Ardana Partners with NEAR To Build Cardano Bridge
Ardana, the first all-in-one stablecoin ecosystem built on Cardano is partnering with NEAR to build a bridge that will allow assets to flow freely between Cardano and NEAR.
By connecting Cardano and NEAR and supporting integrations between projects on both ecosystems, Ardana will enable token transfers between the NEAR and Cardano blockchains and, later on, enable cross-chain smart contract functionality. Eventually $NEAR will also be available as an asset on Cardano, and it will be usable as collateral on Ardana to mint stablecoins.
“At NEAR, we’ve always believed the future of blockchain is multi-chain. A world whereby each blockchain could seamlessly talk and exchange data between one another. Ardana shares that vision, and integrations like this help realise that goal,” said Erik Trautman, NEAR Foundation CEO.
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The partnership includes a grant to assist Ardana to build the Cardano-NEAR bridge.
“Ardana is on a mission to provide the crypto community with seamless integration between different projects and ecosystems. With that in mind, we are thrilled to announce a partnership with NEAR that will bring Ardana closer to this goal. The collaboration will help both organizations explore new avenues of growth in the emerging ecosystem of blockchain technology and will prove to be a landmark in the future for blockchain scalability.” said Ryan Matovu, Ardana CEO and Founder.
There will be more updates on our progress as the partnership progresses.
NEAR is a high-performance blockchain that is designed to be super-fast, incredibly secure, and infinitely scalable. NEAR’s vision is to create a network that acts as an on-ramp for billions of people to access the next generation of the web.
NEAR is built by an award-winning team of engineers and entrepreneurs to be simple to use, inclusive and good for the environment. NEAR is backed by top VCs such as A16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.
Join NEAR’s community:
Twitter: @NEAR_Blockchain & @NEARProtocol
Ardana is Cardano’s stablecoin hub which will bring 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.
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