Cardano-Based Decentralized Stablecoin Djed to Hit Mainnet in January

Cardano's developers announced at the Cardano Summit event in Lausanne, Switzerland that its first decentralized stablecoin Djed will go live on the mainnet in January.

It is reported that Djed has been developed by a firm called Coti in collaboration with Cardano lead developer Input Output. The stablecoin has been in development for more than a year. Once launched, Cardano users will be able to use Cardano's native token $ADA as collateral to mint the stablecoin. The stablecoin is designed to be overcollateralized. Each Djed will require more than 400% in collateral value to be minted.

In addition, Djed will be integrated into 40 apps in the Cardano ecosystem at its launch. The launch will also come with the introduction of DjedPay, a service that will let merchants and other crypto players accept Djed payments.

Source

Cardano

Stablecoins

DeFi

In This Article

Related News
Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030 Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030
Total stablecoin market cap surpasses $230 billion amid institutional interest and Trump policies Total stablecoin market cap surpasses $230 billion amid institutional interest and Trump policies
Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum
Total stablecoin market cap tops $200 billion as onchain lending yields surge Total stablecoin market cap tops $200 billion as onchain lending yields surge
Hacked Cardano Foundation X account posts fake token, false SEC lawsuit notice Hacked Cardano Foundation X account posts fake token, false SEC lawsuit notice
Latest News More More
1 Day Ago Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling
2 Days Ago Zora airdrop triggers confusion as token launches without announcement, requires users claim manually
3 Days Ago pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens
3 Days Ago Binance South Africa to require information on senders and recipients for local compliance
4 Days Ago USDC closes in on $61 billion as institutional demand outpaces USDT growth
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open