After Vasil Launch, Cardano Will Release Djed Stablecoin Soon
JAKARTA – Cardano is rumored to be launching the Djed stablecoin following the release of the Vasil hard fork. Information only, Djed stablecoin will be issued by crypto developer COTI.
“We are also waiting for Cardano's Vasil hard fork to take place. Vasil's hard fork will allow the scalability needed to run Djed safely on the Mainnet," wrote COTI in a recent blog post.
As U.Today previously reported, a Vasil testnet hard fork proposal has been put forward. This hard fork change will probably be felt on the testnet after July 3. Therefore a number of related parties need to carry out testing to take up to four weeks.
According to Djed's team, the completion of the Vasil Hard Fork and the conclusion of the final audit could signal the start of Djed's deployment on the mainnet.
Djed, Cardano's over-insured stablecoin, was recently launched on testnet. The latest report from the team shows that so far more than 514,559 tDJED and more than 6,688,918 tSHEN reserve coins have been minted, giving a reserve ratio of 653%.
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To ensure security, on-chain code undergoes level 2 audit certification after testnet launch. Currently, the corrective measures under the audit records have been implemented, and a new version of the code is being submitted for a final audit.
Cardano DEX Minswap enables ADA staking rewards for DEX Minswap users. Cardano has received an update to include ADA rewards for liquidity providers. Starting July 1, liquidity providers will be able to harvest Cardano's ADA along 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 has been one of the most requested features for a while.
However, it is not yet known whether Djed will be used to strengthen the Cardano ecosystem or only as a transaction tool on the ADA network. As of writing, Cardano's price is trading at IDR 6,746. ADA prices have fallen 7.5% in the past week.