Cardano DEX, Djed Stablecoin Builder Hint at Major Announcement

Cardano DEX, Djed Stablecoin Builder Hint at Major Announcement

Wing Ridersan automated market maker (AMM) and decentralized exchange (DEX) built on top of Cardano using the eUTxO model, hinted at a major announcement with COTI, stablecoin builder Djed.

“Something BIG is coming to WingRidersDEX. Something you’ve been waiting for a while. WingRiders Network and COTI announcement coming soon.” WingRiders broke the news in a Twitter post, asking users to guess what the announcement might be.

In the excitement, several users took turns trying to guess what the big upcoming announcement might be, with some saying it could be the launch of the stablecoin Djed.

A user wrote“Well, with COTI in place and the announcement of the wingriders, I’m going to say: DJED is just around the corner.”

COTI, the native asset of the COTI network, is up 12% in the last 24 hours at $0.077. In August 2022, COTI announced the partnership between the stablecoin Djed and WingRiders. The partnership aims to explore the possibilities of integrating Djed stablecoin into the WingRiders DEX.

This could be a major reason for the assumptions pointing to Djed’s announcement.

The grandfather of stablecoins

Djed refers to the oversized stablecoin built to power the Cardano ecosystem. Since the introduction of Djed in 2021, COTI has worked with the Cardano IOG team on the development of Djed. Already, more than 40 partnerships have been established to enable the proper use of Djed.

According to a post by the Djed stablecoin team on Twitter, the supersized stablecoin is expected to launch this month, in January.

The COTI network has announced that one of its goals for 2023 is to push Djed to become the dominant stablecoin on the Cardano network. He says that technical improvements for Djed will continue to be rolled out, including full Vasil support and staking through the smart contract.

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