Ardana, one of the leading Decentralized Finance (DeFi) services and successful stablecoin project on Cardano, suddenly halted development on November 24 . The reason given is “uncertainty about the financing and the schedule”. At least in the form of open source, the project remains open for further development, meanwhile the funds of the DeFi app will continue to be managed by Ardana Labs “until another competent development team is found who wants to continue our work”. It goes on to say:
“Development on Cardano is difficult because a lot of money has to be invested in tools, infrastructure and security. Added to this is uncertainty about the further development, which has now caused us to stop developing the dUSD.”
The move comes as a surprise to many crypto users because of its suddenness. However, problems in the project had already become apparent in recent weeks. Among other things, an Initial Stake Pool Offering (ISPO) was held at the beginning of July to collect additional investment capital. However, no Cardano
ADA
However, the crypto winter has also seen DANA and ADA fall, with the Ardana cryptocurrency plummeting a massive 99.85% over the past year.
In January, the developers had announced full-bodied that all development projects were about to be completed, only the delays from Cardano would put a spanner in the works. However, the community saw this more as an excuse, as one voice put it :
“Seems like you want to shift the blame to Cardano for lack of motivation and will yourself. You chose the network and now you give up. Competitors like Axo will be happy and take all the credit.”
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