Ardana Vaults will allow users to generate stablecoins against locked Cardano native token collateral deposited in our vaults. Ardana Vaults is a non-custodial & permissionless protocol and all generated stablecoins are backed on-chain by an excess collateral
dUSD is easy to access, generate and use. Users generate dUSD by depositing collateral assets into vaults within our protocol through unique smart contracts known as Collateralized Debt Positions (CDPs). This is how dUSD is entered into circulation and how users gain access to liquidity. Others obtain dUSD by buying it from brokers or exchanges, or simply by receiving it as a means of payment. Once generated, bought, or received, dUSD can be used in the same manner as any other cryptocurrency. It can be sent to others, used as payments for goods and services, and even held as savings.
Every dUSD and/or its corresponding currency variant in circulation is directly backed by excess collateral, meaning that the value of the collateral is higher than the value of the dUSD debt and all dUSD transactions are publicly viewable on the Cardano blockchain.