Cardano Stablecoin Djed Mainnet Deployment Delayed

Another Cardano project deployment has been delayed.  

COTI, a leading enterprise-grade fintech company, has provided an update about Cardano’s official stablecoin Djed deployment on the mainnet. 

According to a blog post, COTI noted that Cardano’s Djed deployment on the mainnet will be delayed following the postponement of the Vasil hard fork launch. 

Yesterday, Input Output Global (IOG), the company responsible for Cardano research and development, noted that the Vasil upgrade that was earlier scheduled to launch before the end of this month had been postponed for a few more weeks. 

Since Djed is designed to align with the Vasil hard fork, COTI noted that it postponed the stablecoin deployment on the Cardano mainnet. Djed’s mainnet deployment will be on hold until the Vasil upgrade goes live, COTI noted. 

Vasil Hard Fork

Vasil is one of the most significant upgrades for the Cardano network. The upgrade is tipped to provide enhancements to Cardano’s features and functionality, including smart contract functionality, speed, and overall efficiency. 

With these improvements in place, Cardano adoption and transactions are expected to surge tremendously.    

“The Vasil hard fork is supposed to dramatically improve the network’s efficiency and, by that, to increase the number of transactions that can be made on top of Djed’s platform,” COTI said. 

The leading fintech company said it will focus on monitoring the updated timeline for the Vasil hard fork and will inform the community of new developments. 

“In the meantime, we will continue to build partnerships to assure utility for Djed from day one,” the company added. 

COTI Promoting $Djed’s Adoption

Last year, Charles Hoskinson, Cardano founder, chose COTI to become the official issuer of the Djed algorithmic stablecoin. Since Hoskinson made the announcement last year, COTI has embarked on a campaign to promote the widespread adoption of $Djed when it officially gets deployed on Cardano mainnet. 

So far, COTI has announced a series of partnerships with top projects that are committed to using the algorithmic stablecoin on their platforms. 

TheCryptoBasic reported this month that cloud computing platform Iagon partnered with COTI to use Djed in its upcoming marketplace for decentralized computing service.