Cardano, gets a new boost thanks to the launch of the DJed stablecoin which has been in development and audit for over a year before its official introduction on the Cardano mainnet.
The DJED stablecoin is backed by SHEN and ADA, and is pegged to the US dollar. COTI, a DAG-based Layer 1 protocol and the official issuer of the stablecoin, believes that this launch marks a new era for stablecoins. Know the details!
DJed, an over-collateralized stablecoin.
DJed has been designed as a one-time reserve test to stabilize and protect your valuables in the midst of any market situation and is over-collateralized between 400% and 800%.
The protocol will stop burning SHEN and minting new DJED if the pool rate drops below 400%, while if the pooling ratio exceeds 800%, users will not be able to mint any more SHEN. Instead, they will be allowed to mint and burn stablecoin arithmetic.
Unlocking new opportunities in the Cardano ecosystem.
The DJED stablecoin hopes to unlock new opportunities in the Cardano ecosystem, including payments, and decentralized finance, among other things. There are already more than COTI partner entities that have adopted DJED and COTI and DJED can be accessed on Cardano-based decentralized exchanges such as WingRiders, MinSwap and MuesliSwap. Furthermore, Bitrue will become the first exchange to list both SHEN and DJED.
To end.
The launch of the DJed stablecoin on the Cardano mainnet brings a new impetus to the cryptocurrency and marks a new era for stablecoins. DJed is an over-collateralized stablecoin that seeks to stabilize and protect its value in the midst of any market situation. With more entities adopting DJED and accessing COTI and DJED on decentralized exchanges, the stablecoin is expected to unlock new opportunities in the Cardano ecosystem.
