Development of the stablecoin took longer due to security precautions
On top of that, the project has already conducted two"rigorous" audits."The one thing that we can't fail on is security…If people are not interested in the product…I can live with that. I can’t live with leaving security vulnerabilities…This is why it took a bit more time."
Investors' faith in algorithmic stablecoins was shaken by the collapse of TerraUSD back in May. Several similar projects also went underwater prior to Terra, which highlights a systemic risk. Following its release, Djed stablecoin will be integrated into a bunch of decentralized finance protocols. It is challenging to predict how successful Djed is going to be. Ardana, Cardano's leading stablecoin project, was shut down last month due to funding problems. Input Output CEO Charles Hoskinson said that it was
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