TechFlow News, Cardano developers have announced that its first decentralized stablecoin, Djed, will launch on the mainnet in January. Developed by Coti in collaboration with Cardano’s lead developer Input Output, Djed has been in development for over a year and is a decentralized stablecoin soft-pegged to the U.S. dollar. At launch, Djed will be integrated into 40 applications within the Cardano ecosystem.
Upon its release, Cardano users will be able to use Cardano’s native token ADA as collateral to mint the stablecoin. The stablecoin is designed to be over-collateralized, requiring more than 400% collateral value to mint each Djed.Original article link
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