First Stablecoin on Cardano ‘DJED’ to Launch in Jan 2023

First Stablecoin on Cardano ‘DJED’ to Launch in Jan 2023
  • The company has taken several important measures to enhance the off-chain code.
  • Bar-Geffen stressed the significance of Djed’s debut and the work done.

Cardano’s first algorithmic stablecoin DJED will be released on the network’s mainnet in January 2023. As stated by the stablecoin’s issuer, COTI.

Furthermore, this was announced on Monday at the Cardano Summit 2022 by COTI CEO Shahaf Bar-Geffen. And confirmed by the event’s verified Twitter account. This comes after it was previously reported that the delay in launching the mainnet was due to the postponing of the Vasil Hard Fork.

New Payment Platform and Gateway

Moreover, after a thorough examination of the over-collateralized algorithmic stablecoin. The launch is scheduled for January 2023, according to the release. With the help of the Cardano Foundation and COTI. Companies may now accept Djed as payment via a new payment platform and cryptocurrency payment gateway called Djed Pay.

The COTI team stated:

“As announced by @shahafbg on the main stage at the #CardanoSummit2022, we are excited to share that, $Djed, Cardano’s over-collateralized stablecoin will go live on Mainnet in January 2023!”

Furthermore, since COTI’s previous update to the community two months ago. The company has taken several important measures to enhance the off-chain code. In order to better handle Cardano node version 1.35.x on the private test environment.

Bar-Geffen stressed the significance of Djed’s debut and the work done to secure the stablecoin’s success. Noting the contributions of COTI and Input Output Global (IOG). According to the announcement, the stablecoin will be integrated with a select group of partners and decentralized exchanges (DEXs), out of a total of forty already created.

Moreover, the DEXs to which Djed will link would provide rewards to customers who utilize the stablecoin and increase its liquidity.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.