Just one week after its mainnet launch, the stablecoin Djed, created by COTI and IOG—a builder of Cardano platforms—has seen a surge in usage.
Cardano’s Djed unique addresses grow by 14,500%
In the past week, Djed has grown exponentially in popularity. Only a few days after launch and it is already among Cardano’s most popular dApps, with 14 587% increase in unique addresses over the last seven days.
Cardano’s new stablecoin, Djed, saw itself reach a reserve ratio of 800% just two days after its launch. The platform amassed 28 million ADA in that time frame as well.
Djed launch marks a major milestone for Cardano
According to COTI, the launch of Djed was a landmark moment for not just its network and Cardano—but also the entire DeFi ecosystem. As an open-source protocol that allows users to hold, mint, or burn both DJED and SHEN
After securing bank accounts, COTI’s CEO received goodwill messages from a number of key figures.
Djed had secured several new listings before its launch, reaching a total supply of 1 trillion.
The Cardano-based Muesliswap and Djed partner, as well as the leading Cardano DEX in terms of total value locked (TVL), added DJED/SHEN trading pairs to their platforms.
Djed has already established over 40 partnerships, positioning itself as a key player in the stablecoin market. With its rapid growth and successful launch, Djed’s success is undeniable.
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