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Uncategorized

Cardano (ADA) About To Have Big Week

January 28, 2023 - Around 2 mins mins to read

Key Points:

  • One of the most well-known proof-of-stake projects, Cardano, is about to enter a crucial week.
  • Djed (DJED) stablecoin is anticipated to be a godsend for Cardano’s struggling DeFi ecosystem.
  • Additional tokens will support the stablecoin. If the reserve ratio falls below the 400% threshold, new DJED tokens cannot be minted. card With the assistance of a reserve coin known as Shen, the Djed stablecoin will be able to retain its dollar peg (SHEN).
One of the most well-known proof-of-stake projects, Cardano, is about to enter a crucial week.
Cardano ADA About To Have Big Week

Numerous decentralized financial apps, including the Cardano-based decentralized exchanges (DEX) MinSwap and MuesliSwap, will add support for the highly anticipated Djed stablecoin.

The lead Cardano developer Input Output and the decentralized payment platform COTI are the minds behind the overcollateralized stablecoin. It was given the name of a historic due to the likelihood of significantly increased liquidity, the introduction of the Djed (DJED) stablecoin is anticipated to be a godsend for Cardano’s struggling DeFi ecosystem.

The widely discussed stablecoin’s algorithm is based on a collateral ratio that ranges from 400% to 800%. In plain English, additional tokens will support the stablecoin. If the reserve ratio falls below the 400% threshold, new DJED tokens cannot be minted. card With the assistance of a reserve coin known as Shen, the Djed stablecoin will be able to retain its dollar peg (SHEN).

Teccrypto

In addition, the mainnet launch of Liqwid Labs, an on-chain non-custodial interest rate protocol, is planned for the following week. For lenders and borrowers, it functions as a decentralized market. It is unknown how Cardano (ADA) will respond to the impending events. On significant spot markets, the coin is now trading at $0.39.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

ADA

Cardano

Decentralized Exchanges

Proof-of-Stake

proof-of-stake projects

Avatar of Annie

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Uncategorized

Cardano (ADA) About To Have Big Week

Key Points:

  • One of the most well-known proof-of-stake projects, Cardano, is about to enter a crucial week.
  • Djed (DJED) stablecoin is anticipated to be a godsend for Cardano’s struggling DeFi ecosystem.
  • Additional tokens will support the stablecoin. If the reserve ratio falls below the 400% threshold, new DJED tokens cannot be minted. card With the assistance of a reserve coin known as Shen, the Djed stablecoin will be able to retain its dollar peg (SHEN).
One of the most well-known proof-of-stake projects, Cardano, is about to enter a crucial week.
Cardano ADA About To Have Big Week

Numerous decentralized financial apps, including the Cardano-based decentralized exchanges (DEX) MinSwap and MuesliSwap, will add support for the highly anticipated Djed stablecoin.

The lead Cardano developer Input Output and the decentralized payment platform COTI are the minds behind the overcollateralized stablecoin. It was given the name of a historic due to the likelihood of significantly increased liquidity, the introduction of the Djed (DJED) stablecoin is anticipated to be a godsend for Cardano’s struggling DeFi ecosystem.

The widely discussed stablecoin’s algorithm is based on a collateral ratio that ranges from 400% to 800%. In plain English, additional tokens will support the stablecoin. If the reserve ratio falls below the 400% threshold, new DJED tokens cannot be minted. card With the assistance of a reserve coin known as Shen, the Djed stablecoin will be able to retain its dollar peg (SHEN).

Teccrypto

In addition, the mainnet launch of Liqwid Labs, an on-chain non-custodial interest rate protocol, is planned for the following week. For lenders and borrowers, it functions as a decentralized market. It is unknown how Cardano (ADA) will respond to the impending events. On significant spot markets, the coin is now trading at $0.39.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

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