Ethereum (ETH) rival Cardano (ADA) has seen its first overcollateralized stablecoin Djed (DJED) go dwell on the mainnet.
DJED goals to be pegged with the US Greenback and is backed by Cardano’s native token ADA.
Final month, Djed-issuer COTI (COTI) introduced that Djed had transitioned to a multi-chain community that now helps non-public cost networks.
It was additionally introduced that Djed’s deposit charges will lower by 50% because it switches from a set withdrawal worth to a dynamic system.
COTI mentioned the modifications would help with the widespread adoption of accepting crypto belongings as funds for items and companies.
“This launch signifies a large step for the crypto trade, in addition to COTI, because the [upgrade] will improve the expansion of the widespread adoption of crypto funds for enterprises which are but to undertake crypto cost options.”
Now, following a profitable safety audit, Djed has formally launched on Cardano. In a brand new announcement, the COTI workforce says the launch is a significant milestone for decentralized finance (DeFi) as an entire.
“The a lot anticipated public mainnet launch of Djed heralds a brand new period for stablecoins. Launching Djed is a major milestone for COTI, the Cardano ecosystem, and for the DeFi ecosystem as an entire. Being a decentralized open-source protocol, Djed is community-driven, because it brings a possibility for customers to carry, mint, and burn DJED and SHEN.”
DJED is on the market on Bitrue, Winswap, Wingriders, and Muesliswap, with extra upcoming listings anticipated.
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