MinSwap and MuesliSwap, two decentralized exchanges operating on the Cardano blockchain, stated that they will support both Djed and Shen tokens in their statements.
Minswap, the largest decentralized exchange on Cardano, announced that it will open ADA trading pairs of Djed and Shen in a liquidity pool, while the exchange will have $30 million in liquid tokens. This figure will be $ 6.6 million on the MuesliSwap exchange.
After Djed is launched, Cardano users will be able to give ADA as collateral to produce Djed.
Djed will also hold more value than the collateral needed within the framework of safeguards against hazards. That is, they will have more collateral than necessary in their reserves. This is also present in DAI, one of Ethereum’s most popular stablecoins. More than 4x collateral will be required for each Djed.
Djed, which is expected to be officially opened for transactions and materialized next week, is released in cooperation with the crypto money company Coti and Cardano. Expected to be the first crypto-backed stablecoin in the Cardano ecosystem, Djed has been in development for over a year.
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