COTI is happy to announce another partnership, this time with Cardax, a DEX built on Cardano, to grow COTI’s network of strategic partnerships prior to the launch of Djed. Cardax DEX will adopt Djed and provide trading pairs with Djed and its Reserve Coin,Shen, making them available to everyone.
It is well known that the stablecoin is a fundamental element in Defi, allowing users a smooth on-and-off ramp for their crypto assets. Djed will make this happen natively on the Cardano blockchain. Its arrival will provide more exciting trading and investing opportunities inside the Cardano ecosystem. Being a decentralized, crypto-backed algorithmic stablecoin, Djed is resistant to censorship and adds security and openness to the Cardano Defi ecosystem. We are happy to team up with Cardax who will help to expand the adoption of Djed and its Reserve Coin, giving users access to its ecosystem.
Yair Testa, Head of Business Development at COTI said: “ We are excited to be partnering with Cardax to integrate Djed to their platform. We see the partnership as a necessary means to grow the accessibility of Djed once it’s launched”.
Ryan Morrison, Founder & CEO at Cardax said: “We are very pleased to partner with COTI for the integration of Djed into our DEX. Stablecoins are an essential part of DeFi. So we are happy to provide a platform where Djed will be able to find liquidity and users will be able to trade a stablecoin native to the Cardano ecosystem”.
About Cardax
Cardax DEX is a non-custodial, decentralized exchange on the Cardano blockchain. By deploying the Streaming Merge protocol, Cardax DEX handles users’ orders in a truly decentralized, deterministic manner and processes them fairly and efficiently. Its first to market Extended Automated Market Maker (EAMM) model combines the benefits of both the order book and Automated Market Maker (AMM) models, and endeavors to rise to the challenges of an illiquid market. Cardax DEX is managed by Cardax B.V., a Dutch private company located in Amsterdam.
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