von • Djed, the Cardano-based overcollateralized stablecoin, has seen immense success since its release to the market – 1.85 million coins have been minted and 40,000 burned in two days.
• Djed and SHEN are now listed on major Cardano DEXs like Minswap, Wingriders, and MuesliSwap as well as Bitrue – a major centralized cryptocurrency exchange.
• CoinGecko and DeFi TVL aggregator DefilLama have also unrolled Djed and SHEN to millions of users on their sites.
Introduction
Cardano’s overcollateralized stablecoin Djed is making waves only two days after it’s launch with massive burn and nearly 2 million token mints.
Milestones Achieved
Djed has achieved many milestones in a short period including minting 1.85 million coins and burning 40,000 tokens. It has attracted 27 million Cardano (ADA) tokens as backing with an 800% reserve ratio. 21M SHEN (Djed’s Reserve Coin) have been minted with 73K SHEN burnt so far resulting in a 623% reserve ratio.
Listings On Platforms
Both Djed and SHEN are receiving wide coverage across many media publications since their launch with listings on many platforms reaching a sizable number including major Cardano DEXs such as Minswap, Wingriders, and MuesliSwap as well as Bitrue – a major centralized cryptocurrency exchange which will help increase accessibility to crypto users globally . CoinGecko and DeFi TVL aggregator DefilLama have also unrolled Djed and SHEN to millions of users on their sites.
Trading Volume Increasing
Trading volume for both Djed/ADA and SHEN/ADA pairs is increasing rapidly on these platforms due to the increased popularity of the assets amongst traders.
Upcoming Upgrades
COTI has also revealed upcoming upgrades which will see further improvements made to the platform allowing for greater usability of both assets by mainstream audiences worldwide.
