Charles Hoskinson shared an update to the development of the stablecoin Djed, which is built on the Cardano blockchain
IOG CEO and Founder of Cardano Charles Hoskinson shared information from COTI about the Djed stablecoin update.
An article posted by the development team details the current implementation of Cardano Plutus for Djed. The team is working on core contracts that will help ensure stable exchange rates as well as enable users to submit multiple orders at the same time. The developers are currently testing this implementation.
According to the article, the preview version will be released within the next few days.
Djed is a stablecoin that will use smart contracts to maintain a basic supply of coins in an autonomous bank, which will also operate using smart contracts. This will allow users to trade stablecoins and use them for transactions on DeFi.