Cardano, the Proof-of-Stake blockchain protocol, has revealed the progress and next steps for its improvement proposal CIP-1694. The proposal aims to establish a Minimum Viable Governance framework, which has been discussed in 50 workshops involving around 1,000 community members. The consensus is to collect feedback and align the proposal with the needs of the community and the Cardano protocol. The Cardano core developers will present several voting options in the coming months to ensure the community guides the governance mechanism. Additionally, Cardano has released its layer-2 scaling solution, Hydra Head, and hosted the launch of DJED, a collateralized stablecoin.

The Djed stablecoin would soon be available on Ethereum, Binance Smart Chain (BSC,) and others.

COTI, the blockchain-based payment platform in charge of the Cardano stablecoin Djed, announced today that it had sent the second batch of Djed’s operational fees to the COTI Treasury to distribute among users as staking rewards. Accordingly, the maximum APY for staked tokens has been adjusted to 74.4%.

Roughly over a week since launch, the Cardano-based over-collateralized stablecoin Djed has attracted over 30 million ADA tokens as backing.

We are happy to share a new Djed update with you. As stated in the past, we will keep on improving the product on an ongoing basis, including releasing enhanced versions in the future.

Cardano-based NFT-focused platform NMKR has announced that its payment service has added DJED as a payment option, making it possible for users to purchase NFTs on supported platforms using the Cardano stablecoin.

DJED is now available on Flint and other top crypto wallets.

COTI Network, the official issuer of Cardano’s Djed stablecoin, has shared details about the progress of DJED. According to COTI, the ADA-backed stablecoin has received massive response and participation from cryptocurrency community members since it went live on mainnet. 

DJED and SHEN are now listed on CoinMarketCap and Coingecko

The total value of assets locked (TVL) on Cardano-based overcollateralized stablecoin Djed crossed $10 million during the first 24 hours of its launch, according to DeFillama data.