Cardano-based Djed stablecoin about to launch, the final update has been released. COTInetwork shahafbg
holders who were the first to help provide liquidity had to pay the same fees that would be paid by everyone on the platform with no preferred conditions for them.
The next wave of liquidity providers who mint SHEN tokens will be able to benefit from fees collected before their arrival. SHEN is currently worth more than ADA; this is why minting this reserve token at a higher price can be compared to buying a stake in a valuable asset. CEO of COTI Shahaf Bar-Geffen commented on the above-mentioned tweet, jokingly asking if the stablecoin is going to be still launched in January as today is the last day of this month., the names Djed and SHEN were taken from ancient Egyptian culture. Djed is a symbol that stands for stability and strength, also known as"The Backbone of Osiris."
SHEN is a symbol of royalty and symmetry. It also refers to such notions as infinity, eternity, protection and completeness. SHEN is tradable, and by buying and selling it, users can help Djed maintain its stability to the USD it is backed with. Besides, while trading, they will be able to earn a portion of the transaction fees in the reserve pool.
Djed is expected to become the fuel that will help the struggling DeFi system of Cardano, adding much more liquidity to it.
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