Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

Leading Cardano stablecoin project shuts down after excruciating launch delays

Cryptocurrency Nov 24, 2022 04:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Leading Cardano stablecoin project shuts down after excruciating launch delays
 
ADA/USD
+0.64%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

On Nov. 24, Ardana, a leading decentralized finance (DeFi) and stablecoin ecosystem building on Cardano (ADA), abruptly halted development, citing "funding and project timeline uncertainty." The project will remain open-source for builders while treasury balances and remaining funds will be held by Ardana Labs "until another competent dev team in the community comes forward to continue our work."

The move came as a shock to many due to the sudden nature of the announcement. However, it appears that issues were already present for some time. Beginning July 4, Ardana has held an ongoing initial stake pool offering, or ISPO, to fund its operations. Unlike traditional fundraising mechanisms, developers do not receive the ADA delegated by users, but instead, the staking rewards. Users are incentivized to keep delegating by receiving the native DANA tokens as a reward.

Continue Reading on Coin Telegraph

Leading Cardano stablecoin project shuts down after excruciating launch delays
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Herb Tuerr
Herb Tuerr Nov 24, 2022 10:30PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
All bull ******and scam artist!!
Sara summer
Sara summer Nov 24, 2022 5:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sᴜᴄᴄᴇss ᴅᴏᴇsɴ'ᴛ ᴊᴜsᴛ ᴋɴᴏᴄᴋ ᴀᴛ ᴀ ᴍᴀɴ's ᴅᴏᴏʀ, ɪᴛ ʀᴇϙᴜɪʀᴇs ʜᴀʀᴅ ᴡᴏʀᴋ ᴀɴᴅ ᴄᴏɴsɪsᴛᴇɴᴄʏ. Aʙᴏᴜᴛ ᴛʜʀᴇᴇ ᴍᴏɴᴛʜs ᴀɢᴏ ᴍʏ ᴄᴏᴍᴘᴀɴʏ ғᴀᴄᴇᴅ ᴀ ᴠᴇʀʏ sᴇʀɪᴏᴜs sᴇᴛ ʙᴀᴄᴋ, ᴏɴ ᴅɪsᴄᴜssɪɴɢ ɪᴛ ᴡɪᴛʜ ᴀ ғʀɪᴇɴᴅ ʜᴇ ᴛʜᴇɴ sᴘᴏᴋᴇ ᴛᴏ ᴜs ᴀʙᴏᴜᴛ ᴀɴᴅ ɪɴᴛʀᴏᴅᴜᴄᴇᴅ ᴍᴇ ᴛᴏ ᴛʜᴇ ᴄʀʏᴘᴛᴏ ᴍᴀʀᴋᴇᴛ ᴀɴᴅ ᴀᴛ ᴛʜᴇ sᴀᴍᴇ ᴛɪᴍᴇ ɢᴀᴠᴇ ᴜs ᴀɴ ᴀᴜᴛʜᴇɴᴛɪᴄ Exᴘᴇʀᴛ ᴛʀᴀᴅᴇʀ ᴡʜᴏ ʜᴇʟᴘ I ᴀɴᴅ ᴍʏ ᴄᴏʟʟᴇᴀɢᴜᴇs ɢᴇᴛ ʙᴀᴄᴋ ᴀᴛ ᴏᴜʀ ғɪᴛs I ᴍᴇᴀɴ ᴀʙᴏᴜᴛ ( $ 780ᴋ )Wᴇ ᴍᴀᴅᴇ ɪɴ ᴊᴜsᴛ 14ᴡᴇᴇᴋs ᴡᴇ ᴅɪᴅ ɪɴᴠᴇsᴛᴇᴅ $ 270ᴋ ... Amelia lee Richter ᴏɴ 📲 🅸🅽🆂🆃🅰🅶🆁🅰🅼 sʜᴇ ɪs ɪɴᴅᴇᴇᴅ ᴀ ɢᴇɴɪᴜs ᴏɴᴇ, ɴᴏᴡ I sᴇᴇ ʀᴇᴀsᴏɴs ᴡʜʏ ᴀ ʟᴏᴛ ᴏғ ᴘᴇᴏᴘʟᴇ sᴀʏ ɢᴏᴏᴅ ᴛʜɪɴɢs ᴀʙᴏᴜᴛ ʜᴇʀ, ᴀ ᴠᴇʀʏ ʀᴇʟᴇɴᴛʟᴇss ᴛʀᴀᴅᴇʀ ᴡɪᴛʜ ɢᴏᴏᴅ ʀᴇsᴜʟᴛs.
Sara summer
Sara summer Nov 24, 2022 5:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sᴜᴄᴄᴇss ᴅᴏᴇsɴ'ᴛ ᴊᴜsᴛ ᴋɴᴏᴄᴋ ᴀᴛ ᴀ ᴍᴀɴ's ᴅᴏᴏʀ, ɪᴛ ʀᴇϙᴜɪʀᴇs ʜᴀʀᴅ ᴡᴏʀᴋ ᴀɴᴅ ᴄᴏɴsɪsᴛᴇɴᴄʏ. Aʙᴏᴜᴛ ᴛʜʀᴇᴇ ᴍᴏɴᴛʜs ᴀɢᴏ ᴍʏ ᴄᴏᴍᴘᴀɴʏ ғᴀᴄᴇᴅ ᴀ ᴠᴇʀʏ sᴇʀɪᴏᴜs sᴇᴛ ʙᴀᴄᴋ, ᴏɴ ᴅɪsᴄᴜssɪɴɢ ɪᴛ ᴡɪᴛʜ ᴀ ғʀɪᴇɴᴅ ʜᴇ ᴛʜᴇɴ sᴘᴏᴋᴇ ᴛᴏ ᴜs ᴀʙᴏᴜᴛ ᴀɴᴅ ɪɴᴛʀᴏᴅᴜᴄᴇᴅ ᴍᴇ ᴛᴏ ᴛʜᴇ ᴄʀʏᴘᴛᴏ ᴍᴀʀᴋᴇᴛ ᴀɴᴅ ᴀᴛ ᴛʜᴇ sᴀᴍᴇ ᴛɪᴍᴇ ɢᴀᴠᴇ ᴜs ᴀɴ ᴀᴜᴛʜᴇɴᴛɪᴄ Exᴘᴇʀᴛ ᴛʀᴀᴅᴇʀ ᴡʜᴏ ʜᴇʟᴘ I ᴀɴᴅ ᴍʏ ᴄᴏʟʟᴇᴀɢᴜᴇs ɢᴇᴛ ʙᴀᴄᴋ ᴀᴛ ᴏᴜʀ ғɪᴛs I ᴍᴇᴀɴ ᴀʙᴏᴜᴛ ( $ 780ᴋ )Wᴇ ᴍᴀᴅᴇ ɪɴ ᴊᴜsᴛ 14ᴡᴇᴇᴋs ᴡᴇ ᴅɪᴅ ɪɴᴠᴇsᴛᴇᴅ $ 270ᴋ ... Amelia lee Richter ᴏɴ 📲 🅸🅽🆂🆃🅰🅶🆁🅰🅼 sʜᴇ ɪs ɪɴᴅᴇᴇᴅ ᴀ ɢᴇɴɪᴜs ᴏɴᴇ, ɴᴏᴡ I sᴇᴇ ʀᴇᴀsᴏɴs ᴡʜʏ ᴀ ʟᴏᴛ ᴏғ ᴘᴇᴏᴘʟᴇ sᴀʏ ɢᴏᴏᴅ ᴛʜɪɴɢs ᴀʙᴏᴜᴛ ʜᴇʀ, ᴀ ᴠᴇʀʏ ʀᴇʟᴇɴᴛʟᴇss ᴛʀᴀᴅᴇʀ ᴡɪᴛʜ ɢᴏᴏᴅ ʀᴇsᴜʟᴛs.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email