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Cardano’s stablecoin, Djed, will launch on two exchanges

Winnie Kimeu

Writer, News

Jan 27, 2023 at 03:49

As Djed prepares to make its debut on the Cardano network in the coming days, both MinSwap and MuesliSwap exchanges will be offering it as a liquid asset within their pools.

MinSwap and MuesliSwap locked in and loaded

The highly anticipated stablecoin Djed will join forces with ADA and Shen on MinSwap, the main decentralized exchange on Cardano in a powerful liquidity pool.

With $30 million in liquid assets already locked in on the exchange, this presents a golden opportunity for Djed to make waves within the Cardano ecosystem.

On the other hand, MuesliSwap, another decentralized exchange on Cardano, has also declared its support for the highly-anticipated stablecoin. With $6.6 million locked in, this crypto exchange is poised to play a key role in Djed’s journey on the Cardano ecosystem.

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Let’s grow together!

Djed has emerged from the minds of Coti – a crypto firm – in partnership with Cardano’s lead developer, Input Output.

A labor of love spanning over a year has culminated in the birth of Djed.
It is set to make history as the first crypto-backed stablecoin in the Cardano ecosystem.

How can I make money from this?

Djed will allow users to turn their ADA, the network’s very own cryptocurrency, into collateral and use it to mint new Djed.

Strengthened by a surplus of collateral in the form of cryptocurrency, Djed will stand tall as an overcollateralized stablecoin. Furthermore, the design is reminiscent of the most successful decentralized stablecoin in the Ethereum ecosystem, Dai.

To mint a new Djed, a collateral value of more than 400% will be required.

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