Aada Finance to Integrate the Djed Stablecoin, issued by COTI
As Aada Finance prepares to launch, they are ecstatic to announce a partnership with Djed. The integration comes as part of their schedule of strategic alliances. Moreover, it is part of the lending protocol’s aim to provide first-class services to the Cardano community. Ultimately, the feature will efficiently utilise their native AADA token.
“Stablecoin pairs are crucial for every fully working DeFi platform. In this regard, we see our collab with COTI as a core part of our growth. Indeed, Djed will serve as the backbone for our pooled lending. Also, the integration will enable Aada’s users to trade and provide liquidity with ease. Finally, this step will increase our reliability and stability.”, said Mantas Andriuska, Co-founder of Aada Finance
Shahaf Bar-Geffen COTI CEO said: “The partnership with Aada makes sense given that the Djed platform is an integral part of Cardano DeFi. By integrating Djed into their platform, Aada users will be able to borrow and lend using the Djed stablecoin. We look forward to watching this partnership unfold.”
Undoubtedly, the partnership between Aada Finance and Djed is part of their long-term plan to work with other Cardano projects. Thanks to this move, the two native assets will increase their adoption. Hopefully, the collab will propel Aada towards the final milestones before the launch.
What is Djed?
Djed is an algorithmic stablecoin built on Cardano and issued by COTI. The digital currency uses a crypto-backed design and a smart contract. As expected, the latter enables investors to trade at stable prices. Indeed, the stablecoin’s primary purpose is to act as an autonomous bank by giving the needed tools. That way, Djed aims to deliver more reliable and cheap transactions. What’s more, it will eliminate the risks of price volatility.
About COTI
COTI is a fully encompassing “Finance on the blockchain” ecosystem, specifically designed to meet the challenges of both centralized finance (fees, latency, global inclusion and risk) and Decentralized Finance DeFi (fees, clogging and complexity) by introducing a new type of DAG based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.
About AADA Finance
AADA Finance is a crypto assets lending platform built on the Cardano blockchain. The platform uses a pooled lending protocol to make assets more readily available and to provide a seamless lending and borrowing process. Users are able to deposit assets to earn a yield, obtain a loan (overcollateralized and undercollateralized) and swap deposited assets. By building on Cardano, the platform will also be able to offer extremely low transaction fees.
On the same day COTI announced their partnership with AADA and here is what they had to say”
Aada Finance to Integrate the Djed Stablecoin, issued by COTI
We are happy to announce another partnership, now with Aada Finance, a crypto assets lending platform built on the Cardano blockchain. Their smart contract allows users to deposit assets and collect interest or borrow assets and perform financial actions. The integration comes as part of our plan to create strategic alliances with other Cardano projects.
Mantas Andriuska, Co-founder of Aada Finance said: “Stablecoin pairs are crucial for every fully working DeFi platform. In this regard, we see our collab with COTI as a core part of our growth. Indeed, Djed will serve as the backbone for our pooled lending. Also, the integration will enable Aada’s users to trade and provide liquidity with ease. Finally, this step will increase our reliability and stability.”
Djed, an algorithmic stablecoin built on Cardano and issued by COTI, will be released later this year. As our technical team continues to meet product milestones, we will be exploring innovative ways to ensure Djed’s full integration and utilization across the crypto ecosystem once launched.
Shahaf Bar-Geffen, COTI’s CEO said: “The partnership with Aada makes sense given that the Djed platform is an integral part of Cardano DeFi. By integrating Djed into their platform, Aada users will be able to borrow and lend using the Djed stablecoin. We look forward to watching this partnership unfold.”
Undoubtedly, the partnership between Aada Finance and Djed is part of our long-term plan to work with other Cardano projects. Thanks to this move, the two native assets will increase their adoption.
Aada is a decentralized non-custodial liquidity market protocol. Aada is one of the first lending protocols built on top of Plutus/Haskell Cardano smart contracts. Platform users can engage as depositors or borrowers in a decentralized non-custodial liquidity market protocol. Depositors receive a passive income by providing liquidity to the market, while borrowers can borrow with over-collateralization or under-collateralization (a.k.a flash loans).
Via site
Related article: Update: COTI Partners with Doex, MeowSwap, Indigo, Adax, & Paribus As Cardano Djed Stablecoin Release Date Nears
