Cardano-powered DeFi Ardana has announced a long-term partnership with high-throughput layer 1 blockchain Elrond ($EGLD), as the result of which Ardana “will build the bridge infrastructure required for asset transfer between Cardano and Elrond.”
Ardana is “a decentralized stablecoin hub which will bring the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano”.
Ardana currently has two main components:
- A fully decentralized dollar-pegged stablecoin named dUSD “verifiably backed by on-chain collateral” that allows “borrowers to take leverage on their ADA or other supported assets.”
- An automated market maker (AMM) decentralized exchange named Danaswap for stable multi-asset pools. Danaswap is “highly capital efficient enabling swaps with minimal slippage while providing low-risk yield opportunities for liquidity providers.”
