Cardano ( ISLAND) based DeFiand stablecoin project Ardana ( CALF), citing funding and project uncertainty, decided to cease its services.
The turmoil of the crypto bear market and the global economy has put players in the industry in trouble. Many projects are going through shaky periods in terms of investment and management. Especially FTX The situations experienced and experienced by the stock market affected millions of investors. Institutional companies and investment companies are looking for ways to survive. On the other hand, bankruptcies and closings also drew attention. Cardanobased Ardanadecided to close the shutters after difficult processes.
Cardano-Based Ardana Suspends Services In Light Of Financing And Uncertainty
Cardanobased DeFiplatform Ardana ( CALF), last year Three Arrows Capital ( 3AC) by raising $10 million from an investment round led by
strong project, stablecoin He turned to export and foreign exchange services. In the company’s policy, MakerDAOand of Cardanostrong DeFiwas included in the project.
However, the crypto bear market DANA also affected. The DeFi project has ceased its services, citing funding constraints and the project timeline. In addition, the company underlined that it will leave the code structure of the project to the developers as open source.
