Cardano blockchain-backed Djed stablecoin is getting huge attention in the crypto industry, as its mainnet may soon go live. 

Cardano is an 8th-ranked crypto project in the crypto Industry. The initial aim of the Cardano project is to make blockchain technology a leading financial tool at the commercial level. The project team behind Cardano blockchain never focuses on promotional strategies, instead focuses on development work to make the Cardano Blockchain efficient. 

On 21 July, the Coti team reported through a blog post that Djed, a Cardano blockchain Network based stablecoin, grabbed 35 new partnerships before the mainnet launch. The main reason behind this sudden increment in the partnership is Vasil Hardfork, which may introduce it by the end of this month by the Cardano developer team IOHK.

Djed stablecoin

The Djed is a stablecoin of the Cardano blockchain that is under development by the COTI team. The testnet of Djed was already launched on the Cardano testnet by the Coti team. 

According to reports, the Coti team is waiting for the completion of Vasil Hardfork, which is expected to be introduced in the Cardano blockchain this month. After the Vasil Hardfork upgrade on the Cardano mainnet, Djed stablecoin will be introduced to allow the Cardano Blockchain ecosystem Defi Protocols to use Djed stablecoin in every type of payment including trade. 

Vasil Hardfork was planned to introduce in the Cardano Blockchain in June 2022 but later some Developers of the Cardano blockchain noted that there is a need to work against some bugs and also it will be better for Cardano’s Native token ADA because June was a very critical situation, where the whole crypto market was facing huge funds outflow.

At the time of writing this article, the price of the ADA coin is $0.508 and this price is 4.86% higher over the last 24 hours’ trade price.

Cardano's stablecoin grabs 35 new partnerships ahead of its mainnet launch 1

Read also: Ethereum shift to Proof-of-stake Consensus will make ETH 55% complete



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