Cardano’s Djed, an algorithmic stablecoin developed by Cardano’s IOG in collaboration with the COTI network<\/a>, has scored another partnership – this time around, with WingRiders, a Cardano-based DEX. According to the COTI network, the partnership is aimed at exploring the possibilities of Djed integration on the WingRiders DEX.<\/p>\n We are happy to announce yet another partnership, now with @wingriderscom<\/a>, an automated market maker DEX built on Cardano, to explore listing opportunities for $Djed<\/a> on WingRider\u2019s DEX.<\/p>\n Read more: https:\/\/t.co\/FXW7pMY9Nz<\/a> \u2014 COTI (@COTInetwork) August 17, 2022<\/a><\/p><\/blockquote>\n As reported by U.Today<\/a> in late July, the COTI network shared information that Djed has seen numerous partnerships numbering over 35 ahead of its launch. In another update, COTI reported that an additional five new partnerships to use Djed on their platforms have been undertaken after U.Today reported on it.<\/p>\n This follows as Cardano’s Djed stablecoin is intended to eventually serve as the primary currency used to pay for all of Cardano’s network transaction fees.<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n Collaborations for Djed include those with Astarter, a DeFi infrastructure hub on Cardano, and Celestial City, a MusicFi platform that allows artists to conduct Initial Song Offerings, and several others.<\/p>\n The Cardano daily<\/a> Twitter handle discusses depegged stablecoins and what led to their collapse. In May, the UST depegging event made headlines as the Terra ecosystem collapsed.<\/p>\n OUTSTANDING DE-PEGGED STABLECOIN<\/p>\n Our @Cardano<\/a> ecosystem is also having our own stablecoin, known as $DJED<\/a> – @DjedStablecoin<\/a>. However, before deep diving into the $DJED<\/a>, let\u2019s take a first look at other stablecoins on the crypto market to have a lesson.\n
$COTI<\/a> $DJED<\/a> pic.twitter.com\/GKJvvFJ5Wr<\/a><\/p>\n<\/a><\/p>\n
Djed ”overcollateralized”<\/h2>\n
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#stablecoin<\/a> #depeg<\/a> pic.twitter.com\/Gg5MqAY3Gz<\/a><\/p>\n