Djed is getting more and more attraction.
As Cardano’s official stablecoin Djed edges close to its mainnet deployment, several organizations have indicated an interest in using the algorithmic stablecoin.
COTI, the official issuer of Djed, noted that it has recently inked partnership deals with five companies that will use the algorithmic stablecoin on their respective platforms.
Since our last update about a month ago, we have announced 5 new partnerships to use $Djed. We also see more reviews from KOLs discussing algorithmic stablecoins and why overcollateralization is crucial.
— COTI (@COTInetwork) July 29, 2022
According to an announcement, COTI partnered with Trading Trent to integrate Cardano stablecoin into its trading system.
The move will enable Trading Trent users to utilize the stablecoin in the purchase of Cardano non-fungible tokens (NFTs) and other ecosystem tokens.
In a similar development, COTI also partnered with Kirkstone, an organization leveraging Cardano to revolutionize the real estate industry.
Kirkstone partnered with COTI to integrate $Djed to its platform, to protect its clients from increased market volatility.
As reported by TheCryptoBasic, COTI also announced this month that it has partnered with cloud computing platform Iagon as part of growing Djed’s adoption.
Iagon is planning to integrate Djed into its upcoming marketplace for decentralized computing resources. The algorithmic stablecoin will play an integral role in the trading process of the marketplace.
Similarly, COTI recently collaborated with Astarter, as part of the growing partnership for $Djed’s adoption. Astarter plans to use $Djed to bring Cardano stable market pairs to its trading platform dubbed the Astarter Decentralized Exchange (ADEX).
Lastly, Thrift, a decentralized finance platform, joined the list of partners willing to use the Cardano official stablecoin on its system.
“By integrating Djed into their wallet and products like; saving goal use cases, crowd lending, P2P, fiat on-off ramp, multi-payments, and Thrift protocol, Thrift’s users can use Djed to avoid market volatility in saving, making payments, and investing,” COTI stated in an announcement.