What is the DANA token?
DANA is the governance token of Ardana.
What is the DANA token used for?
- Yield farm
- Timelock to receive exDANA
What is Ardana?
Ardana is a DeFi hub on Cardano for borrowing dUSD stablecoin and swapping stablecoins on Danaswap.
How does Ardana work?
Ardana allows minting of dUSD stablecoin against collateral locked.
Danaswap allows fast and low-slippage swapping of stable assets.
Stablecoins are generated through CDPS (collateralized debt positions).
- Vaults have a stability fee
- Loan to value (LTV) %
A percentage of the stablecoin revenue will be sent to the buffer. This serves to maintain the price stability of stablecoins.
- dUSD reserve will participate in collateral auctions when undercollateralized loans do not have sufficient liquidations.
Uses excess in Stability buffer to buy liquid assets also to maintain price stability.
Here’s an overview of the protocol.
- Add new collateral asset
- Risk variables
- Choose oracles
- Trigger shutdown
- Freezing oracles
Users can timelock DANA to receive exDANA, and be able to:
- Participate in governance
- Earn liquidity rewards in DANA.
Users can also stake DANA in Ardana savings module or provide liquidity to to earn liquidity rewards.
Total supply: 125,000,000
- Sale – 28,5%
- Liquidity – 5%
- Team, Advisors – 15%
- Ecosystem – 11,5%
- Liquidity mining – 40%
Private Sale Price: $0.30
Public Sale Price: $0.60
The Dana token sale is taking place in October.