5 hours ago | 3 mins read
Altcoin News
Ever since Cardano went live on the mainnet, hundreds of promising projects have joined the network, including decentralized applications (dApps), decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and metaverse projects, just to name a few.
Ardana is one such Cardano-native project that aims to unlock DeFi primitives on the Cardano blockchain. As an all-in-one DeFi hub for Cardano, Ardana is building a wide range of products powered by its over-collateralized and asset-backed stablecoin dUSD (Ardana Dollar). To date, the Ardana ecosystem consists of a decentralized exchange (DEX) and an on-chain asset-backed stablecoin protocol designed to meet the growing demand for DeFi and liquidity on Cardano.
Furthering its vision to position Cardano as a frontrunner in today’s hyper-competitive DeFi market, the Ardana team has partnered with Metadams, the first-of-its-kind Cardano-based play-to-stake metaverse. With this strategic partnership in place, the Metadams team will help the Ardana team build their first digital branch in the metaverse.
This new tie-up will support Metadams users as they seamlessly interact with the Ardana ecosystem without ever having to leave the Metadams metaverse. As the partnership develops, both platforms will work together to expand Ardana’s digital branch further, making it a preferred destination for the broader crypto community to congregate.
Making Cardano Attractive For Users
Cardano-based projects, especially DeFi-related projects, are yet to operate at full capacity. Moreover, community participation is still very much in its early stages. Accordingly, this partnership between Ardana and Metadams will play a critical role in engaging more users and encourage the remainder of the cryptoverse to participate in the Cardano ecosystem.
Ardana stands out as the first DeFi hub of Cardano. Built by experienced professionals from leading mainstream organizations like Barclays, Microsoft, and Apple, Ardana’s DEX, powered by the platform’s stablecoin dUSD, empowers users to access on-demand borrowing. Since the dUSD is over-collateralized with ADA (Cardano’s native token) and other Cardano-native assets, it allows users to trade stablecoins and other identical assets with high capital efficiency, low costs, and equally low risks, positioning it as an attractive financing tool.
Metadams, on the other hand, is Cardano’s first play-to-stake metaverse project. By incorporating gamification techniques with the usual process of staking ADA, Metadams enables users to generate promising rewards over time. The platform offers different base reward rates while introducing a new way to play games, thereby delivering a gaming and earning experience that’s concurrently fun and exciting for users.
Usually, Cardano users stake their ADA in the network’s classic staking pools that stand to earn around 4.8% staking rewards. However, when a user stakes their ADA in Metadams’ staking pools, they can potentially earn higher in-game rewards for performing specific tasks. On top of this added-value, Metadams redistributes 100% of the staking rewards among players, in keeping with the core vision of the platform, which is focused on expanding the Cardano community.
In addition to partnering with Ardana, Metadams has also joined forces with other Cardano-based projects that can benefit from its inherent features. The big names on the list include Cardanians, Chilled Kongs, Epoch Art, Muesli Swap, Rats DAO, and several others, thereby attempting to bring the very best characteristics of the Cardano ecosystem under one roof into a single metaverse.
The partnership between Ardana and Metadams, paired with Cardano’s speed, scalability, and security, will not only lower DeFi’s entry barriers, but more importantly, also support a sustainable ecosystem focused on offering decentralized liquidity and added value for everyone.
