Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin.
The algorithmic stablecoin will be integrated with selected partners and Decentralized Exchanges (DEXs), who will reward users for providing liquidity using Djed.
In a bid to grow at a sustainably healthy pace, the developers plan to adopt a gradual and slow approach to providing $ADA liquidity to the Djed smart contract.
Related: Cardano price chart paints 'Burj Khalifa' with 7-month losing streak — More losses ahead?
On Sept. 22, Cardano’s long-awaited Vasil upgrade finally went live.
At the time of publication, Cardano was trading at $0.30.

Source - Cointelegraph
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