Data show that according to Cardano's super mortgage stable currency DJed (DJed) attracted more than 27 million Cardano (ADA) tokens as support less than a day after its launch.
As of this writing, DJed's savings rate is close to 600%, which means that every DJed has six times the ADA value. At current prices, the value of the locked ADA for the sale of DJed is more than $10 million.
The anticipated DJed stablecoin is jointly developed by Cardano coding manager IOG and layer 1 blockchain technology Coti.
DJed will be supported by other dynamic passwords and must publish 400% to 800% of the value of the collateral before it can be sold to users.
This excessive mortgage system will keep Dajiang's value under market pressure for a long time and prevent the algorithm associated with Terra's comprehensive King Luna token from stabilizing the loan currency TerraU.S. The value of Terra tokens fell by more than 99 per cent in May.
When holders of Cardano's ADA digital currency bet their coins on forging coins that are relatively stable in DJed, Shen, a reserve token dedicated to supporting DJed's relative stability, will receive an additional reward, which may give liquidity to this up-and-coming ecosystem.
This may increase consumer demand for Shen, causing prices to soar in the coming weeks, adding to its ease of use as DJed is integrated with more Cardano-based applications.
As of Wednesday morning, DJed had a supply of 1.7 million tokens in circulation, while Shen Nanpeng had a supply of 20 million tokens, each worth 38 cents.
DJed tokens-and the annualized earnings rewards offered by its decentralized trading center (DEX)-are expected to attract customers' liquidity interest and hobbies because of its excessive mortgage system, which could benefit Cardano's $91 million decentralized financial sector (Defi) sales market.
Some new Cardano Defi projects, such as Fluid, have merged DJed stablecoin into loan liquidity. Last week, MuesliSwp, a Cardano Defi trading centre, told WJB that its aim was to provide 10 to 25 per cent annualised returns to DJed customers.
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Tue, 18 Apr 2023