The Ardana Coin (DANA) is one of the first overcollateralized stablecoin native to the cardano blockchine. In this article we will analyze the Ardana cryptocurrency (DANA).
In this article, we will discuss:
What is Ardana (DANA) token cardan?
The Ardana cryptocurrency (DANA) is a stablecoin protocol backed by on-chain assets and a decentralized exchange stable asset liquidity pool built on Cardano. The stablecoin is over-collateralized with native Cardano assets on-chain, facilitating borrowing and decentralized exchange enables highly efficient exchange of equity between stablecoins and identical assets with low risk of fee income for liquidity providers.
fully decentralized
Unbiased, with multiple guarantees pegged to the US dollar.
Loans
Allows users to apply for stable loans against secured collateral.
Reserve of value
A secure store of value that preserves value even in a volatile market.
Developed in Cardano ADA
Built 100% using Cardano's speed, scalability and security.
How does the Ardana Ecosystem work?
Ardana is:
- A decentralized exchange stable asset liquidity pool;
- A stablecoin1 protocol supported by assets in the chain.
The Ardana Dollar (dUSD), a decentralized, on-chain, asset-backed stablecoin that allows users to mint, spend, send and receive dUSD across the entire Cardano3 blockchain2. Each dUSD is backed directly by user-deposited escrow assets such as ADA tokens. Rather than needing to convert ADA directly into stablecoin to enable the purchase of other Cardano assets, a user can deposit their ADA into an Ardana vault to receive a proportion of its value back as a newly minted dUSD loan. Later, when the dUSD is returned, the user's ADA is released. Small fees apply to the loan. Decentralized lending gives people control of their own latent purchasing power.
In addition, the Ardana cryptocurrency:
- It serves as a hub for other projects and developers to develop.
- Allows users to access stable liquidity on the blockchain Cardano.
- It creates a sustainable ecosystem focused on a solid foundation of decentralized liquidity.
- It is powered and governed by the Ardana token (DANA).
- Allows stakers to profit from involvement in Ardana's various income generating services and earn ADA tokens.
- Provides low-cost exchange between stablecoins that mirror different fiat currencies.
- It allows incumbents to make proposals on the overall direction of the project and vote to determine the variables that control the system.
Ardana is a blockchain ecosystem for change agents, innovators and visionaries, with the tools and technologies needed to create possibilities and bring about positive global change.
How will Ardana (DANA) work?
1. Ardana Stablecoin
The Ardana Dollar (dUSD) is a decentralized, impartial, chained, collateral-based cryptocurrency pegged to the US dollar. dUSD is held in cryptocurrency wallets or on platforms and is compatible with Cardano. dUSD is easy to generate, access and deploy. Ardana will soon develop and launch other fiat currency stablecoins: dEUR; dGBP; and more. Each currency has the same features and security as dUSD.
2. Danaswap DEX
A decentralized switch from automated market maker (AMM) to stable multiple asset pools. Danaswap is able to achieve minimal slip even with 6-7 digit swaps when swapping between stablecoins or between tokens that represent identical assets, such as wrapped/synthetic Bitcoin.
- ultra low slip – Switch between stablecoins and stable assets, such as synthetic / packaged Bitcoin with minimal slip.
- Savings – Deposit Ardana stablecoins to earn passive income through interest payments.
- Earn trading fees – Deposit your assets into a DanaSwap pool and earn a share of the market-making fees collected.
- Exchange – Switch between international stablecoins like dUSD, dEUR, dGBP and more.
- DANA Token – The governance token rewarded to users for supporting the ecosystem by providing liquidity.
- Leadership – DANA token holders can participate in surveys and votes to influence the development of Ardana.
3. Multiple Subscription Protocol
The optional Ardana Multi-Signature Protocol allows users to manage their community cryptographic assets in secure, intelligent contract vaults that require a user-specified number of signatures to confirm any transaction. This feature is intended to help prevent unauthorized access to any cryptographic asset held in a pool.
This multisignature insurance supports ADA and other assets native to Cardano, with the option to view the fiat values of assets held. Transactions can be signed using any authorized wallet, whether mobile, browser extension or hardware wallet. This provides maximum convenience directly from the Ardana Multisig Safe interface.
Where to buy $DANA token?
The cryptocurrency is currently listed on a cardan launch pad Occam Razer🇧🇷 Participation in the IDO pool will take place as usual on the Ethereum mainnet.
