Blockchain company COTI announced that its Cardano ecosystem decentralized stablecoin $DJED, developed in collaboration with Input Output, has been launched on the mainnet.

$DJED is minted by users using $ADA as collateral and uses $SHEN as a reserve token. Its collateral ratio is between 400% and 800%. When the collateral ratio is below 400%, the platform will prevent the destruction of $SHEN and the minting of new $DJED. If the collateral ratio exceeds 800%, users will no longer be able to mint $SHEN, but can still mint and destroy $DJED.

$DJED has established partnerships with more than 40 Cardano ecosystem projects. In addition, $DJED and $SHEN will be listed on Bitrue.