Djed, the Cardano (ADA) scene’s main decentralised stablecoin, is currently live on the public testnet. COTI Network developers shared some details about the next level of the company’s technological development.
According to a joint official statement issued by COTI Network and Cardano (ADA) developers Input Output Global (IOG), COTI’s pioneering stablecoin product Djed is now available on the public testnet.
Djed is a decentralised algorithmic stablecoin that is integrated into the on-chain ecosystem with Shen, the primary reserve token. Shen has agreed to guarantee the stablecoin’s collateralization rate and USD peg.
IOG and COTI Network will work together on the upcoming Djed releases, which will address UX/UI issues, interface design, configuration management, and Nami wallet integration.
Djed stablecoins may be tested with mainnet configurations on the public testnet, allowing all features to be stress tested prior to mainnet release.
The team also highlights the importance of the public testnet release for the wider adoption and exposure of Djed and other COTI Network products. This will also allow everyone to understand the fundamentals of their protocol without putting themselves at risk. SundaeSwap, Minswap, and WingRiders were among the first Cardano (ADA) DeFi protocols to experiment with test liquidity pools.
Djed will start the full-stack codebase audit required to ensure that the tokenomics of Djed-Shen equilibrium are immutable and balanced in the coming months.
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