Learn about importance of Djed and why it may not be able to make $ADA skyrocket cardano
The launch of nonsynthetic stablecoins on the Cardano network has been highly anticipated by ADA holders. According to COTI, the company collaborating in the development of the stablecoin on the ADA blockchain, Djed stablecoin is expected to launch in the coming week.
Djed will utilize a reserve of base currencies and a process of mining and burning other stable assets and reserve currencies to manage value fluctuations. With the stablecoin smart contract, the promise is that you can exchange ADA for Djed, facilitated by the presence of a third token called SHEN, which acts as a mechanism to maintain the stability of the asset's price.
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