Our team is excited to announce & onboard Dera as our latest partner. Dera is building an application layer of money. The rise in Web3 tokenization gave rise to currencies native to a particular ecosystem, for example, Sand, Mana, APE, etc. Users who held these currencies were unable to use these currencies outside of the ecosystem, leading to lower personal liquidity. 

Companies also risked all of their & their community’s assets in the native tokens. These companies also can’t use common value-backed currencies like USDC or ETH because that would lead to lower brand recognition & also lead to losing out on the potential upside. 

Dera is solving these problems by building an application layer for digital currencies. Dera is used to settle transactions, while the underlying assets earn an organic yield by being a liquidity provider in decentralized protocols. 

Dera, along with liquidity, also provides a branding layer where the protocols can incorporate their name and logo into the currency. This helps become a best-of-both-world solution, giving brands recognition and users their desired liquidity. 

‍How does Dera Foundation align with Arcana’s mainnet?‍

Dera aims to create additional revenue streams by unlocking the trapped value. The aim is to create a product that is accessible to everyone. They aim to cover the following points to make the product user-friendly for native and non-native Web3 users. Arcana Network’s Auth SDK can solve all of these problems by helping Dera Foundation with

• Passwordless login mechanism 

• Social login

• Embedded wallet without the need to install Web3 wallets

• On-ramp and Off-Ramp

• Extremely fast user onboarding. 

As a part of our onboarding commitment, we will be helping Dera foundation by supporting them in areas around product, growth, and community building and helping them launch on Arcana’s Mainnet.

About Arcana Network

Built for Ethereum and EVM-based chains, Arcana is the web3 infrastructure to quickly onboard dApp users and enable user data privacy and ownership. Web3 developers use Arcana’s SDKs for a seamless, familiar user onboarding experience via social authentication and passwordless login. In addition, all user data is encrypted, secured with data access fully controlled by the users, and powered by blockchain.

Arcana has raised 2.7Mn USD from some of the leading investors and founders in the ecosystem, such as Balaji Srinivasan, Founders of Polygon, Woodstock, Republic Crypto, and Digital Currency Group.

Arcana Mainnet is live. Check it out official Links: Website | Telegram | TG Announcement | Twitter | Medium| GitHub | Discord |