Ardana companions with Near protocol on Cardano bridge infrastructure
Ardana, Cardano’s rising stablecoin hub, introduced a strategic partnership with Near protocol on Nov. 23. The partnership permits for asset switch between the 2 protocols wherein Ardana will give you the bridging infrastructure.
Ardana is a decentralized stablecoin hub constructed at the Cardano community. While Ardana (DANA) is its governance token, it is going to use dUSD as verified on-chain collateral to allow debtors to take leverage on their Cardano (ADA) or different supported belongings.
Thanks to its bridge with Near protocol, Cardano customers will quickly have the ability to switch belongings from Cardano to Near and vice versa. The NEAR (NEAR) may also quickly be to be had as an asset on Cardano. NEAR will function collateral on Ardana to mint stablecoins.
Using proof-of-stake consensus, Near already works along Ethereum, Polkadot, Cosmos and others. Adding Cardano to its portfolio of gen-three blockchains will bolster the community and convey additional integrations between Cardano’s companions reminiscent of Ardana. Ryan Matovu, Ardana CEO and founder, stated:
“The collaboration will lend a hand each organizations discover new avenues of enlargement within the rising ecosystem of Blockchain generation and can turn out to be a landmark someday for Blockchain scalability.”
He informed Cointelegraph that Adana partnered with Near as a result of “They are a most sensible ecosystem with cast generation.”
The information comes sizzling at the heels of Cardano’s robust enlargement in adoption. The community just lately surpassed the two million pockets mark, and in keeping with the Cardano Foundation, the former milestone of one million ADA wallets used to be reached simply six months in the past.
“NEAR’s imaginative and prescient all the time envisioned a multi-chain global, wherein every Blockchain may just seamlessly communicate and change information between one any other. Ardana to assist within the introduction of a multi-chain global, and integrations like this lend a hand realise that function,” stated Erik Trautman, CEO of NEAR Foundation.
The partnership for NEAR follows a string of partnerships during the last six months, together with Alchemy Pay, Ceramic and Octopus Network.
Ultimately, Charles Hoskinson’s imaginative and prescient for the community is that Cardano “will win, as an ecosystem, as a motion.” Partnerships, bridges and Blockchain integrations will additional the Cardano Foundation function.