Stablecoin developer Ardana is one step closer to its goal of becoming the stablecoin hub of Cardano. A functioning stablecoin would be a boon to the Cardano ecosystem…
Covered:
- Ardana ISPO Announcement
- ISPO, Explained
Ardana ISPO Announcement
Today, we are thrilled to officially announce Ardana's upcoming ISPO (Initial Stake Pool Offering) with DANA through our Ardana Stake Pool Alliance (ASPA) partners. 🎸
📍 https://t.co/JnFVphqtFH pic.twitter.com/DrLXHfleUg
— Ardana – DeFi Hub of Cardano (@ArdanaProject) February 14, 2022
Ardana announced today that they are launching their ISPO (initial stakepool offering). “Today, we are thrilled to officially announce Ardana’s upcoming ISPO (Initial Stake Pool Offering) with DANA through our Ardana Stake Pool Alliance (ASPA) partners,” Ardana said via their Medium blog.
Ardana is a decentralized stablecoin hub built on Cardano. It intends to eventually provide a stablecoin that underlines the entire ecosystem’s DeFi, as well as provide its own exchange. Think of it as the UST of Cardano. dUSD will be their stablecoin — it already has a partnership with NEAR Protocol — while DANA is their governance token.
Some have referred to the stablecoin hub potentially becoming the “foundation of Cardano.” The reason being that a properly functioning stablecoin is important for the dexes, market makers, and oracles that combine to make an ecosystem to work in concert.
Ryan Matovu, founder and CEO of Ardana, is a big believer in Cardano and its use of stake pools and promise of decentralization. On why he chose Cardano to build on he said, “anticipating the growth and the boom on DeFi on cardano, coupled with the strong community, that’s where we wanted to effectively build and provide that use case for users.”
Recommended: Samsung Is Using The Cardano Blockchain To Plant Trees?
Ardana ISPO, Explained
Via their blog, Ardana points out that ISPO’s are a fairly new method to raise money for crypto projects that “first appeared on the Cardano blockchain.”
The ISPO is native to Cardano thanks to Cardano’s unique reliance on a multitude of stakepools to keep the the network decentralized. ” Above all, ISPOs are more inclusive, and the best part is that anyone may participate simply by delegating their ADA,” the stablecoin maker said.
For more on the ISPO, click here.
The post Ardana Announces Major Cardano DeFi News appeared first on CryptosRus.
