Cardano On Track With Djed Launch

The Djed stablecoin, backed by growing collateral value which is developed by Input Output Global (IOG) and issued by Coti, a Layer-1 scalable corporate network, is set to go operational on the mainnet in January 2023. However, no precise date has been set. The official Djed Twitter account posted on January 14th that the stablecoin will debut in January.

Because of the expected increase in Cardano's TVL given the announcement of the Coti 2023 roadmap, the price of ADA may potentially rise. The introduction of the Djed stablecoin will mark a significant milestone in the overall growth of the Cardano ecosystem. It is expected to result in an increase in liquidity as well as a rise in ADA pricing.

On December 5th of 2022, the much-anticipated stablecoin of the Cardano ecosystem was successfully resurrected on the testnet. Vasil compatibility and new user capabilities are also included. Cardano's native token, ADA, and a reserve currency, SHEN, back each Djed stablecoin.

With a circulating quantity of 681,853 tokens, the stablecoin is presently worth 2.93 ADA (roughly 1.02 USD). COTI said on January 9th of the current year that the introduction of $Djed will be ground-breaking for the stablecoins industry.

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