The Cardano ecosystem is on the cusp of a big week
, Cardano-based decentralized exchanges MinSwap and MuesliSwap as well as plenty of other decentralized finance apps will add support for the much-hyped Djed stablecoin
The launch of the Djed stablecoin is expected to be a boon for Cardano’s struggling DeFi ecosystem since it will likely bring much more liquidity. The algorithm of the much-talked-about stablecoin is based on a collateral ratio that is in the range of 400%-800%. In layman's terms, other tokens will back the stablecoin. It will be impossible to mint new DJED tokens if the reserve ratio drops below the 400% mark.
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