Cardano (ADA) based stablecoin Djed goes live on mainnet

Ethereum (ETH) rival Cardano (ADA) has seen its first overcollateralized stablecoin Djed (DJED) go live on the mainnet.

As of February 1, more than 1.7 million DJEDs and 20.8 million SHEN have been issued. A total of 27 million ADA, worth 10.2 million USD, has been deposited into the contract of DJED/SHEN as collateral, with a margin ratio of nearly 600%.