• Rick McCracken, owner of the ADA staking pool DIGI, has predicted a close launch date for Djed’s mainnet.
• Djed is Cardano’s first ADA-backed stablecoin powered by COTI Network.
• Djed’s testnet version was launched in December 2022 and the stablecoin has secured a new partnership with Yepple Incorporated.
Cardano’s first ADA-backed stablecoin, Djed, is on track to launch this month. This news comes from an announcement made by Djed’s official Twitter handle on January 14. Djed is powered by the COTI Network and has secured a new partnership with Yepple Incorporated, which aims to ensure optimal usage of Djed in the Cardano ecosystem. This new partnership will also promote the integration of the payment for NFT transactions using Djed.
Rick McCracken, the owner of the ADA staking pool DIGI and a Cardano supporter, has made a prediction of the close launch date for Djed’s mainnet. This prediction was made based on a discovery from a new stablecoin test of Cardano. McCracken quickly shared his findings and prediction via his Twitter handle.
The stablecoin’s testnet version was initially launched in December 2022. According to the CEO of the COTI Network, Shahaf Bar-Geffen, Djed will be collateralized against ADA, however, Djed will also have another token to protect it against exposure to ADA’s volatility. This token is known as SHEN and it will act as the stablecoin’s reserve currency. This reserve currency will help maintain the price stability of Djed and will ensure a 400-800% collateral guarantee against price fluctuations.
Djed’s launch is a major development for the Cardano ecosystem, as it will provide easy and secure usage of the ADA-backed stablecoin. This launch and partnership with Yepple Incorporated will also ensure the integration of the payment for NFT transactions using Djed.