After its successful security audit, the algorithmic stablecoin, Djed, from DeFi service provider COTI, deployed on the Cardano mainnet.
Since the smoothness of the TerraU.S. (UST) algorithm in May 2022, many users in the login password field have become bored with this particular asset class. The algorithm stationary code market is 10 times lower than the historical time peak before the collapse of Terra.
However, this did not stop Cardano Internet real estate developers from pushing the ecosystem launched on January 31 to be stable. A new algorithm stationary code DJed (DJed) is launched on the Cardano master online, linked to the US dollar, and applied by Cardano's local digital currency ADA. It uses Shen (Shen) token as a reserve coin.
According to the announcement, the new dynamic password has recently successfully completed the network security audit, and has been developed and designed for more than a year. DJed is a commodity of DAG Layer 1 Coti on the Cardano blockchain, as a new way to diversify payment opportunities for financial (Defi) transactions.
CotiCEO Sf Erik-Geffen told Cointelegraph that recent market conditions have confirmed that we should be a "haven of the mind" from change.
We need a relatively stable reserve, and we should have a scattered, reserve transmission chain to prove it.
Before the launch of the new Cardano smooth login password, the idea of introducing another algorithm smooth login password caused vibration in the online login password community.
It is also one of the latest in a series of recent upgrades to the Cardano Internet, including founder Cliff Hoskinson announced on January 12th that the ecosystem will be expanded with a customized backbone.
On January 23rd, due to an exception, 50% of the Cardano connection points were interrupted and forced to restart, causing a network outage. This pitch launches a new algorithm stablecoin only a week away.
In early 2023, Bloomberg News reported that risk assessment firm Moody's was developing a stable currency score and conducting a preliminary analysis of up to 20 digital currencies.