‘New Era’ As Cardano (ADA) Based Stablecoin Djed Goes Live on Mainnet

Ethereum (ETH) rival Cardano (ADA) has launched its first overcollateralized stablecoin, Jed (DJED), on its mainnet.

DJED aims to be pegged to the US dollar and is backed by Cardano’s native token ADA.

Last month, Djed issuer COTI (COTI) announced that Djed had moved to a multi-chain network supporting private payment networks.

It was also announced that Djed’s deposit fee will be reduced by 50% due to the switch 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 for businesses that have not yet adopted crypto payment solutions. “

Now, after a successful security audit, Djed has officially launched on Cardano.new Presentationthe COTI team says the launch is a major milestone across decentralized finance (DeFi).

“The long-awaited public mainnet launch of Djed ushers in a new era of stablecoins. The launch of Djed is a significant milestone for COTI, the Cardano ecosystem, and the DeFi ecosystem as a whole. As an open source protocol, Djed is community driven as it gives users the opportunity to maintain, create and write DJED and SHEN.”

DJED is available on Bitrue, Winswap, Wingriders, and Muesliswap, with more listings coming.

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