COTI to issue multiple tokens in 2022, including Cardano’s stablecoin, Djed
The platform offers a decentralized, high-performance cryptocurrency ecosystem optimized for creating digital payment networks and stable coins.
COTI has announced the 2022 roadmap for the “ultimate layer 1 for payments” as the fintech wants to empower organizations to build their own payment solution and digitize any currency to save time and money.
The platform offers a decentralized, high-performance cryptocurrency ecosystem optimized for creating digital payment networks and stable coins.
COTI is building from the ground up, from Layer 1 to Apps, to serve as a fully encompassing ecosystem. As to Layer 1, the firm says it covers the unique needs of consumer-merchant payments with its DAG-based Trustchain. Wallets, banking solutions, and processing tools will follow.
MultiDAG 2.0 layer: Ready, set, go
COTI’s roadmap includes the issuance of more tokens on top of its Trustchain, using the unique MultiDAG 2.0 layer, thus ensuring great scalability, high throughput, low cost and off the shelf tools for payments like COTI Pay Business”, according to the Israeli firm registered in Gibraltar.
The platform is set to launch multiple tokens as soon as MultiDAG 2.0 is on mainnet. COTI will grow from a one coin network to a Layer 1 used by consumers and merchants around the world.
2022 will also feature the issuance of Cardano’s formal algorithmic stablecoin, Djed, which is a highly expected event widely integrated by DEXs, wallets and dApps on top of Cardano.
In December 2021, AdaSwap partnered with COTI to ensure the integration of the Djed stablecoin into the AdaSwap DEX.
The issuance of Djed is a big deal. AdaSwap, for instance, is building a native, gamified DEX on the Cardano network that enables the crypto community to easily swap Cardano-based tokens in seconds with low fees, something that is not possible right now on Ethereum based DEXs.
As part of that project, it’s also creating a native Cardano NFT marketplace plus fixed, long-term, and high-yield liquidity pools that will allow token holders to stake, buy and sell NFTs and earn interest on their investments.
AdaSwap will explore listing opportunities for Djed on the AdaSwap DEX and examine ways in which it can utilize the algorithmic-based stablecoin network Djed is building.
Djed is an algorithmic, Cardano-based stablecoin protocol that behaves like an autonomous bank, buying and selling for a price in a range that’s pegged to a target price.
Through these smart contract-based mechanisms, Djed ensures price stabilization, making it especially promising in decentralized finance operations. The algorithm works by operating a reserve base of coins, minting and burning tokens as necessary to ensure price stability.
