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Cardano will launch the first algorithmic stablecoin

During a speech at the Cardano Summit held on Sunday in the US state of Wyoming, Charles Hoskinson said that the value of the Djed token will be secured by smart contracts – algorithms will operate on the stocks of the underlying coins so that the Djed price is about $ 1. The stablecoin Djed is developed by COTI. According to an article on the IOHK blog, the demand for stablecoin will be huge as it can be used to pay commissions on the Cardano network. In addition, the token is being developed with an eye to use in DeFi projects.

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