The official Twitter deal with of COTI Community, the emitter of Djed stablecoin developed on the Cardano chain by IOHK and COTI, has unfold the phrase about Djed and its reserve token, SHEN, increasing their utility.
These two cash have been added by Aada Finance as borrowable property and collateral because of governance voting. Aada Finance is a decentralized lending protocol on Cardano by means of the technique of NFT bonds.
$DJED and $SHEN at the moment are out there as borrowable property and collaterals on Aada finance.@AadaFinance https://t.co/OtOJB1WMub
— COTI (@COTInetwork) February 16, 2023
Other than borrowing and lending, Aada Finance gives prospects with providers of buying and selling, yield farming and hedging.
Djed was launched on the mainnet on Jan. 31 after greater than a yr of arduous work for improvement and launch preparation. On the identical day, the minting of reserve token SHEN ceased because the platform had reached the 800% stage of collateral for Djed.
As reported by U.At the moment just lately, Djed has reached the essential milestone of getting 31,496,011 ADA cash as its reserve asset.
Three days in the past, a Djed-focused group account tweeted that the reserve ratio of the stablecoin totaled 515%. That included the aforementioned chunk of ADA, 23,583,443 SHEN. The general circulating provide of Djed on that day was 2,278,222 tokens.