Three Arrows Capital and Ascensive Assets Fund Ardana Stablecoin on Cardano

By Novasky | DevPress | 13 Feb 2024


Some things are just red alert and you can spot them by miles. Cardano is one such red alert and a chain that is very hard to trust. You can day trade with cardano but they are VC funded chain and any day they can rug pull. Most of the projects on cardano just wipe out the funds and close. It's kind of like creating fake projects get people excited and then make the money and do the exit legally. 

Ardana which was a DeFi project did exactly the same. They created a DeFi Hub and then made sure that they develop the automated money marker and then they also added components like Ardana Swap and other modules going too. And then they halted the development. You can check their twitter, no movement nothing at all. And now they have suddenly got the funding through 3 Arrows and Ascensive Assets. 

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They got the funding and now all of sudden the red project with tokenomics is now turning into the green. People say that ardana is just going to rug pull investors. But knowing cardano chain and how the investors are using the crypto to swap their gray money into white we have to understand this kind of looks pre-planned. 

If you check the URL of the ardana it's not even alive right now. Still they got the funding from the investors. I have no clue how come such type of stuff has been happening. And Considering the possibility of the Cardano being any good form of the platform, I just find this whole scenario a game where the investors are investing into a dead project and trying to create a stablecoin. I mean stablecoin that forms the foundation over a dead project with investors trusting the team like this. 

If you are Cardano investor or even doing trading. Be aware of such sharks in the water. Your investment into such scams is likely to be causing more problems than it can be any worthy of investments. 

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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