Ardana completes $10m fundraising rounds led by Three Arrows Capital, CFund & Ascensive Assets.
We are happy to announce that after completion of the first round of our public sale through Tokensoft, 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 DeFi Capital, 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,” said Ardana CEO and co-founder Ryan Matovu.
“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.”
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.
Cardano native asset, DANA, functions as a utility and governance token, conferring voting rights on changes to the project’s parameters as well as a share of platform fees.
Due to a recent partnership with NEAR protocol, Ardana’s decentralized stablecoin will soon have utility across chains via bridging infrastructure, making it the first collateralized stablecoin loan offering for both ADA and EGLD.
Along with the investors’ expertise, this funding will allow us to establish Ardana as one of the premier defi gateways on the Cardano blockchain. The future is bright.
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. The DEX is a highly capital efficient exchange enabling swaps with minimal slippage & fees while providing low-risk yield opportunities to liquidity providers.
Website | Twitter | Discord | Telegram | Whitepaper | Pitch Deck
