COTI and Minswap DEX to Explore Integration of Djed Stablecoin.
We are thrilled to announce that Minswap and Coti are exploring ways to implement the Djed stablecoin on the Minswap DEX.
Djed is an algorithmic stablecoin design that uses smart contracts to ensure price stability and maintains a reserve of ‘base coins’, balancing its value by continuously minting and burning stable assets and reserve coins as required. DJED have predictability in how much transaction costs, rather than having volatile gas fees, which makes it very special with a view to a usage in the future.
Djed can be paired with other coins in the Minswap DEX, which will allow users to be able to provide liquidity through Djed trading pools on Minswap, enabling them to generate yield on their crypto assets in the DeFi market while alleviating the potential adverse effects of market volatility and impermanent loss.
“We are excited to explore integrating Stablecoins like Djed on Minswap DEX. Stablecoins alleviate the potential adverse effects of market volatility and provide a convenient unit for transacting.” Long Nguyen, Co-founder and Lead Engineer at Minswap.
Minswap is a community-centric decentralized exchange on Cardano. In that it has no venture capital funding or private investment, making their tokens fairly distributed, and ensuring it’s the community of users that are maximally rewarded, not speculators and insiders. Minswap aims to capitalize on Cardano’s peer-reviewed and secure pillars to realize its potential of financially empowering everyone.
COTI is a fully encompassing “Finance on the blockchain” ecosystem, specifically designed to meet 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.