According to TechFlow, Cardano developers announced that its first decentralized stablecoin, Djed, will be launched on the mainnet in January. Djed was developed by Coti in collaboration with Cardano lead developer Input Output and has been in development for more than a year. It is a decentralized stablecoin soft-pegged to the US dollar. When it is launched, Djed will be integrated into 40 applications in the Cardano ecosystem.

It is reported that after the launch of Djed, Cardano users will be able to use Cardano's native token ADA as collateral to mint stablecoins. Stablecoins are designed to be over-collateralized, and each Djed requires more than 400% of the collateral value to be minted. Original link