New Cardano (ADA) Stablecoin Launch Revealed Heres When Djed Comes Out

The developer of Cardano’s (ADA) new stablecoin has revealed when the dollar-pegged crypto is scheduled to launch.

new blog postaccording to payments firm COTI, Cardano’s new stablecoin, Djed, is set to launch within the next week.

According to the developers, the only thing preventing Djed from launching is the chain index synchronization process, which is about half done.

“We have started the chain index sync process. This process may take 14 days. We started syncing a week ago, so it should be complete and ready to start next week. At this time, this is the launch It’s the only technical bottleneck that’s holding us back.

However, no specific release date has been revealed.

Last month, COTI announced that Djed had moved to a multi-chain network supporting private payment networks. They also announced that Djed’s deposit fees will be reduced by 50% when switching from a fixed withdrawal price to a dynamic system.

COTI said the change will help the widespread adoption of accepting cryptocurrencies as payment for goods and services.

This launch represents a big step forward not only for the crypto industry, but also for COTI. [upgrade] Facilitate the growth of widespread adoption of crypto payments to businesses that have not yet adopted crypto payment solutions.

Djed’s approximate launch date revealed as Cardano developer Input Output Hong Kong (IOHK) Admit Numerous new projects on blockchain such as NFT (non-fungible token) marketplace, Metaverse space, crypto wallet, decentralized exchange (DEX) platform.

Cardano is trading at $0.358 at the time of writing, down 5.35% over the past 24 hours.

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