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The long-awaited launch of the Djed stablecoin is scheduled for next week. It is believed that this development will drive the growth and creation of new applications in the decentralized finance (DeFi) industry in the Cardano ecosystem.
According to cryptocurrency experts, this event will also help Cardano (ADA) compete in the altcoin market. On Tuesday, the team at COTI, a price-optimized platform that will become the official issuer of Djed, announced the launch timeline:
We are happy to share another update about Djed and inform you that the launch is scheduled for next week.
The developers said they are working on a snapshot feature and user interface that will eventually be included in Djed. The interface will make Cardano (ADA) staking easier and provide additional incentives for SHEN holders, as well as provide SHEN holders with the ability to track other prizes.
Over 40 different platforms, including exchanges such as WingRiders and Bitrue, have pledged to help Djed and Shen by adding them to their platforms.
Some members of the crypto community expect that the imminent debut of the stablecoin Djed will accelerate the rise in the price of Cardano, which will allow it to leave behind the $0.381 level and target the critical resistance at $0.402.
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