The Cardano ecosystem stablecoin Djed will launch on the mainnet in January and can be minted through over-collateralization with ADA

ChainCatcher news, Cardano developers recently announced in a meeting that its first decentralized stablecoin Djed will launch on the mainnet in January. Djed, developed in collaboration with Coti and Cardano's chief developer Input Output, has been in development for over a year and is a decentralized stablecoin soft-pegged to the US dollar. Upon launch, Djed will be integrated into 40 applications within the Cardano ecosystem.

After the launch of Djed, Cardano users will be able to use Cardano's native token ADA as collateral to mint the stablecoin, which is designed to be over-collateralized, requiring more than 400% collateral value for each Djed minted. (The Block)