Ardana, a decentralized stable build on Cardano, has abruptly halted development by DailyCoin

Ardana, a decentralized stable build on Cardano, abruptly halts development

Ardana, a stable, decentralized blockchain-based ecosystem (ADA), has been forced to halt development due to lack of funding and uncertainty in the project schedule.

Ardana Stablecoin has stopped development

Ardana Labs, the team behind the decentralized asset stablecoin (dUSD) liquidity pool being built on top of the Cardano network, has announced the halt of its project due to “uncertainty in the funding and project schedule.” The project tweeted:

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However, the “All-in-One First Stable Ecosystem” development team noted that the code for the Ardana project will remain open source. Development teams can build on it if they wish.

In addition, Ardana Labs said it will hold the remaining funds and treasury balances until “another competent development team” steps forward to continue work on the project.

Building on Cardano is hard

Ardana explained that building Cardano was difficult. Much of the funding, they added, went into “tools, infrastructure and security”. Ardana is not the only project facing difficulties.

Orbis, a project aimed at addressing Cardano’s scalability, has also halted its development. However, the SundaeSwap team is trying to buy any infrastructure or internal tools developed in the last year.

on the flip side

  • Jedd, a collateralized stablecoin built on the Cardano ecosystem in partnership with COTI, will be Launched in January 2023.

Why should you bother

Halting after years of development and raising $10 million in October 2021 caused the Cardano community to label the project a scam.

Read about other stablecoins on the Cardano ecosystem below:

EMURGO will launch its first Cardano-regulated stablecoin, USDA, in Q1 2023

Other developments at Cardano are covered below:

Charles Hoskinson (DOGE) is calling for Cardano (ADA) to become a free sidechain

See the original on the Daily Queen

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