Stu Lustman, one of the Altcoin Buzz analysts, shared that he expects “wildly bullish” about the altcoin project that comes into play with a new stablecoin.
Altcoin that we will rally in 2023 and 4 reasons
One of the related projects, Coti (COTI), has gained over 85% in the last 30 days. This rally is based on being one of the developers behind DJED, the new stablecoin to be launched on Cardano. With the Tron network making the move to the stablecoin market with USDD at the beginning, we also saw new work in this area from COTI and Cardano. The teams even published a report today suggesting that DJED is one of the most reliable stablecoins.
While the DJED stablecoin has algorithmic features, it differs from other collapsing stablecoins like Terra-UST or Tron-USDD in several respects. As a Cardano token, the collateral backing DJED will be ADA. Plus, it can reach the Cardano network at any time. cryptocoin.com We have included details about the planned promotion for February 14th in this article. Here are a few ways you can earn money on DJED in different ways:
- Get and use DJED and earn more using DeFi apps like you would any other stablecoin.
- Another method is to buy the native token COTI if you think DJED will be successful. If successful, COTI becomes more valuable for network payments.
- Another is via SHEN. SHEN is a reserve cryptocurrency for minting and burning DJED. Always available for the ADA. If you own SHEN, you get discounts on mint fees from DJED as well as new delegation rewards. As DJED becomes more popular, SHEN earns more.
- One final way you can monetize DJED is by purchasing ADA. The Mint feature means more ADA will be locked as part of the DJED resource. This means that with massive staking percentages of over 70% already locked in, the actual liquid supply of ADA for trading or just fundamental trading will drop.
COTI App Chains is getting more popular
Despite the crypto bear market, the lack of developer activity was a sign of the bright future of Blockchain technology. Application chains in a new domain seen in several different ecosystems – App Chains. App Chains are Blockchains designed to run a specific set or type of application.
COTI is an example of this. As one of the companies behind DJED, in a joint effort with Cardano they have become the industry’s most solid names.
Cryptocurrency/altcoin payments best use case
Remittances and payments are probably the most important use case for crypto. Accepting payments from anyone or sending money quickly and cost-effectively without anyone’s interference is one of the reasons crypto exists.
COTI’s COTIPay system allows anyone to accept many different forms of payment. COTI even offers a white-label payment system where a company can use all or various parts of whatever suits their needs.
stablecoin industry
The new stablecoin DJED, a joint product of the COTI and Cardano team, comes with innovations in a few key areas besides offering price stability. As payments are the cornerstone of everything COTI does, their white-label solution will also include stablecoins. This feature means you can create your own stablecoin using COTI’s software and infrastructure. So, if your favorite project doesn’t have a stablecoin, you can create one. In other words, if you think that a currently obsolete cryptocurrency like Bitcoin or Litecoin could be a great collateral for a stablecoin, now you have a chance to produce it too.
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