Cardano Djed Developer Announces Stablecoin Launch Date

Cardano (ADA) to launch Djed in the coming week.
Bitrue to add DJED and SHEN to its exchange platform.
Djed to develope snapshot mechanism and user interface for Djed.

According to a recent source of information provided by the COTI network, the launch of Djed, Cardano’s overcollateralized stablecoin, is drawing near. On Twitter, COTI made the announcement that the much-anticipated Djed stablecoin will be made available in the coming week.

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Shahaf Bar-Geffen, the Chief Executive Officer of the COTI platform, shared this post by means of a retweet. In the tweet, he claimed that users of COTI should be prepared for Djed and that they might expect fantastic and exciting news in the days ahead. He also mentioned that people should be prepared for Djed.

The Djed cryptocurrency was designed to function as an overcollateralized stablecoin inside the Cardano ecosystem. COTI has worked closely with the Cardano Input Output (IOG) group to build Djed ever since the project’s conception in the year 2021. Forty separate collaborations have been formed in order to ensure that Djed will be used in an appropriate manner.

Interestingly, Bitrue, a platform for trading cryptocurrencies, has now announced, through its Twitter account, that it would be adding support for DJED and SHEN to its exchange platform.

Additionally, the Djed team disclosed that they were working on the development of new technologies that might be used inside the Djed ecosystem. One of the technologies that is currently being developed is a snapshot mechanism and user interface for Djed. This will allow holders of $SHEN to keep track of the supplemental advantages as they become available. xyz.

According to the data provided by CoinMarketCap, the current price of Cardano (ADA) is $0.3599, representing a drop of 4.56% in the last 24 hours. Meanwhile, the trading volume for ADA has increased by 5.31%, reaching $400,293,853.

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Munene Kelvin

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.