Rick McCracken Anticipates The Launch Of The Mainnet For Djed

Rick McCracken has forecasted a near launch date for Djed mainnet based on a finding from a recent stablecoin test of Cardano. Rick McCracken, the proprietor of the ADA staking pool DIGI and a Cardano advocate, shared his results and prediction through Twitter.

Recall that Djed’s official Twitter account sent an update on January 14 confirming that the stablecoin’s debut this month is on schedule. In addition, according to a statement made by COTI Network on January 5, the soon-to-be-launched stablecoin secured a new relationship with Yepple, Inc.

The alliance seeks to guarantee that Djed is used optimally inside the Cardano ecosystem. It would also facilitate the incorporation of Djed payments for NFTs. SHEN will function as the reserve currency of the stablecoin, preserving its price stability to provide the 400-800% collateral guarantee against price volatility.

The testnet version of the stablecoin was originally released in December 2022. The official website for Djed reported that its current value is 2.94 ADA and that there are 676,496 tokens in circulation.

McCracken’s prediction about the launch of the mainnet is consistent with the developers’ original statement. 

In addition to the introduction of the mainnet, the DjedPay payment platform will also be released at the same time. According to the official announcement on Twitter, DjedPay is a platform that will facilitate Djed-powered payments by businesses and organizations.

However, COTI is actively pursuing further collaborations to expand the algorithmic adoption of stablecoins.

Also Read: Ripple CEO Discusses Hinman Emails At Davos

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