According to Hoskinson in a new video, as an early investor in the discontinued stablecoin project, his investment now appears to be a total loss.

Read Also: Charles Hoskinson Thinks Dogecoin Should Be a Cardano Sidechain

Hoskinson further stated that rather than taking responsibility for the failure, the Ardana management chose to blame the Cardano network.

Charles Hoskinson noted:

“I saw over the last few days some grumblings about [Ardana] having issues, and then on Twitter, a tweet came out that they have now discontinued operations, or at least they’re scaling back to the point where they’re no longer going to be able to deliver what they promised they were going to deliver.

“Now, I was an investor in [the] projects through the C fund… It looks like it is probably a total loss, and what was incredibly distasteful to me was the management of these projects blamed Cardano for their failures…

“I will remind everyone that Ethereum raised $18 million of which they only got to deploy $9 million because they lost $9 million to market volatility and they can hedge their Bitcoin properly and they delivered the second-market cryptocurrency in the world. This was not a funding issue. This was not a platform issue. It looks like it was a leadership issue…

“My understanding is, having talked to the C fund, that the first time we were informed that these projects were having trouble was through Twitter, the same time as you guys, which is utterly distasteful, and it shouldn’t happen.”

Read Also: Charles Hoskinson Touts New Wallet Conceived To Take Cardano To A Billion Users

Recall that Ardana management said in a tweet on November 24 that it decided to halt the development of the project because building on the Cardano blockchain was difficult.

Ardana announced:

“Unfortunately due to recent developments with regards to funding and project timeline uncertainty, the Ardana project has had to come to a halt. Our code will remain open source for builders to continue our work going forward as they wish.

“Development on Cardano has been difficult with alot of funding going into tooling, infrastructure and security. This alongside the uncertainty around development completion has led to the best course of action being halting development of dUSD.”

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The post Charles Hoskinson: Blaming Cardano for Ardana Stablecoin Failure is Incredibly Distasteful appeared first on Times Tabloid.

The future of the blockchain could be a multi-chain approach to networks, creating a master structure where transactions can be freely conducted across an entire ecosystem of chains. A new collaboration between Cardano (ADA) and NEAR Protocol (NEAR) is bringing this closer to life, with its infrastructure bridge.

Read Also: Charles Hoskinson: 2022 Is About Optimizing Throughput and Connecting Sidechains, It’ll Be a Fun Year for Cardano

Going by a press release shared a couple of hours ago, Ardana ($DANA), an all-in-one hub for stablecoins on the Cardano network, and NEAR, an advanced decentralized application platform, will share interconnectivity, with value and data transferal across Cardano and Near infrastructures.

Importance of Ardana to Users

Ardana gives its users the ability to mint, trade, stake, and store value on its platform. Its native token DANA is already listed on Gate.io, BitMart, and MEXC.

The protocol gives users access to an on-chain verifiably asset-backed stablecoin, where they can use leverage on ADA and other native assets to amplify the value of their positions.

Ardana also hosts a decentralized DEX, with an emphasis on stablecoins and stable assets. The DEX promises limited slippage, deep liquidity, and the ability to trade swaps, as well as giving access to high yield investment opportunities for those who stake their holdings.

Read Also: Charles Hoskinson: Many Great Innovations Are Joining Hundreds of Projects Building on Cardano

Reacting to the new development, CEO and Founder of Ardana, Ryan Matovu said:

“Ardana is on a mission to provide the crypto community with seamless integration between different projects and ecosystems. With that in mind, we are thrilled to announce a partnership with NEAR that will bring Ardana closer to this goal. The collaboration will help both organizations explore new avenues of growth in the emerging ecosystem of blockchain technology and will prove to be a landmark in the future for blockchain scalability.”

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The post Cardano (ADA) Stablecoin Hub to Build Bridge between Cardano and Near Protocol appeared first on Times Tabloid.