• Rick McCracken, owner of the ADA staking pool DIGI, has predicted a close launch date for Djed mainnet.
• Djed is Cardano’s first ADA-backed stablecoin powered by COTI Network, and will have 400-800% collateral rate to protect against price fluctuations.
• Djed’s testnet version was launched in December 2022 and has recently bagged a new partnership with Yepple Incorporated.
Rick McCracken, the owner of the ADA staking pool, DIGI, and a Cardano supporter, recently took to Twitter with his findings and prediction of a close launch date for Djed mainnet. This news comes as a welcome to the Cardano community, who have been eagerly awaiting the launch of Djed.
Djed is Cardano’s first ADA-backed stablecoin, powered by COTI Network. It is an over-centralized stablecoin with a collateral rate between 400-800%, as described on adapulse.io. To further protect against price fluctuations, Djed will also have another token – SHEN – which will act as the stablecoin’s reserve currency, maintaining its price stability.
The stablecoin’s testnet version was launched in December 2022, and more recently, on January 5, Djed announced a new partnership with Yepple Incorporated. This partnership aims to ensure optimal usage of Djed in the Cardano ecosystem, as well as promote the integration of payments for NFT transactions using Djed.
The Cardano community is eagerly awaiting the launch of Djed, and with Rick McCracken’s recent prediction, it appears the launch of this innovative stablecoin is drawing ever closer. With its ADA backing, as well as the SHEN reserve currency, Djed looks set to be a reliable and secure payment method when it is finally launched.