• Rick McCracken, owner of the ADA staking pool DIGI, predicted a close launch date for Djed mainnet.
• Djed is Cardano’s first ADA-backed stablecoin powered by COTI Network.
• Djed’s testnet version was initially launched in December 2022.
The Cardano ecosystem is buzzing with anticipation as the launch of Djed mainnet draws closer. Djed is Cardano’s first ADA-backed stablecoin, powered by COTI Network, and is expected to revolutionize the way users pay for goods and services. Rick McCracken, the owner of the ADA staking pool DIGI and a Cardano supporter, predicted a close launch date for Djed after a successful test of the stablecoin.
The news of the impending launch follows an announcement from Djed’s official Twitter handle on January 14th, confirming that the launch of the stablecoin remains on track this month. Djed also recently bagged a new partnership with Yepple Incorporated, as announced on January 5th, in order to ensure optimal usage of the stablecoin in the Cardano ecosystem and also promote the integration of the payment for NFT transactions using Djed.
Djed is an over-centralized stablecoin with a collateral rate between 400-800%. According to the CEO of the COTI Network, Shahaf Bar-Geffen, Djed will also have another token, SHEN, to protect it against exposure to ADA’s volatility and to maintain its price stability.
The testnet version of Djed was initially launched in December 2022. Djed’s official website also provides information about the stablecoin’s technical specifications and its tokenomics. The website also provides a comprehensive walkthrough of the Djed platform and its features.
With the launch of Djed, Cardano users will be able to transact and pay for goods and services with a stablecoin that is backed by ADA. This will open up new possibilities for the Cardano ecosystem and its users. The launch of Djed is expected to be a major milestone for the Cardano project and will bring a new level of stability and usability to the network. The team behind Djed is eager to bring the stablecoin to market and make it available to everyone.