Djed stablecoin might soon be deployed on mainnet
In a blog post, the COTI team shared that Djed, Cardano’s algorithmic stablecoin, developed in conjunction with the COTI network, saw 35 new partnerships ahead of its mainnet launch.
The launch of the Vasil hard fork is getting closer, which implies that Djed stablecoin might soon be deployed on the mainnet. The completion of the Vasil hard fork and the end of the final audit, as previously reported by U.Today, may signal the beginning of the deployment of Djed on the mainnet, as stated by the Djed team.
The Vasil mainnet hard fork is expected to take place during the last week of July. According to the Djed team, the Vasil hard fork will provide the scalability needed to run Djed on the mainnet securely.
Growing partnerships
According to the COTI network, Cardano’s Djed stablecoin is also intended to eventually serve as the primary currency used to pay for all of Cardano’s network transaction fees.
On July 19, another collaboration between Djed and Astarter, a DeFi infrastructure hub on Cardano, was announced. Astarter will use Djed to add Cardano-native stable-market pairs for trading highly liquid assets on the Astarter decentralized exchange (ADEX).
The new cooperation with Celestial City, a MusicFi platform that allows artists to conduct Initial Song Offerings, was launched at the end of last month. Users of Celestial City will be able to use ADA Pay to make payments on the platform. They will also be given the option of paying with Cardano’s native cryptocurrency, ADA, through the agreement.
The team added that they are looking at ways to include Djed stablecoin in the Celestial City platform so that users can also use it to pay.
In the same month, Trading Tent, a platform where users can trade any type of Cardano Native Assets within two wallets, also formed a partnership with Djed. This partnership, along with several others, hopes to ensure the use of Djed while also expanding use cases for the Cardano stablecoin on other platforms.
