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- Cardano price fell by more than 19% in the last one month.
- Cardano (ADA) Staking Now Supported by Trust Wallet
Cardano is a decentralized Proof-of-Stake(PoS) blockchain. As per media reports, Cardano is preparing a roadmap to launch its Algorithmic stablecoins in January 2023.
Cardano named it stablecoin ‘Djed’ in Egyptian symbol means ‘Stability’ and is a symbolic backbone of the God Osiris.
Shahaf Bar-Geffen, Chief Executive Officer of COTI, talked with Peter Bui, host of Learn Cardano Podcast and noted that Cardano would launch a stablecoin in January 2023.
While talking in the podcast, Shahaf said “We kind of like lay the groundwork for Djed by signing over 40 partnerships with everything from all major DEXs [decentralized exchanges] to trading protocols, NFT [non-fungible token] marketplaces, launch pads, you name it.”
“Now we’re going to execute all of these partnerships. So we’re going to start with selected DEXs. I think there’s going to be like three of them that we’re launching with. And they’ll be part of the launch process. They’ll give users substantial farming rewards for building liquidity. And we’re going to start there and then gradually roll out to all of these platforms.”
Shahaf further said that Djed Pay will also be launched after the successful launch of a stablecoin in 2023.
“Djed is essential for DeFi in Cardano, but I think there’s more actually: Payments. And we’re going to release Djed Pay… and we’re going to roll that out to get extra demand for the usage of Djed.”
Shahaf guaranteed that Djed would continue to advance its technology and capabilities on Cardano.
“Then there is the technical roadmap. The version that we launch in January is already compatible with Vasil. But it still doesn’t use Plutus V2 and all the benefits that come with Vasil. This is version 1.2. And that will be rolled out as well early next year.”
“The next version will actually use something that is called an extended Djed that is a bit more dynamic and has extra benefits to it and in between these times we are going to solve how staking is done through the smart contract and get all that benefit.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
