Cardano’s DeFi Stablecoin Hub Ardana Raises $500K in Second IDO

The second public sale for the Ardana native governance token DANA, which occurred on OccamRazer on November 4, 2021, noticed the agency increase $500,000 from a number of buyers.

For the second IDO, buyers had been required to contribute not more than $500 in ether (ETH) in order to partake in a share of $500,000 price of DANA tokens.

Since the IDO was organized on OccamRazer, the primary full launchpad answer for the Cardano ecosystem, buyers had been required to attach solely to their Cardano addresses.

Ryan Matovu, CEO & founder at Ardana, expressed satisfaction on the profitable completion of the corporate’s second token sale on the OccamRazer platform, including,

“Occam absolutely is the main launchpad on Cardano and we sit up for additional success working with them as we transfer nearer to our token launch in the approaching weeks.”

DANA Tokenomics

DANA, which is designed because the governance token that powers the Ardana ecosystem, will permit holders to vote and take part in essential decision-making processes of the platform.

Participants of the IDO don’t must undergo any rigorous course of to redeem the token, because the distribution is automated and shared solely to Cardano addresses that efficiently participated in the IDO.

In a bid to guard the worth of $DANA in the long run, Ardana designed an acceptable tokenomics for the token, whereby buyers will solely obtain an preliminary 15% of the IDO rewards. In comparability, the remaining 85% can be locked up, with 15% distributed in subsequent months.

Ardana’s First IDO

The second IDO occurred lower than every week after Ardana accomplished the primary public sale on October 28.

Ardana’s first IDO, carried out on Tokensoft, noticed the DeFi stablecoin hub increase $1 million. During the token sale, Ardana tried to forestall whales from taking part in the occasion by making certain that no taking part tackle bought greater than $500 price of $DANA.

Bridging The Gap

The firm’s primary goal is to bridge the hole between decentralized and centralized stablecoins.

Users are allowed to leverage Ardana’s decentralized vault system to mint the dUSD stablecoin through trustless property like Cardano’s native cryptocurrency ADA.

Not solely are customers in a position to mint decentralized stablecoins, however they will additionally carry out token swap operations utilizing the Danaswap, a stableswap DEX.

Aside from the 2 public gross sales of the $DANA that noticed the agency increase a mixed $1.5 million, Ardana had beforehand secured $10 million funding from notable buyers akin to cFund, Three Arrows Capital, and Ascentive Assets, amongst others.

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