Labs), Taiyang Zhang (Founder of Ren Protocol and KeeperDAO) and Justin Sun (Founder of Tron) among leadership within Cardano.
“To say we are thrilled to welcome aboard some of the best-known names in the private equity space would be an understatement. As the first all-in-one stablecoin ecosystem built on Cardano, our platform provides users with convenient access to liquidity, an ever-present concern in the hyper-competitive defi world. We are also able to leverage Cardano’s speed, scalability and security to offer a decentralized financial solution that works for everyone, and soon we’ll even be facilitating foreign exchange on-chain.”—Ardana CEO and co-founder Ryan Matovu.
Currently gearing up for a Token Generation Event and Public Sale in Q4, Ardana combines a stableswap DEX and asset-backed, fully decentralized stablecoin protocol. Through the latter, ADA token-holders can use their assets as collateral against a cost-effective loan denominated in the dollar-pegged dUSD stablecoin.
ABOUT Ardana
Ardana is Cardano’s stablecoin hub, bringing the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano. Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX. The stablecoin is verifiably backed by an excess of on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets.
RESOURCES
Medium
