Cardano’s Djed Stablecoin Soars with 1.85M Minted and 40K Burned
• Djed, Cardano-based overcollateralized stablecoin has achieved massive success 2 days after its launch with 1.85 million coins minted and 40,000 coins burned.
• 27 million Cardano (ADA) tokens have been used as backing for Djed and 800% reserve ratio has been achieved.
• Djed and SHEN are now listed on major cryptocurrency exchanges like Minswap, Wingriders, MuesliSwap, Bitrue, CoinGecko and DefiLlama to increase accessibility to users globally.
Cardano’s Overcollateralized Stablecoin Launches Successfully
The newly launched Cardano-based overcollateralized stablecoin Djed is making waves only two days after it’s launch. The blogpost recapping the launch of Djed reported that a total of 1.85 million coins were minted and 40,000 tokens had been burned thus far. Additionally, 27 million Cardano (ADA) tokens had been used as backing for the asset with an impressive 800% reserve ratio being met.
DJED & SHEN Receive Wide Coverage & Listings
Following the successful launch of Djed and SHEN both assets have received wide coverage across many media publications as well as listings on major platforms such as Minswap, Wingriders ,MuesliSwap ,Bitrue ,CoinGecko and DefiLlama . These listings will help increase mainstream adoption of both assets by increasing their availability to crypto users globally.
21 Million SHEN Minted & 73K SHEN Burnt
In addition to the success surrounding the launch of DJED & SHEN an impressive 21 million SHEN was minted while 73K was burnt in order to achieve a 623% reserve ratio at the time when post was made to recap the launch of DJED & SHEN . This goes further to show that there is immense support for these newly released cryptocurrencies which bodes well for future growth in this space.
COTI Upgrading Platforms For Better User Experience
COTI has also announced plans for upcoming upgrades in order to provide better user experience . This includes upgrading existing platform features such as listing fees , transaction fees , storage infrastructure and more . With these improvements COTI aims to provide better accessiblity and reliability for their users around the world .
The success surrounding DJED’s release is undeniable with a whopping 1.85 million coins being minted within 2 days since its official launch along with vast amounts of support from investors around the world . Furthermore COTI’s pledge towards providing better user experience through various upgrades will likely create even more interest in this new asset class leading towards greater mainstream adoption in times ahead!