We are thrilled to announce our partnership with COTI, which will be theofficial issuer of Djed, Cardano’s algorithmic stable coin. Cardax DEX will adopt Djed and provide trading pairs with Djed and its Reserve Coin, Shen, making them available to everyone.
We are all aware that stable coins are a fundamental element in DeFi, allowing users a smooth on-and-off ramp for their crypto assets. Djed will make this happen natively on the Cardano blockchain.
Its arrival will provide more exciting trading and investing opportunities inside the Cardano ecosystem. Being a decentralized, crypto-backed algorithmic stable coin, Djed is resistant to censorship and adds security and openness to the Cardano Defi ecosystem. We are happy to team up with COTI to expand the adoption of Djed and its Reserve Coin, giving users access to its ecosystem.
To get more insightful information about Djed, you can read this in-depth article on our blog.
Yair Testa, Head of Business Development at COTI said: “ We are excited to be partnering with Cardax to integrate Djed to their platform. We see the partnership as a necessary means to grow the accessibility of Djed once its launched”
Ryan Morrison, Founder & CEO at Cardax said: “We are very pleased to partner with COTI for the integration of Djed into our DEX. Stablecoins are an essential part of DeFi. So we are happy to provide a platform where Djed will be able to find liquidity and users will be able to trade a stable coin native to the Cardano ecosystem”.
COTI is a layer 1 fintech on the blockchain ecosystem, specifically designed for payments.
COTI meets the challenges of both centralized finance (fees, latency, global inclusion, and risk) and Decentralized Finance DeFi (fees, clogging, and complexity) by introducing a new type of DAG-based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.
Cardax DEX is a non-custodial, decentralized exchange on the Cardano blockchain. By deploying the Streaming Merge protocol, Cardax DEX handles users’ orders in a truly decentralized, deterministic manner and process them fairly and efficiently. Cardax DEX is managed by Cardax B.V., a Dutch private company located in Amsterdam.