The decentralized finance (DeFi) ecosystem of Cardano (ADA) blockchain gains steam as the Ardana hub starts a joint liquidity program with Optim Finance.
Optim Finance is now able to leverage Ardana's liquidity
According to the official announcement shared by Cardano's DeFi pioneers Ardana and Optim Finance, the two have entered into a strategic partnership.
What do #Ardana & Optim have in common? Both strive to make #CardanoDeFi better every single day. ?— Ardana - DeFi Hub of Cardano (@ArdanaProject) March 9, 2022
? Ardana is thrilled to announce a partnership w/ @OptimFi, a leader in the #Cardano yield aggregation/asset management space. ? pic.twitter.com/6IWNDtkdGX
Optim Finance, a top–tier yield generation and liquidity management solution for largest Proof-of-Stake network Cardano (ADA), can now leverage the liquidity injected into Ardana (DANA).
Then Optim Finance's vaults will utlize Danaswap, an Ardana solution for seamless noncustodial crypto exchange, to make its liquidity logistics more efficient and profitable.
With the new partnership, the unique stable assets ecosystem of Ardana (DANA) also becomes accessible for Optim Finance mechanisms.
DANA rewards will motivate Optim Finance's LPs
The new partnership unlocks multiple novel passive income opportunities for Cardano (ADA) enthusiasts. Optim Finance clients can stake their LP tokens in the Ardana Rewards Enhancement Module (AREM).
Also, Ardana starts distributing DANA rewards for the LPs of Optim Finance. DANA tokens can be used as a utility and governance token for a wide range of products with Ardana's architecture.
In turn, DANA rewards can be restaked in AREM to receive exDANA, another Ardana token, for yield farming and governance referendums.
As part of the new partnership, the two teams will test cutting-edge DeFi modules: NFT contracts, "programmable escrows" and so on.
Representatives of two teams are thrilled by the opportunity to push the barriers of decentralization on Cardano (ADA) blockchain:
Optim Finance and Ardana are excited to work together on a number of products and integrations that will enhance the mutual success and ecosystem growth as a whole. We look forward to further building Cardano DeFi together and having our communities benefit from the exciting opportunities this partnership will bring forth.
As covered by U.Today, Ardana (DANA) is the first one-stop liquidity, stablecoin and DeFi hub for the Cardano (ADA) ecosystem. In November 2021, it secured $1.5 million in two public token sales.
Also, it made headlines by building a Cardano-Near decentralized bridge for value transfer between the two "Ethereum killers."