{"id":11073,"date":"2021-09-27T13:28:22","date_gmt":"2021-09-27T12:28:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=11073"},"modified":"2021-09-27T13:28:22","modified_gmt":"2021-09-27T12:28:22","slug":"coti-sets-to-launch-a-new-defi-stablecoin-on-the-cardano-blockchain","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/coti-sets-to-launch-a-new-defi-stablecoin-on-the-cardano-blockchain\/","title":{"rendered":"Coti sets to launch a new DeFi stablecoin on the Cardano blockchain"},"content":{"rendered":"\n
Coti and Cardano are partnering to launch a DeFi stablecoin on the Cardano blockchain<\/a>, the new stablecoin will provide a mechanism for decentralized finance (DeFi) activities while avoiding transaction costs.<\/h5>\n\n\n\n
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Cardano founder Charles Hoskinson\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and Coti CEO Shahaf Bar-Geffen announced Sunday at the Cardano Summit that Coti, Cardano's payment gateway provider, will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network.<\/p>\n\n\n\n

To provide price stability and provide an instrument for DeFi transactions, the new stablecoin will be built on an algorithmic design employing smart contracts.<\/p>\n\n\n\n

The stablecoin will be used to pay transaction fees on the Cardano network, avoiding “volatile and excessive gas expenses” and making transaction costs “more predictable.”<\/p>\n\n\n\n

Djed's stablecoin protocol, according to a research paper published in August, will act as an “autonomous bank<\/a> that buys and sells stablecoins at a price in a range that is tethered to a target price.” <\/p>\n\n\n\n

The stablecoin will function by minting and burning various stable assets and reserve coins while keeping a reserve of base currencies.<\/p>\n\n\n\n

The Djed stablecoin, according to Hoskinson, might be a game-changer in the crypto business since it appeals to an “entire new audience at a time when the industry is already undergoing exponential growth.”<\/p>\n\n\n\n

Coti recently joined with Ardana<\/a>, Cardano's stablecoin hub, to enable decentralized stablecoin payments to AdaPay, a Cardano (ADA) payment gateway that supports over 30 fiat currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coti and Cardano are partnering to launch a DeFi stablecoin on the Cardano blockchain, the new stablecoin will provide a mechanism for decentralized finance (DeFi) activities while avoiding transaction costs. Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sunday at the Cardano Summit that Coti, Cardano’s payment gateway provider, will be the official […]<\/p>\n","protected":false},"author":12,"featured_media":11080,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[202,193,4667,197,1531],"class_list":["post-11073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-blockchain","tag-cardano","tag-coti","tag-defi","tag-stablecoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Coti-sets-to-launch-a-new-DeFi-stablecoin-on-the-Cardano-blockchain.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=11073"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11080"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=11073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=11073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=11073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}