Ardana DANA

What is Ardana (DANA)?

The Ardana token (DANA) is a cryptocurrency that powers the Ardana ecosystem. The token is both the governance and native utility token of the Ardana blockchain protocol. You can check the DANA price on the live Ardana price chart above. DANA token is just one component of the larger and comprehensive Ardana ecosystem.

Ardana is a decentralized finance (DeFi) hub built on the Cardano blockchain. The main goal of the project is to empower Cardano users with necessary DeFi primitives to bootstrap and sustain any economy to the Cardano blockchain network. Ardana has developed two main products to help achieve its main goal.

The first product is a decentralized stablecoin platform. This platform allows users to generate stablecoins against Cardano native assets, leveraging such assets. Ardana Dollar (dUSD) was the premier stablecoin on the network at launch. dUSD is decentralized, on-chain, collateral-backed crypto. It is soft-pegged to the US dollar.

The second product is Danaswap, a decentralized exchange (DEX) for stable multi-asset pools. Danaswap is an automatic market maker (AMM), meaning it is running on smart contracts. The DEX enables high-frequency swaps between stable asset sets. It also provides an earning opportunity for users through liquidity provision rewards and trading fees. Besides, the platform offers ultra-low slippage for users swapping between stablecoins and stable assets such as wrapped/synthetic Bitcoin. Users can also swap between international stablecoins such as dUSD,dGBP, and dEUR.

These two products enable the Ardana ecosystem to function independently while still enjoying symbiotic relationships with DeFi protocols in the Cardano ecosystem.

Use Cases of DANA Tokens

As a utility token, DANA rewards holders with profits generated from the network fees. The token holders share a percentage of the fees depending on the number of tokens they hold. Besides that, users can deposit their DANA coins to the protocol's savings accounts and earn decent interest. Additionally, DANA is a governance token, allowing holders to vote on changes affecting the further development of the Ardana crypto project.

Token holders can also time-lock their DANA tokens in the Ardana Reward Enhancement Module (AREMA) to receive exDANA. Holders of exDANA have the right to take part in governance, earn a proportionate amount of protocol revenue, and benefit from higher DANA APY obtained from participating in certain Ardana liquidity mining activities.

Interested in buying Ardana coins? Before doing that make sure to analyze the current and the previous DANA price. You can do that using the Ardana price chart above.

Who Founded Ardana?

Ryan Matovu founded Ardana in 2021. He is also the founder of the first layer-2 zk-rollup scaling solution on Cardano. Matovu has years of experience in blockchain, working as a leader for various projects.

Tokenomics of DANA

DANA has a maximum supply of 125 million tokens. The fixed token supply prevents inflation. The Ardana price is likely to increase with the increase in demand for the token due to the fact that the supply is fixed. DANA token allocation is as follows:

• Liquidity Mining Rewards – 40%
• Token Sales – 28.5%
• Ecosystem Development and Treasury – 11.5%
• Founders, Team, and Advisors – 15%
• Exchange Liquidity – 5%