Djed Stablecoin by COTI Bridged from Cardano to BNB via ChainPort

We are pleased to announce that ChainPort has successfully bridged DJED to BNB. DJED is Cardano's native overcollateralized stablecoin, developed by IOG and powered by COTI. Bridging DJED is a significant milestone for both ChainPort and COTI. The ChainPort team is thrilled to work together to bring greater value and utility to the Cardano and BNB ecosystems.

COTI is a leading blockchain ecosystem working to bring greater accessibility and efficiency to digital payments. Their innovative technology stack includes solutions for digital currencies, merchant processing, and more, all designed to provide a seamless and intuitive user experience. With the launch of Djed, COTI is taking another step forward in its mission to revolutionize the world of digital finance.

DJED is a stablecoin pegged to the US dollar and is designed to provide a low-volatility asset for use in DeFi applications and financial transactions. It is the first stablecoin to be bridged to BNB via ChainPort, and it will play a vital role in the future of the BNB ecosystem. Behind the scenes, DJED is an overcollateralized stablecoin backed by ADA and uses SHEN as a reserve coin.

The successful bridging of DJED is a significant achievement for both ChainPort and COTI. Both teams are excited to see the new possibilities it will unlock for the BNB ecosystem. Following this collaboration, DJED will be listed on the popular BNB-based DEX PancakeSwap.

Stablecoins like DJED offer a reliable and low-volatility alternative to traditional cryptocurrencies. This low volatility makes them an ideal asset for DeFi applications and other financial transactions. By bridging DJED to BNB, ChainPort is helping to bring greater liquidity and flexibility to the Cardano ecosystem.

ChainPort is thrilled to be working with COTI to bring DJED to the BNB ecosystem, and we look forward to continuing to explore new ways to expand the reach and impact of this exciting new stablecoin.

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