Cardano’s Djed Stablecoin Might Soon Launch; Here’s When

Cardano

Djed to deploy to mainnet once Vasil Hard Fork is finished

According recent updates provided by his team, Djed, Cardano’s algorithmic stablecoin, developed in collaboration with the COTI network, may launch shortly after the launch of the Vasil Hard Fork mainnet.

In a recent COTI blog post, the Djed team stated, “We are also waiting for Cardano’s Vasil hard fork to take place. The Vasil hard fork will allow for scalability that is required to safely run Djed on Mainnet.”

As previously reported by U.Today, the Vasil testnet hard fork proposal has been submitted. These hard fork changes could hit the testnet as early as July 3. Exchanges and SPOs (stake pool operators) need at least four weeks of testing, which puts the tentative date for the Vasil mainnet hard fork in the last week of July. .

The Vasil Hard Fork’s completion and the conclusion of the final audit could presage the start of the deployment of Djed on the mainnet, according to the Djed team.

Djed, the over-collateralized stablecoin from Cardano, recently launched on testnet. Recent reports from the team indicate that over 514,559 tDJED and over 6,688,918 spare tSHEN coins have been minted so far, giving a spare rate of 653%.

To ensure safety, the on-chain code underwent a level 2 audit certification after the testnet launch. At the moment, corrective steps under the audit notes have been applied, and a new version of the code is being submitted for a final audit.

Cardano DEX Minswap allows users to reward ADA

Cardano-based Minswap DEX has received an update to include ADA rewards for liquidity providers. Starting July 1, liquidity providers will be able to harvest Cardano’s ADA with their MIN and Double Farm rewards.

The Minswap team stated that this was done at the request of the community as the ability of liquidity providers to collect their ADA staking rewards had been one of the most requested features for a while.

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