COTI Plans to Launch its Own Stablecoin on Cardano’s Blockchain

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COTI Network, a platform from the Cardano ecosystem, has announced it plans to launch next month its algorithmic stablecoin Djed, a stablecoin that has been designed as a super-collateralized asset backed by reserves at a ratio of 1:8 in ADA.

The project team has announced that crypto exchange Bitrue as well as the project partner, DEX Wingriders, will support the coin.

Minswap, one of the leading decentralized exchanges based on the Cardano network, has announced the launch of two pools of coins paired against ADA, the network’s native token.

Recall that the Cardano founder Charles Hoskinson announced in September 2021 that COTI Network would become the official issuer of Djed.