On November 23, the decentralized ecosystem on Cardano Ardana tweeted that it had stopped developing due to funding and project timeline uncertainty.
Hello, a community of Ardana
To produce a decentralized financial system that benefits everyone, from international financial organizations to Ethiopian farmers, the Ardana protocol set out to build an ecosystem for Cardano that goes above and beyond current standards. Though its destiny is currently quite uncertain, it might yet find life in new hands.
The business went on to add in the tweet’s comment area that the lack of financing for tools, infrastructure, and security has made the development of Cardano challenging. Along with this uncertainty, it appears that the best course of action at this moment is to cease the development of the USD.
According to the business, Ardana Labs will hold onto any remaining cash and treasury balances until a reputable development team steps forward in the neighborhood to take over their work.
According to the statement:
We want to thank all of you for your support throughout our development. We will continue to be involved in the Cardano community. More updates surrounding the ongoing ISPO will be coming soon.
FUD Floating Around Ardana Project
Pete, the Cardano ambassador, previously warned against the Ardana Project in a thread on Twitter. He said FUD was floating around for ArdanaProject.
Additionally, he emphasizes that there has been a lot of activity across several distinct sub-repos and there are “just fake commits.” Pete said:
They’ve been busy here, with a larger team and a lot more commits. The number of branches kinda scares me. How does anyone keep that many branches under control?
After his tweet, the community also displayed concerns and said, “These are legitimate concerns.” Because Ryan Matovu, the creator of Ardana and Orbis, was engaged in two additional projects (YFD & Plethori) that have been proven to be fraudulent, which has caused FUD.
However, the concerns come true. Following Ardana’s announcement, Orbis, a venture closely related to Ardana, has also stopped further development. Moreover, until a future date when a continuing strategy for the primary zk-roll-up solution is laid out, the NFT also has been suspended.
Similarly, they offer the same explanations, stating that the project has come to an end owing to insufficient funds and unknown circumstances. Additionally, until further notice, the community groups have also been halted.
As per the tweet’s comment section:
This was an unexpected result due to committed investors very recently pulling out of the project and recent events in the crypto space which affected Orbis directly.
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