Cardano-Based Stablecoin Djed Officially Launched

The algorithmic stablecoin project Djed (DJED), jointly run by Coti (COTI) and Input Output (IOG), developers of the Cardano (ADA) network, was launched today.

Made by the Coti team on January 31st on their official social media account. in sharingend security tests completed Cardano-based stablecoin DJED officially released announced.

After more than 1 year of development released to the market and the native cryptocurrency of the Cardano network ISLAND stablecoin backed by reserve Shen as currency (SHEN) will be used. Also for SHEN holders extra rewards It was also among the information that it will be distributed.

On the other hand, DJED ISLAND with 400% to 800% with a collateral ratio between overcollateralized stablecoin stated to be operating in the state. In this aspect to Dai (DAI) likened DJED, of DAI on the contrary a printing and to the combustion mechanism has.

After its launch, the Cardano ecosystem With over 40 decentralized finance (DeFi) protocols DJED, decentralized cryptocurrency exchanges that are expected to be integrated (DEX) MinSwap, Wingriders and MuesliSwap supported by.

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