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Ardana’s Two Public Sales Raises $1.5M, Builds ADA DeFi & Stablecoin Ecosystem

CryptocurrencyNov 10, 2021 10:30AM ET
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Ardana’s Two Public Sales Raises $1.5M, Builds ADA DeFi & Stablecoin Ecosystem

  • Ardana successfully raised $1.5 million in two public sales.
  • Ardana aims to become the top DeFi platform in the Cardano ecosystem.

The crypto world continues to develop its network to provide great technology to all its users worldwide. This time, Ardana, the stablecoin on Cardano’s hub that brings necessary DeFi primitive to bootstrap any economy in Cardano, has successfully closed its second IDO.

In detail, Ardana’s native token — DANA — perfectly closed a liquidity pool amounting to $500,000 at the second round of the public sale. The event was held on OccamRazer on November 4, 2021.

This made the CEO and founder of Ardana, Ryan Matovu react:

We are pleased by the success of our recent public fundraising round with Occam. Occam surely is the leading launchpad on Cardano and we look forward to further success working with them as we move closer to our token launch in the coming weeks.

Furthermore, this recent achievement of the crypto can also be considered the fruit of its first public sale held on October 28 at Tokensoft. In the first public sale of DANA, the network amazingly gathered funds amounting to $1 million. At this time, the token was sold at $0.60 with a maximum allocation of $500 per token address. This is made to prevent whales from taking over the event.

In addition, the network also has raised $10 million worth of funds from major organizations such as Three Arrows Capital, Ascentive Assets, DeFi Capital, Morningstar Ventures, Mechanism Capital, Kronos Research, FMFW.io, MGNR and others.

Meanwhile, the success of the two public sales made by Ardana marks an important milestone for the network. In other words, this achievement brings Ardana one step closer to reaching its goal to become the top DeFi protocol on Cardano. In addition, the OccamRazer, the all-in-one Cardano launchpad, will play a significant role in helping Ardana become a leader in the Cardano DeFi ecosystem.

On the other hand, Ardana seeks to provide its users with a secure and decentralized vault system. A platform where they can mint dUSD stablecoin through trustless collateral assets like ADA. Through this, Ardana can bridge the gap between decentralization and the safety of centralized stablecoins. Furthermore, the network will also provide Danaswap, a highly capital efficient stableswap DEX, to enhance its user experience in using DEX.

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Ardana’s Two Public Sales Raises $1.5M, Builds ADA DeFi & Stablecoin Ecosystem
 

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