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Ardana Raises $1.5M During Two Public Sales to Build the Cardano DeFi & Stablecoin Ecosystem

Place/Date: - November 10th, 2021 at 3:00 pm UTC · 3 min read
Contact: Ardana, Source: Ardana

Ardana Raises $1.5M During Two Public Sales to Build the Cardano DeFi & Stablecoin Ecosystem
Photo: Ardana

Ardana, the new DeFi and stablecoin hub built on Cardano, has closed its second IDO for its native governance token DANA. The public sale round took place on OccamRazer on November 4. For this second round of the public sale, the liquidity pool was set at $500,000 worth of DANA.

The first DANA token sale occurred on October 28 on Tokensoft, where DANA tokens were sold at a base price of $0.60 with a maximum allocation of $500 per token address, in order to guarantee an inclusive sale and avoid whales. The total amount raised in this sale was $1 million.

DANA is Ardana’s native governance token, which allows holders to vote and make important decisions concerning the platform. DANA tokens can also be staked to obtain rewards.

A successful conclusion of DANA public sale rounds is an important step for the growth of the stablecoin hub, which aims to become the top DeFi protocol on Cardano. The project had earlier raised $10 million from major funds like cFund, Three Arrows Capital, Ascentive Assets, DeFi Capital, Morningstar Ventures, Mechanism Capital, Kronos Research, FMFW.io, MGNR and others.

Ardana will provide to its users a secure and decentralized vault system, allowing them to mint the dUSD stablecoin through trustless collateral assets like ADA. It will also provide Danaswap, a highly capital efficient stableswap DEX.

Ardana’s objective is to fill in the gaps between decentralization and the safety of centralized stablecoins. Ardana offers a tried-and-tested design for a collateralized, decentralized, soft-pegged stablecoin on Cardano, making it the most convenient option for Cardano’s many users.

The choice of OccamRazer, the all-in-one Cardano launchpad, helps cement Ardana as a leader in the Cardano DeFi ecosystem. OccamRazer has already contributed significantly to the growth of the Cardano ecosystem and it is known as the market leader in its branch.

Ryan Matovu, CEO & founder at Ardana, says:

“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.”

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.

About Occam

Occam.fi is a suite of DeFi solutions tailored for Cardano. Designed to deliver market leading launchpad capabilities, DEX tools, and liquidity pools, Occam.fi is the first and most significant addition to Cardano’s rapidly expanding DeFi ecosystem.

The first component of Occam.fi’s ecosystem is its decentralised funding platform, or launchpad, called OccamRazer. Through this launchpad, the next-generation of disruptive Cardano applications can undertake significant capital raises through OccamRazer’s IDO capabilities.

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