MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

The Key Use Cases Distinguishing Ardana

November 17, 2021
in Blockchain
Reading Time: 4 mins read
A A
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
ShareShareShareShareShare

Ardana, a next-generation decentralized stablecoin protocol built on Cardano, is making massive moves in the DeFi (decentralized finance) realm. It’s creating an ecosystem made up of several main components that are the driving force of its operations. These integrations allow for seamless swapping, lending/borrowing, and trading, all within its vast financial hub.


The project’s vision is to bring the Forex market to the crypto industry, leveraging its multi-currency stablecoins to bridge the gap. Given that it’s running on Cardano’s Proof of Stake (PoS) blockchain, it can offer extremely scalable, secure, and eco-friendly solutions.

With its flagship products and features, Ardana boasts several key use cases that are poised to drive high adoption and implement new and improved DeFi mechanisms on the Cardano blockchain.

Trade & Swap Truly Pegged Stablecoins

The Ardana stablecoin ecosystem is like no other, offering a wide variety of choices that can be utilized seamlessly across its platform. It currently supplies users with international stablecoins, such as dUSD, dEUR, and dGBP, making it easy to trade with tokens that track the underlying value of your favorite fiat currency. 

The primary stablecoin is dUSD, a decentralized, on-chain stablecoin pegged to the US Dollar. Ardana users can mint, pay with, transfer, and receive dUSD on Cardano’s blockchain, making it fast and cheap to facilitate transactions. 

Ardana’s stablecoin ecosystem is the heart of its platform, and the interchangeability and stability of these assets provide very valuable utility, especially when paired with Cardano’s advanced blockchain features and efficiencies.

Lending & Borrowing with Ease

Decentralized lending represents another core component of the Ardana protocol. dUSD is fully backed by collateralized assets, deposited and locked-in by users on the platform. These collateralized assets can be tokens, like ADA (the main Cardano native asset), making it more secure and reliable than other stablecoin providers.

The collateral that’s put down is required to be greater than the loan amount. This over-collateralization helps maintain the value of dUSD and once the stablecoin load is paid back to the lender, the amount sitting in collateral is returned back to the borrower. 

But why is this useful? Users no longer need to liquidate their collateral assets. Any Cardano native asset supported on Ardana can be deposited into the protocol’s vault, where users can earn a percentage in return. Ultimately, by providing collateral, users get a portion of the total amount back in the form of a newly minted dUSD loan.

Seamless Decentralized Trading

The DanaSwap DEX (decentralized exchange) allows trading and swapping across stable multi-asset pools, providing extremely low slippage and fast speeds, all at a low cost. In fact, Danaswap is capable of producing efficiencies of up to 100 times that of your average DEX.

Stablecoins can be swapped with wrapped tokens, and liquidity providers can deposit their stablecoins to earn high yields in the form of market-making fees. As is the norm, these yields are relative to their overall share.

Users can also mint stablecoins and trade them on the DEX, allowing for a fully functioning and high-speed on-chain Forex market in your back pocket. The stable liquidity pools on the protocol containing these pegged assets facilitate these trades. 

Staking & Governance

The native DANA token helps power and support the underlying network, serving a variety of uses for its holders.

For one, token holders can stake DANA in order to generate yield and earn passive income in the form of ADA, Cardano’s native token. Additionally, users who own the token are given governance rights in the form of voting, where they can help influence project initiatives and future development.

The various benefits and mechanisms the DANA token provides incentivize users to continue to hold and support the network by providing liquidity to the pools to create a stronger and more robust ecosystem as a whole.

Conclusion

Ardana’s compelling use cases stem not only from its innovative stablecoin ecosystem and accompanying trading and lending solutions but also because it leverages the Cardano blockchain’s raw efficiency. 

It offers a comprehensive one-stop-shop where stablecoins and utility tokens alike can be used in tandem to offer a wide variety of enticing DeFi incentives. Users cannot only benefit from reduced price fluctuation risk from the pegged stablecoins, but also have the abiity to earn high yields and rewards.

The post The Key Use Cases Distinguishing Ardana first appeared on BTC Wires.

Credit: Source link

ShareSendTweetPinShare
Previous Post

Twitter Crypto. The Dedicated Team Aimed At Exploring DApps And More

Next Post

US government seizes $56 million in crypto from BitConnect’s ‘number one promoter’

Next Post
US government seizes $56 million in crypto from BitConnect’s ‘number one promoter’

US government seizes $56 million in crypto from BitConnect’s ‘number one promoter’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

dappGambl Providing Incredible Solutions to Deal with Cryptocurrency Scams 

dappGambl Providing Incredible Solutions to Deal with Cryptocurrency Scams 

January 25, 2023
Former SEC Chief calls ‘Regulation by Enforcement’ catchphrase a nonsense

Former SEC Chief calls ‘Regulation by Enforcement’ catchphrase a nonsense

January 23, 2023
US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

January 28, 2023
GMX Price Rallies 13% Spike As Total Value Locked Reaches Record Highs

GMX Price Rallies 13% Spike As Total Value Locked Reaches Record Highs

January 26, 2023
The SEC’s Excellent Record on Crypto: Regulation and Enforcement

The SEC’s Excellent Record on Crypto: Regulation and Enforcement

January 25, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • U.S. President Joe Biden’s administration released a statement on Jan 27
  • Will Jim Cramer’s Bitcoin Price Prediction Be Wrong Again?
  • Enjin Coin (ENJ) And Huobi Token (HT) Holders Begin Migration To Orbeon Protocol (ORBN)

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,444.00 1.96%
  • ethereumEthereum (ETH) $ 1,610.88 1.49%
  • tetherTether (USDT) $ 1.00 0.02%
  • usd-coinUSD Coin (USDC) $ 1.00 0.09%
  • bnbBNB (BNB) $ 315.75 2.71%
  • xrpXRP (XRP) $ 0.413630 0.24%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • cardanoCardano (ADA) $ 0.390740 0.86%
  • dogecoinDogecoin (DOGE) $ 0.089994 0.31%
  • matic-networkPolygon (MATIC) $ 1.18 4.92%
  • okbOKB (OKB) $ 39.53 2.47%
  • solanaSolana (SOL) $ 24.34 0.15%
  • staked-etherLido Staked Ether (STETH) $ 1,608.00 1.4%
  • polkadotPolkadot (DOT) $ 6.60 1.39%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 0.76%
  • litecoinLitecoin (LTC) $ 95.40 7.75%
  • avalanche-2Avalanche (AVAX) $ 20.67 1%
  • tronTRON (TRX) $ 0.063661 1.19%
  • uniswapUniswap (UNI) $ 6.91 2.02%
  • daiDai (DAI) $ 0.999826 0.01%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,353.00 1.69%
  • cosmosCosmos Hub (ATOM) $ 13.54 1.19%
  • the-open-networkToncoin (TON) $ 2.48 2.53%
  • chainlinkChainlink (LINK) $ 7.39 1.21%
  • leo-tokenLEO Token (LEO) $ 3.66 1.76%
  • moneroMonero (XMR) $ 183.84 1.5%
  • ethereum-classicEthereum Classic (ETC) $ 22.35 2.03%
  • aptosAptos (APT) $ 18.20 3.69%
  • bitcoin-cashBitcoin Cash (BCH) $ 136.22 1.91%
  • stellarStellar (XLM) $ 0.093850 0.86%
  • apecoinApeCoin (APE) $ 6.14 2.22%
  • quant-networkQuant (QNT) $ 150.82 0.2%
  • nearNEAR Protocol (NEAR) $ 2.54 0.28%
  • crypto-com-chainCronos (CRO) $ 0.082089 0.72%
  • filecoinFilecoin (FIL) $ 5.38 0.47%
  • lido-daoLido DAO (LDO) $ 2.28 0.63%
  • algorandAlgorand (ALGO) $ 0.261869 2.23%
  • vechainVeChain (VET) $ 0.024732 1.72%
  • internet-computerInternet Computer (ICP) $ 6.14 3.87%
  • hedera-hashgraphHedera (HBAR) $ 0.068841 1.04%
  • axie-infinityAxie Infinity (AXS) $ 11.69 0.14%
  • decentralandDecentraland (MANA) $ 0.739392 5.38%
  • aaveAave (AAVE) $ 87.52 0.86%
  • fantomFantom (FTM) $ 0.479631 3.17%
  • eosEOS (EOS) $ 1.10 0.61%
  • the-sandboxThe Sandbox (SAND) $ 0.755888 1.47%
  • flowFlow (FLOW) $ 1.09 0.11%
  • elrond-erd-2MultiversX (EGLD) $ 45.06 1.15%
  • theta-tokenTheta Network (THETA) $ 1.11 1.7%
  • tezosTezos (XTZ) $ 1.17 5.27%