Djed, da kine stablecoin wea track da U.S. dollar, wen go live on Cardano blockchain afta one yeah ovah development. Coti, da blockchain company, wen make Djed wit help from Input Output, da Cardano core developer. Djed get purpose fo’ use on DeFi protocols inside da Cardano system as stable option instead of cryptocurrencies wea get big ups and downs.
Djed goes be secured wit over collateral usin Cardano’s own ADA asset, an’ go use SHEN as reserve coin. Dis kinda over-collateralization similar to dai stablecoin in Ethereum, but Djed got mint an’ burn mechanism like other algorithmic stablecoins.
Djed sposed get intah 40 apps inside da Cardano ecosystem. Alrready get support from da decentralized exchanges MinSwap, Wingriders an MuesliSwap. November time, da Coti team tol da Block dey planny launch DjedPay, service dat go let merchants an odda crypto players accept payments in da stablecoin.