Enough of the rumors! Charles Hoskinson breaks the silence and sheds light on the future of the stablecoin Djed. Launched a few months ago, the project seems to encounter many difficulties and panics the community. But if for some this trend marks the end, the founder of Cardano is calm: Djed will be one of the most successful in the crypto market.
Djed from Cardano is not stopping! Stop fake news
Like all crypto entrepreneurs, Charles Hoskinson supports his projects and cannot stand rumors. The man who recently rejected the Cardano Foundation wants to reassure the community about the evolution of the Djed stablecoin.
Launched in February this year, the stablecoin received positive reactions from the community. Developed by the company Input Output Global (IOG) and powered by COTI, the project has attracted many investors with its over-guaranteed nature.
Indeed, Djed uses ADA, the native token of Cardano as a reserve. Thus, the fact that the circulating supply of the stablecoin was supported by four times the number of tokens in circulation reassured investors. Because in addition to security, the project also offered an additional layer of stability.
However, despite a promising start, Djed encountered difficulties, decreasing his reserves by 356%. But despite the temporary halt to minting due to low activity, Hoskinson has confirmed that this is not the end. The stablecoin is about to undergo a major transformation that will change the future.
Strategic updates for better development
Trust is the golden rule in the crypto ecosystem. If bitcoin continues to dominate the market, it is undoubtedly thanks to this particular feeling. And it is in this sense that Charles Hoskinson’s declaration fits, which could also strengthen the adoption of Djed.
But to get there, certain changes are necessary. Indeed, the development company behind Cardano has named W. Sean Ford CEO, while David Markley will play the role of COO of a new company that will focus on the stablecoin sector.
This move, combined with support from Cardano, is expected to strengthen the project and make Djed a more reliable and secure financial instrument. Hoskinson, for his part, does not hide his enthusiasm and for him, the blockchain needs stablecoins. The latter could play a big role in achieving its mission and protecting its values.
If one thing is certain, it is that Charles Hoskinson is a visionary who has made Cardano one of the best blockchains on the market in 6 years. Moreover, its native crypto ADA is evolving and the attention the blockchain is attracting suggests a promising future. There is no doubt that the Djed stablecoin will follow this momentum and become a key player in the ecosystem.
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