Djed is a highly anticipated Cardano (ADA) stablecoin from the community. According to Orion Depp, a veteran investor, its launch is coming soon and getting a lot of positive feedback. Its launch could be a game-changer in its segment following the collapses of the stablecoins UST, USDD and FEI. On his Twitter account, Orion Depp shared some details about Djed. This did not fail to enthuse the members of the community.
The launch of Djed (DJED) coming soon
Yesterday, Orion Depp shared on Twitter his thoughts on how stablecoin DJED is approaching its launch. The seasoned investor highlighted the enthusiasm of members of the Cardano (ADA) community. He also shared a comprehensive analysis of the main classes of stablecoins with a view to bringing out the specifics of Djed. Rick McCracken, a Cardano enthusiast, has commented on the stablecoin’s launch on the mainnet, calling it “prominent”.
Possessing an impressive collateralization ratio, Djed seems exceptional in every way. Indeed, it has a ratio of 8:1. This implies that the collateral is eight times higher than the circulating supply of tokens. The stablecoin also has a permanent repurchase feature and exogenous collateralization. Depp announced that Djed from Cardano and COTI Network is ready to launch in the coming weeks.
The Cardano community is enthusiastic
Orion Depp said the launch of Djed received a lot of positive feedback and feedback. Depp is indeed, well known to the crypto community as a seasoned investor and advisor to crypto start-ups. Currently, he is the Managing Partner of Master Ventures Investment Management.
The team estimates that the launch of Djed’s mainnet can take place as early as this month. Indeed, the open beta testing campaign has been running since mid-December 2022. Described as “remarkable”, Djed could be a game-changer after the collapses of UST, USDD and FEI. In addition, Cardano (ADA) will also integrate its first centralized stablecoins: USDA and iUSD. USDA is developed in collaboration with Anzens, a long-time partner of EMURGO.
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