Cardano Djed stablecoin unique addresses skyrocket by 14,500% CardanoADA CardanoCommunity $ADA ADA BuildingonCardano
According to an update shared by the COTI network 48 hours after the Djed mainnet launch, a total of 28 million ADA were provided on the platform., a reserve ratio of 800% was attained, meaning that at that time, no additional Shen could be minted until the ratio was lowered.
However, users will still be able to mint and burn DJED. Also at the time, 1.85 million DJED were minted, and 40,000 were burned. On Feb. 3, COTI's Treasury received the first batch of Djed operational fees. A conversion of ADA to COTI was done on the open market, and the COTI was funneled to the treasury as a reward to its participants.
In positive news for the Cardano ecosystem, the public testnet of the EVM sidechain built by IOG has launched, marking a new era of interoperability for the Cardano network.
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