Cardano's decentralized stablecoin Djed goes live on mainnet
Djed, a decentralized stablecoin designed to track the U.S. dollar, launched on the Cardano blockchain after being in development for over a year. Djed was developed by blockchain firm Coti in collaboration with Cardano's core developer Input Output.
Djed aims to be used on DeFi protocols in the Cardano ecosystem as a stable alternative to volatile cryptocurrencies. Each stablecoin will be over-collateralized by 400-800% with Cardano’s native asset ADA — while using SHEN as a reserve coin. This over-collateralization makes it similar to the dai stablecoin in the Ethereum ecosystem, but it has a minting and burning mechanism like other algorithmic stablecoins.
Source
https://t.me/Crypto_Bitcoin_Blockchain
