Each mission and its respective ecosystem depends on a local utility token for quite a lot of causes, corresponding to serving to energy the underlying community, staking to attain consensus, and appearing as a governance mechanism. They basically perform because the spine of the mission.

Ardana just isn’t totally different. Earlier than diving into Ardana’s utility token, although, it’s necessary to know what the mission truly does. Ardana is a DeFi hub constructed on Cardano. It boasts a robust decentralized stablecoin platform that permits customers to borrow stablecoins in opposition to collateralized ADA tokens and an AMM (Automated Market Maker), Danaswap, the place merchants can seamlessly swap between supported secure belongings.

Not solely is Ardana constructing the primary complete Cardano-based stablecoin ecosystem, but it surely’s additionally introducing new use instances for stablecoins as a complete.

Inside this ecosystem lies the DANA token, its newly-launched flagship asset that’s instrumental in upholding Ardana’s very basis.

DANA Token Overview

DANA is the governance and utility token for Ardana, constructed on the Cardano blockchain to optimize its velocity, scalability, and effectivity. It supplies nice advantages to holders who stake the token; they’re given a portion of the protocol’s buying and selling charges in return as a reward. Furthermore, from a governance perspective, holders are capable of have a say in making choices about future mission initiatives by way of voting.

The Ardana Reward Enhancement Module (AREM) is a mechanism to reward DANA token holders with a sure proportion of the platform’s stablecoin and Danaswap charges. This incentivizes additional participation within the community and maintains storage of the token.

exDANA

exDANA tokens give customers the flexibility to entry Ardana’s profitable platform options, serving because the platform’s secondary token that can’t be traded or transferred. To be able to obtain exDANA, customers are required to time-lock their DANA tokens within the AREM.

Holders of the token obtain a number of further advantages, corresponding to:

• Proportional allocation of platform income (by way of charges)
• Governance and voting rights
• Increased APY on DANA tokens from becoming a member of liquidity mining applications

Liquidity Mining Applications

Ardana has additionally launched liquidity mining applications, the place DANA token holders can provide liquidity and obtain returns for doing so. The applications enable the protocol to execute trades extra easily and seamlessly.

The liquidity mining applications shall be segmented into 90-day intervals, and each program will include its personal aim and plan with regard to token distribution in every timeset. These guidelines have been put in place to make sure that Ardana’s group can take care of exterior environmental modifications whereas maintaining with the most recent within the blockchain house.

General, these applications are one other solution to incentivize participation within the community for all customers holding the DANA token, rising and cementing its utility and makes use of.

Current Launch

Ardana just lately launched its DANA token by way of an IDO (Preliminary DEX Providing) public sale on October 28, 2021, permitting its group members to get in on the mission’s floor ground. The general public sale was performed pretty by limiting the contribution of every participant to get rid of value manipulation.

To obtain and retailer DANA, customers can obtain and arrange a Cardano pockets. 

The token shall be listed on November 22, 2021, at 2:00 PM UTC time – the next exchanges shall be supporting $DANA as their latest addition:

All exchanges shall be using the $DANA/$USDT token pair. Extra buying and selling pairs are prone to be launched sooner or later, to be decided by the exchanges.

Customers of those exchanges will now have the flexibility to retailer and swap their $DANA, including liquidity to every platform and the token itself for Ardana customers.