Cardano’s Algorithmic Stablecoin Set To Launch In Jan 2023
Cardano-based first-ever algorithmic stablecoin DJED would be rolled out in the month of January next year. This was revealed by Shahaf Bar-Geffen, CTO of the COTI network in a recent podcast hosted by a crypto-focused channel big pey.
Djed, an ADA-powered algorithmic stablecoin that operates as an autonomous bank, was launched on testnet on May 4. Developed by Cardano’s IOG and issued by COTI. It employs SHEN as a reserve coin and is backed by ADA. As reported by TronWeekly, the stablecoin’s testnet version was successfully launched a few months ago.6,688,918 SHEN reserve coins were minted, giving a reserve ratio of 653%.
Source
https://t.me/Cronos_Cardano_Ripple
