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Ardana to Bridge Cardano (ADA) and Near Protocol (NEAR), Here's How

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Tue, 11/23/2021 - 14:00
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Vladislav Sopov
First Cardano's stablecoin hub to be seamlessly connected to another 'Ethereum killer'
Ardana to Bridge Cardano (ADA) and Near Protocol (NEAR), Here's How
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Two leading “Ethereum killers” of 2021 will have a seamless value bridge designed by Ardana DeFi product

Ardana partners with Near Protocol (NEAR), teases ADA/NEAR bridge

According to the official announcement shared by the Ardana team, a first-ever stablecoin hub and DeFi project of the Cardano (ADA) ecosystem, it has scored a partnership with Near Protocol (NEAR).

Ardana launches a bridge between Near and Cardano
Image by Ardana

The partnership includes a grant from the NEAR Foundation that will fuel the next phases of Ardana’s development progress.

Establishing a reliable, fast and secure ecosystem for value transfer between Cardano (ADA) and Near Protocol (NEAR) is the core focus of this collaboration.

Ryan Matovu, Ardana CEO and founder, stresses that this collaboration is a crucial one for both the Cardano (ADA) and Near Protocol (NEAR) ecosystems:

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.

One bridge, many use cases

Erik Trautman, NEAR Foundation CEO, emphasized that developing a bridge is aligned with Near’s “multi-chain” vision:

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.

Basically, the new instrument will allow NEAR to exist on Cardano’s (ADA) smart contracts and be seamlessly integrated into Cardano-centric DeFi infrastructure.

Also, NEAR token will be accepted by the Ardana hub as collateral for stablecoin minting initiatives.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)