Cardano to Launch its Algorithmic Stablecoin Named ‘Djed’ Next Year

Cardano has teamed up with COTI to launch this ‘over collateralised’ stablecoin called ‘Djed’. Despite being pegged against the US dollar, this stablecoin will be decentralised and use the ADA and SHEN cryptocurrencies as excess collateral. The Djed stablecoin will also have an on-chain proof of reserves.

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