Cardano’s Djed Stablecoin Receives a New Partnership Prior to Launch

The COTI network has announced a new Djed collaboration, this time with blockchain firm Yepple, which provides NFT payment gateways that take any fungible native token as payment.

When a project developer sells an NFT collection, the cost of ADA is liable to change. To prevent this, creators will now list their NFTs with a DJED price tag. This will provide more steady revenue for creators.

According to a blog post by COTI, the agreement intends to enable optimum Djed use across the whole Cardano ecosystem. This partnership will specifically enhance the integration of Djed payments for NFTs on Cardano.

Djed, a crypto-backed algorithmic stablecoin designed by Cardano developer IOG and powered by COTI, stabilizes its price via smart contracts. Protocol testing is still in progress, while development continues on the platform.

According to U.Today, the public testnet version 1.1.1 of Djed was restarted in December. This version has various new features, including compatibility with the Vasil hard fork.

Shahaf Bar-Geffen, chief executive officer of the COTI network, claimed that Djed will be subjected to a thorough third-party security assessment before its release on the mainnet, once developers and testers had proven its security and functioning. January 2023 is the planned launch date for the algorithmic stablecoin.

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