Cardano Based-Ardana Enters a Strategic Partnership With NEAR Protocol

Cardano Based-Ardana Enters a Strategic Partnership With NEAR Protocol
  • Ardana is excited to partner with NEAR
  • Borrowers may use their ADA or other assets to leverage the stablecoin.

Ardana is Cardano’s stablecoin hub, bringing the DeFi primitives required to bootstrap and run any economy. Stablecoins backed by on-chain assets and a decentralized stable-asset DEX are offered by Ardana. Borrowers may use their ADA or other assets to leverage the stablecoin, which is backed by a surplus of on-chain collateral. The DEX is a capital-efficient exchange that allows low-risk swaps with minimum slippage and costs.

Strategic Alliance

Ardana today announced its strategic alliance with NEAR, a decentralized application platform (Dapp) that focuses on the developer and user experience combined. Ardana will provide the bridge infrastructure necessary for asset transfer between Cardano and NEAR, including a grant.

Award-winning engineers and entrepreneurs created NEAR to be user-friendly, inclusive, and eco-friendly. NEAR is a high-performance blockchain meant to be quick, safe, and scalable. This network allows billions of users to access the next version of the web.

Ryan Matovu, Ardana CEO and Founder said:

“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.”

Ardana will allow cross-chain token transfers and smart contract capabilities by integrating Cardano and NEAR and facilitating integrations between projects on both ecosystems. The NEAR coin will ultimately be an asset on Cardano and used as collateral to create stablecoins on Ardana.

Erik Trautman, NEAR Foundation CEO said:

“NEAR’s vision always envisioned a multi-chain world, whereby each blockchain could seamlessly talk and exchange data between one another. Ardana to aid in the creation of a multi-chain world, and integrations like this help realize that goal.”

Ardana is excited to partner with NEAR and connect two thriving ecosystems. As the collaboration continues, more developments are expected soon.