AdaSwap Partners With COTI, Issuer of Djed Stablecoin

The Cardano network is one of the most solid projects in the industry that continues to gain support from different crypto projects in the space. This time, AdaSwap, an ecosystem builder that aims to be the first to establish a decentralized exchange on the Cardano network, joins hands with COTI, the developer of Djed, a Cardano-based stablecoin that explore ways on how its system can integrate the AdaSwap DEX.

The partnership will enable AdaSwap to find listing opportunities for Djed on the AdaSwap DEX. Also, it plans to examine ways on how it can use the algorithmic-based stablecoin network Djed is building. Lennon Qualmann, CEO of AdaSwap explained,

As a Cardano believer, I love seeing COTI’s strong involvement in the Cardano space, it shows the potential being created for the Cardano ecosystem by innovative participation.

AdaSwap is creating a native, gamified DEX for the Cardano network. This technology will enable the crypto community to seamlessly swap Cardano-based tokens in seconds with lesser fees.

What’s more, AdaSwap is also building a Cardano NFT marketplace with fixed, long term and high yield liquidity pools. These pools will enable token holders to stake, buy, and sell NFTs and earn interest on their investments. 

On the other hand, the Djed crypto seeks to overcome the challenges that the crypto space is currently facing. These challenges include fees, latency, global inclusion and risk in centralized finance, and the issues of clogging, fees, and complexity in DeFi.

The COTI network will play a very important role in solving these problems using its proprietary consensus algorithm based on machine learning, called Trustchain. It lives on a new, multi DAG (directed acyclic graph) data structure that’s scalable, fast, private, inclusive, low-cost and optimized for finance.

Moreover, COTI is responsible for publishing Djed smart contracts and serving as the front-end for funds, enterprises, developers, and others who wish to mint Djed and the reserve coins used as part of its pegging algorithm. Furthermore, AdaSwap platform users will be incentivized with rewards to provide liquidity through Djed trading pairs.