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HomeCrypto NewsMarketCOTI Reveals Next Development Plans for Cardano Stablecoin Djed

COTI Reveals Next Development Plans for Cardano Stablecoin Djed

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Upcoming development plans for Djed revealed by COTI.

COTI (referred to as The Currency of the Internet) has continued to work in partnership with the Cardano team to ensure a successful launch of Djed, the official stablecoin of Cardano.

Since Input Output Global (IOG) announced the algorithmic stablecoin last year, members of the Cardano community have eagerly anticipated Djed’s official launch. Interestingly, COTI has always shared updates about the progress made so far. In a blog post today, COTI gave an insight into the upcoming development plans for Djed.

Upcoming Dev Plans for Djed

According to the announcement, COTI and IOG are currently updating the off-chain code and specific libraries to properly handle Cardano node version 1.35.x on the private test environment.

COTI noted that the update became imperative following several changes that occurred on the Plutus backend applications (PAB), which was ushered in by the deployment of the Vasil hard fork.

“After implementing all the updates, a test run will be carried out to ascertain that everything works as expected. Once the test run is completed, it’ll be deployed to the public testnet,” COTI said.

At the moment, Djed’s development teams are waiting for the final audits of the algorithmic stablecoin to see if Djed has any critical issues. If no issues are discovered in the audit, COTI said the team would proceed to deploy the stablecoin on the Cardano mainnet.

“As you already know, we have high standards when it comes to security and quality, and we are working to ensure we maintain these standards. We will continue to keep you updated on new developments,” COTI said in a statement.

Growing Interest in Djed

Although Djed is yet to roll out on the Cardano mainnet, the stablecoin has continued to attract top projects on the Cardano ecosystem. 

In recent weeks, COTI has announced new Djed partnerships with companies willing to adopt Djed. The recent partners of Djed include decentralized exchange WingRiders, JaraNetwork, Cogito Protocol, and multi-player game Cardano Warriors.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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