Ardana to Build a Bridge Between NEAR and Cardano Following a New Partnership

Ardana, the DeFi and stablecoin hub built on the Cardano ecosystem, announced today that it has entered into a strategic partnership with the decentralized application (dApp) platform, NEAR.

According to an official press release shared with CryptoPotato, the collaboration will see Ardana build a bridge infrastructure to facilitate the seamless transfer of assets between Cardano and NEAR.

NEAR describes itself as a vibrant ecosystem that is secure and scalable and focuses on both developer and user experience.

Speaking on the partnership, the CEO of NEAR Foundation, Erik Trautman said, “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.”

With the partnership and subsequent integration of projects on both the Cardano and NEAR ecosystems, Ardana will facilitate the transfer of tokens from Cardano to NEAR and vice versa, with cross-chain smart contract functionality to be added in the future.

NEAR on Cardano

Additionally, NEAR’s native cryptocurrency will also be made available as an asset on Cardano, and it will be utilized as collateral to mint stablecoins on Ardana.

Ardana’s CEO and founder, Ryan Matovu added, “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.”

As per the release, the partnership deal comes with a grant. However, the amount involved was not specified.

Ardana Completes Second IDO

Just a few weeks ago, Ardana announced the successful completion of its second initial DEX offering (IDO), barely a week after it completed the first.

This second IDO saw Ardana raise $500,000 from several investors.