Cardano-based stablecoin hub, Ardana has announced that it will be conducting the first of two public sale rounds for its native token DANA in October.
Public Token Sale set for October 28
The public sale will be conducted on its website at https://sale.ardana.org and provide its bolstering community with the opportunity to purchase its utility token DANA.
Interested participants will be required to submit their applications and complete KYC during the registration phase starting October 14, 2021, by 2 pm UTC. Ardana has allotted 8,000 slots for the registration phase, with 2,000 slots for the final token sale phase.
The public sale is scheduled to hold on October 28 2021, by 2 pm. A total of 1,666,666 DANA tokens will be made available for public sale at a base price of $0.60 per token. Participants are capped to a maximum allocation of $500 per token address.
After the token sale, 30% of the tokens will be released initially. The remaining allocations will be released across two months (30% and 40%, respectively). Participants can buy DANA tokens using USDT, USDC and ETH using ERC-20 wallets and supported wallets like MetaMask.
Once the token sale is over, participants will be required to set up a secure Cardano wallet to receive and store their DANA tokens. Interested participants can follow this instruction to get started.
A Major Milestone for Ardana
The launch of the Ardana public sale represents a significant milestone for the fast-growing stablecoin hub.
According to Ardana, the public sale is designed to be as inclusive as possible, and there are several parameters added to achieve this.
This includes implementing a low contribution threshold to prevent manipulation by whales, ensuring all community members have a fair chance to partake in the sale, and ensuring the base price of the token is minimal.
Ardana also revealed that a second token sale would be holding on the Occam launchpad with key details announced in the future.
Ardana is Cardano’s stablecoin hub which will bring the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano.
Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX. The stablecoin is verifiably backed by an excess of on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets.
The DEX is a highly capital efficient exchange enabling swaps with minimal slippage & fees while providing low-risk yield opportunities to liquidity providers.
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