• Djed, a Cardano-based overcollateralized stablecoin, has seen immense success since its launch two days ago. The coin has minted 1.85 million tokens and burned 40,000 tokens in the billion dollar market.
• Djed and SHEN are now listed on major Cardano DEXs like Minswap, Wingriders, and MuesliSwap. Trading volume for both Djed/ADA and SHEN/ADA pairs is increasing on these platforms.
• Bitrue, CoinGecko, DefiLlama have already unrolled Djed and SHEN to millions of users on their sites to increase mainstream adoption of both assets
Cardano’s overcollateralized stablecoin Djed’s is making waves only two days after it’s launch with massive burn and nearly 2 million token mints in the billion dollar market.
Mints & Burns
Djed has achieved many milestones in a short period including massive burn and nearly 2 million token mints. A total of 40,000 Djed has also been burnt thus far. 21M SHEN (Djed’s Reserve Coin) have also been minted, and 73K SHEN was burnt while having an 800% reserve ratio at the time of the blogpost launch.
Djed and SHEN are receiving wide coverage across many media publications since their launch as they are currently listed on major Cardano DEXs like Minswap, Wingriders, and MuesliSwap with trading volumes increasing daily. They have also received listings from centralized exchanges like Bitrue as well as analysis platforms such as CoinGecko and DeFi TVL aggregator DefiLlama which will help increase global accessibility to crypto users globallyd .
Massive Responses & Participation
COTI wrote in a medium blog post that they were very pleased with the massive responses and participation that they have seen so far just two days after launching Djed to the mainnet. 27 million Cardano (ADA) tokens have backed up Djeds creation through joint efforts of Cardano IOG ad COTI .
The successful launch of Djeds has proven to be successful with it’s quick achievement of milestones within such a short period of time attracting millions in backing ADA tokens along with listings from major exchanges & platforms globally which will no doubt help increase mainstream adoption for both assets!