The Djed stablecoin is scheduled for roll out after the chain index syncing compeletes.
Stablecoins have been one of the most controversial areas of the cryptocurrency industry. But this has not deterred industry leaders to bring about new pegged tokens built on a secure foundation.
this week. Developed jointly by the layer 1 blockchain network, COTI, along with core Input Output Global devs, the stablecoin is expected to benefit the overall Cardano $77.2 million DeFi market.The ADA-backed stablecoin would deploy on the mainnet following the completion of chain index syncing.
Djed has been touted as the “first stablecoin protocol where stability claims are precisely and mathematically stated and proven.” Algorithmic stablecoins are typically partially undercollaterized. Djed, on the other hand, isThe official site also revealed that the contract has enough money to buy back all the Djed stablecoins in circulation for $1 worth of the backing asset, thus maintaining the peg.
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