{"id":516573,"date":"2023-01-18T13:00:01","date_gmt":"2023-01-18T18:00:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=516573"},"modified":"2023-03-08T07:26:12","modified_gmt":"2023-03-08T07:26:12","slug":"launch-for-djed-cardano-stablecoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano\/launch-for-djed-cardano-stablecoin\/","title":{"rendered":"Rick McCracken Predicts Mainnet Launch For Djed, A Cardano Stablecoin"},"content":{"rendered":"

Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. Rick McCracken, the owner of the ADA staking pool, DIGI, and also a Cardano supporter, did not hesitate to make his findings and prediction known via his Twitter handle.<\/a><\/p>\n

Recall there was an announcement<\/a> earlier on Djed\u2019s official Twitter handle on January 14, affirming that the stablecoin\u2019s launch this month remains on track. Furthermore, as per COTI Network\u2019s announcement<\/a> on January 5, the soon-to-launch stablecoin bagged a new partnership with Yepple Incorporated.<\/p>\n

Related Reading: Optimism Sees Spike In USDC And USDT Transactions Eclipsing $1 Billion<\/a><\/div>\n

The partnership aims to ensure optimal usage of Djed in the Cardano ecosystem. It would also promote the integration of the payment for NFT transactions using Djed.<\/p>\n

Djed To Go Live Along With New Stablecoin Payment App, DjedPay<\/h2>\n

Djed is Cardano\u2019s first ADA-backed stablecoin powered by COTI Network. It is an over-centralized stablecoin with a collateral rate between 400-800%, according to the description on adapulse.io<\/a>.<\/p>\n

According to the CEO of the COTI Network, Shahaf Bar-Geffen, in addition to ADA backing, Djed will also have another token to protect it against exposure to ADA’s volatility.<\/p>\n

SHEN would act as the stablecoin\u2019s reserve currency, maintaining its price stability to ensure the 400-800% collateral guarantee against price fluctuations.<\/p>\n

The stablecoin\u2019s testnet version was initially launched in December 2022. Djed’s official website revealed that its value is currently 2.94 ADA, with a supply of 676,496 tokens.<\/p>\n

McCracken’s prediction of the mainnet launch goes in line with the developers’ initial announcement. According to them, Djed would go live on the mainnet later in January. McCracken also revealed the new Djed stablecoin is now worth $1.019 on the test network.<\/p>\n

In addition to the mainnet launch, a payment platform for Djed called DjedPay would launch at the same time. According to the official Twitter announcement<\/a>, DjedPay is a platform that would offer Djed-powered payments by traders and organizations.<\/p>\n

However, COTI is still trying to secure more partnerships to scale the stablecoins algorithmic adoption.<\/p>\n

Related Reading: Why Are Liquid Staking Cryptocurrencies Seeing Double-Digit Gains?<\/a><\/div>\n

Meanwhile, news of this development, among others, pushed ADA prices over the past few days. According to data from TradingView, ADA has added over 38% in the last 14 days and 11.1% in the past seven days. The cryptocurrency trades at $0.035235, with a 24-hour price gain of 1.3%.<\/p>\n

\"Cardano\"
ADA price trades at $0.3525 l ADAUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Cardano Releases New ADA Wallet Update<\/h2>\n

In another development, the ADA community recently saw a new upgrade in Cardano\u2019s Daedalus wallet, Daedalus 5.2.0. Input Output Global (IOG), the company behind Cardano, announced<\/a> the launch of Daedalus 5.2.0 via a tweet on January 16.<\/p>\n

Daedalus wallet<\/a> is the official desktop wallet for ADA developed by IOG. The new wallet version is compatible with Cardano node version 1.35.4 and wallet version 2022.12.14.<\/p>\n

The release of Daedalus 5.2.0 automatically updates the ProjectCatalyst API URL to a new URL. Also, the upgrade included Bryon Wallet tracking capability and aggregates of similar RAM sizes to allow for swift data analysis.<\/p>\n

Furthermore, Cardano\u2019s Bryon era (the first phase on the Cardano Roadmap) received a delivery of the Daedalus wallet and Yoroi wallet. Yoroi<\/a> is a light wallet designed by Emurgo, IOG\u2019s sister company, that offers users access to ADA quick day-to-day transactions on their mobile phones.<\/p>\n

Featured Image From Pixabay\/ AnTa_ranga, Charts From Tradingview<\/div>\n","protected":false},"excerpt":{"rendered":"

Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. Rick McCracken, the owner of the ADA staking pool, DIGI, and also a Cardano supporter, did not hesitate to make his findings and prediction known via his Twitter handle. Recall there was an announcement earlier on Djed\u2019s official Twitter handle on January 14, affirming that the stablecoin\u2019s launch this month remains on track. Furthermore, as per COTI Network\u2019s announcement on January 5, the soon-to-launch stablecoin bagged a new partnership with Yepple Incorporated. Related Reading: Optimism Sees Spike In USDC And USDT Transactions Eclipsing $1 Billion The partnership aims to ensure optimal usage of Djed in the Cardano ecosystem. It would also promote the integration of the payment for NFT transactions using Djed. Djed To Go Live Along With New Stablecoin Payment App, DjedPay Djed is Cardano\u2019s first ADA-backed stablecoin powered by COTI Network. It is an over-centralized stablecoin with a collateral rate between 400-800%, according to the description on adapulse.io. According to the CEO of the COTI Network, Shahaf Bar-Geffen, in addition to ADA backing, Djed will also have another token to protect it against exposure to ADA’s volatility. SHEN would act as the stablecoin\u2019s reserve currency, maintaining its price stability to ensure the 400-800% collateral guarantee against price fluctuations. The stablecoin\u2019s testnet version was initially launched in December 2022. Djed’s official website revealed that its value is currently 2.94 ADA, with a supply of 676,496 tokens. McCracken’s prediction of the mainnet launch goes in line with the developers’ initial announcement. According to them, Djed would go live on the mainnet later in January. McCracken also revealed the new Djed stablecoin is now worth $1.019 on the test network. In addition to the mainnet launch, a payment platform for Djed called DjedPay would launch at the same time. According to the official Twitter announcement, DjedPay is a platform that would offer Djed-powered payments by traders and organizations. However, COTI is still trying to secure more partnerships to scale the stablecoins algorithmic adoption. Related Reading: Why Are Liquid Staking Cryptocurrencies Seeing Double-Digit Gains? Meanwhile, news of this development, among others, pushed ADA prices over the past few days. According to data from TradingView, ADA has added over 38% in the last 14 days and 11.1% in the past seven days. The cryptocurrency trades at $0.035235, with a 24-hour price gain of 1.3%. Cardano Releases New ADA Wallet Update In another development, the ADA community recently saw a new upgrade in Cardano\u2019s Daedalus wallet, Daedalus 5.2.0. Input Output Global (IOG), the company behind Cardano, announced the launch of Daedalus 5.2.0 via a tweet on January 16. Daedalus wallet is the official desktop wallet for ADA developed by IOG. The new wallet version is compatible with Cardano node version 1.35.4 and wallet version 2022.12.14. The release of Daedalus 5.2.0 automatically updates the ProjectCatalyst API URL to a new URL. Also, the upgrade included Bryon Wallet tracking capability and aggregates of similar RAM sizes to allow for swift data analysis. Furthermore, Cardano\u2019s Bryon era (the first phase on the Cardano Roadmap) received a delivery of the Daedalus wallet and Yoroi wallet. Yoroi is a light wallet designed by Emurgo, IOG\u2019s sister company, that offers users access to ADA quick day-to-day transactions on their mobile phones. Featured Image From Pixabay\/ AnTa_ranga, Charts From Tradingview<\/p>\n","protected":false},"author":584,"featured_media":516574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[79508,12332,17201,87667],"class_list":["post-516573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-adausdt","tag-cardano","tag-emurgo","tag-rick-mccracken"],"acf":[],"yoast_head":"\nRick McCracken Predicts Mainnet Launch For Djed, A Cardano Stablecoin<\/title>\n<meta name=\"description\" content=\"Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. 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