Djed - the first algorithmic stablecoin on Cardano is now on Testnet
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Pronounced "Jed" this is the first native algorithmic stable coin for Cardano.
Djed is a decentralized, algorithmic stablecoin that is built on Cardano. An algorithmic stablecoin maintains stability through a combination of collateral and a reserve token. In this case, Shen is Djed’s reserve coin and has the role of ensuring price stability — specifically it guarantees the collateralization rate and the peg of the stablecoin.
Furthermore Coti holders will also benefit as a portion of the transaction fees go into Coti funds.
Watch the video in the link to find out more.
https://medium.com/cotinetwork/djed-public-testnet-is-live-b0b0b13552e0
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