A Look at Cardano's Overcollaterized Stablecoin Djed

Stablecoins have been one of the most controversial areas of the cryptocurrency industry. But this has not deterred industry leaders to bring about new pegged tokens built on a secure foundation.

this week. Developed jointly by the layer 1 blockchain network, COTI, along with core Input Output Global devs, the stablecoin is expected to benefit the overall Cardano $77.2 million DeFi market.The ADA-backed stablecoin would deploy on the mainnet following the completion of chain index syncing.

Djed has been touted as the “first stablecoin protocol where stability claims are precisely and mathematically stated and proven.” Algorithmic stablecoins are typically partially undercollaterized. Djed, on the other hand, isThe official site also revealed that the contract has enough money to buy back all the Djed stablecoins in circulation for $1 worth of the backing asset, thus maintaining the peg.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cardano (ADA) About to Have Big WeekIt is going to be a busy week for the Cardano ecosystem, with the Djed stablecoin and the Coti protocol both making their debut
Source: Utoday_en - 🏆 295. / 63 Read more »

Cardano Millionaires Took Advantage of Latest ADA Price Rise, Here's HowHere's how Cardano millionaires took advantage of latest $ADA price rise cardanoada cardanocommunity cardano stablecoin djed $djed $shen Anybody has info about that money making bot;
Source: Utoday_en - 🏆 295. / 63 Read more »

Cardano (ADA) Forms Crucial Support, Targets 'Higher Highs' from Here: Analyst$ADA Cardano may spike from the current $0.37 level, a crypto analyst believes. ali_charts intotheblock
Source: Utoday_en - 🏆 295. / 63 Read more »

Cardano Kicks Off 'Big Week' as Testnet for Wrapped BTC Goes Live: DetailsTestnet for wrapped $BTC goes live WBTC DeFi CardanoADA CardanoCommunity
Source: Utoday_en - 🏆 295. / 63 Read more »

Pokemon Shares First Look at Ash's Reunion With LaprasPokemon Journeys gave Ash the opportunity to see a number of allies from his past, which included [...] Animexcited.
Source: ComicBook - 🏆 65. / 68 Read more »

NFL to look at ‘mechanics’ of tackle in wake of Tony Pollard injuryTwo playoff injuries might encourage a tackle rule change this NFL offseason. I’m lm Just break out the flags already MHURogerGoodell you bum! Cut Zeke. Bring back the backup QB frequently, and execute the kicker.
Source: nypost - 🏆 91. / 67 Read more »