Cardano ($ADA) Stablecoin Hub Ardana to Build Bridge Between Cardano and Near Protocol

The future of the blockchain could be a multi-chain approach to networks, creating a master structure where transactions can be freely conducted across an entire ecosystem of chains. A new collaboration between Cardano ($ADA) and NEAR Protocol ($NEAR) is bringing this closer to life, with its infrastructure bridge.

According to a press release shared with CryptoGlobe Ardana ($DANA), which is the all-in-one hub for stablecoins on the Cardano network, and NEAR, an advanced decentralized application platform, will share interconnectivity, with value and data transferal across both the Cardano and NEAR infrastructures.

All-in-one stablecoin hub for Cardano

Ardana gives its users the ability to mint, trade, stake and store value on its platform. Its native token DANA is already listed on Gate.io, BitMart and MEXC.

The protocol gives users access to an on-chain verifiably asset-backed stablecoin, where they can use leverage on ADA and other native assets to amplify the value of their positions.

Ardana also hosts a decentralized DEX, with an emphasis on stablecoins and stable assets. The DEX promises limited slippage, deep liquidity and the ability to trade swaps, as well as giving access to high yield investment opportunities for those who stake their holdings.

CEO and Founder of Ardana, Ryan Matovu said:

“Ardana is on a mission to provide the crypto community with seamless integration between different projects and ecosystems. With that in mind, we are thrilled to announce a partnership with NEAR that will bring Ardana closer to this goal. The collaboration will help both organizations explore new avenues of growth in the emerging ecosystem of blockchain technology and will prove to be a landmark in the future for blockchain scalability.”

NEAR scaling up for Web 3.0

NEAR is a blockchain that processes and moves transactions at warp speed. NEAR’s longer term goal is to scale up and help build Web 3.0. NEAR has many fans and has enjoyed various funding rounds, with backing from significant venture capital firms, including 16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.

According to NEAR’s CEO, Erik Trautman, “NEAR’s vision always envisioned a multi-chain world, whereby each blockchain could seamlessly talk and exchange data between one another. Ardana to aid in the creation of a multi-chain world, and integrations like this help realise that goal.”

The partnership with both protocols helps expand the capabilities, and functionalities of both ecosystems, while directly linking Cardano and NEAR for its users who want to transfer value quickly and safely between the two, and then later on engage in cross-chain smart contract functionality.

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT
Featured image via Unsplash

Source: Read Full Article