COTI announces three listings for Cardano Djed stablecoin and its reserve token.
Hours after going live on mainnet, Cardano stablecoin DJED and its reserve token SHEN have now been listed on the Cardano-based decentralized exchange, WingRiders.
COTI Network made this known yesterday on Twitter. Following the listing of DJED and SHEN on WingRiders, COTI said users could start providing liquidity for the assets to earn rewards.
“We are glad to share that $DJED and $SHEN are now listed on @wingriderscom. Users can now provide liquidity and benefit from farming rewards!” said COTI.
The development comes less than two weeks after WingRiders teased an announcement with COTI. WingRiders noted that the announcement is “something big” that its users had patiently waited for while calling on its followers to guess.
Since WingRiders had previously partnered with COTI to integrate DJED into the DEX at launch, it was easy for users to speculate that the announcement was related to the Cardano stablecoin.
DJED and SHEN Now Available on MuesliSwap
In a similar development, COTI also disclosed that DJED and SHEN have also been listed on another Cardano-based DEX, MuesliSwap.
We are pleased to share that $DJED and $SHEN are now listed on @MuesliSwapTeam. Users can now provide liquidity and benefit from farming rewards!$ADA/ $DJED and $ADA/ $SHEN pools are open here: https://t.co/8kRyo9QW0W
Read more: https://t.co/MASCHv5bhg$COTI pic.twitter.com/krbkTuEITS
— COTI (@COTInetwork) January 31, 2023
The listing of DJED and SHEN will allow MuesliSwap users to provide liquidity to the ADA/DJED and ADA/SHEN staking pools. Furthermore, SHEN and DJED are also available on MuesliSwap’s yield farming program, thus allowing users to earn farming rewards on the assets.
DJED and SHEN Now Listed on MinSwap
Aside from WingRiders and MuesliSwap, the stablecoin has also been listed on another Cardano-based decentralized exchange, MinSwap.
“Following today’s successful launch, we are pleased to share that DJED and SHEN are now listed on Minswap’s DEX platform!” said COTI.
DJED Finally Goes Live
According to COTI, listing DJED and SHEN on the decentralized exchanges will bolster the mainstream adoption of the stablecoin. The announcement follows the official launch of DJED on mainnet.
As reported by TheCryptoBasic, the much-anticipated Cardano Djed stablecoin launched on mainnet yesterday after more than a year of preparation, development, and successful audits.
Like Dai, DJED is an over-collateralized algorithmic stablecoin that maintains its peg to a dollar via a mint and burn mechanism of its reserve coin, SHEN. The stablecoin will maintain a 400% to 800% collateral ratio, with a proof of Reserve set up to protect its value from different market scenarios, COTI explained.