Ardana is an on-chain asset-backed stablecoin protocol and decentralized exchange stable asset liquidity pool built on Cardano. The stablecoin is overcollateralized with on-chain Cardano nativeassets, facilitating borrowing. The decentralized exchange allows for highly capital-efficient trading between stablecoins and identical assets with low risk income for liquidity providers from fees.
Ardana’s cornerstone is the Ardana Dollar (dUSD), a decentralized, on-chain, asset-backed stablecoin that allows users to mint, spend, send, and receive dUSD across the Cardano blockchain . Every single 2 3dUSD is backed directly by user deposited collateralized assets, such as ADA tokens. Instead of needing to convert ADA directly into stable currency to allow purchasing of other Cardano assets, a user can deposit their ADA into an Ardana vault to receive a proportion of its value back as a freshly minted dUSD loan. Later, when the dUSD is returned, the user’s ADA is released. Small fees apply for the loan. Decentralized lending empowers people with control of their own latent spending power. dUSD is held in cryptocurrency wallets and is tradable. An automated market maker (AMM) decentralized exchange for stable multi-asset pools. Danaswap is able to achieve minimal slippage even with 6-7 figure swaps when swapping between stablecoins or between tokens representing identical assets such as wrapped/synthetic Bitcoin.