Djed – the first algorithmic stablecoin on Cardano is now on Testnet

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