Cardano-Based Djed to Launch Next Week, Will ADA Jump?

The much-anticipated introduction of the Djed stablecoin is planned for next week. This development will allegedly stimulate growth and the creation of new applications in the Cardano ecosystem’s decentralised finance (DeFi) industry, which is undergoing fast development.

According to cryptocurrency pundits, this entrance will also help Cardano (ADA) compete in the altcoin space. COTI, a platform optimised for creating price-stable coins and the soon-to-be official issuer of Djed, said on Tuesday;

We are pleased to share another update about Djed’s progress and to inform you that the launch is scheduled for next week.

The developers also said they were working on a snapshot function and user interface (UI), which would eventually be included in Djed. The interface will make it easier to stake Cardano (ADA) and produce additional incentives for holders of $SHEN, as well as provide holders of $SHEN with the ability to monitor other prizes.

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The post Cardano-Based Djed to Launch Next Week, Will ADA Jump? appeared first on Coin Edition.