Cardano Stablecoin DJED and Reserve Coin SHEN Set to Launch Next Week

More Than 1.85M Cardano-backed Djed Stablecoin Minted and 40K Burned in Under Two Days

Yesterday, Minswap tweeted that Djed would be listed under the trading pair ADA/ DJED. Along with Djed, Minswap also revealed that SHEN, the protocol backup token, would be traded on the decentralized exchange.

DJED and SHEN would be listed, although Minswap would not give a specific date. However, the decentralized exchange expects to list the tokens the following week. Like Djed, SHEN will only have one trading pair, ADA/SHEN.

When trading officially starts after the announcement, Minswap users can exchange their ADA tokens for DJED and SHEN.

REad more: Speculations to Integrate Cardano Stable Coin Djed On Cardano DEX

SHEN and DJED Listed on Bitrue

The announcement came shortly after a major Singaporean cryptocurrency exchange Bitrue revealed that it would soon offer Djed and SHEN for trading.

The exchange also stated that it would initiate DJED and SHEN staking campaigns and other operations shortly after starting trading for the assets.

As part of the exchange’s support for the Cardano ecosystem, Bitrue has decided to list SHEN and DJED. The exchange claimed that since 2018, it had had a good rapport with Cardano.

DJED & SHEN to Launch Next Week

Notably, the test networks for DJED and SHEN are still active, making it difficult to trade the assets on Bitrue and Minswap. As Minswap has announced, DJED and SHEN will likely be introduced on the main network before the end of next week.

Cardano’s stablecoin is expected to emerge on the main network next week, COTI further confirmed today, as there is still one technical hurdle to surmount.

Top cryptocurrency projects like WingRider, Iagon, Trading Trent, etc., are all interested in DJED despite its lack of availability on the main network. Earlier this month, COTI announced a collaboration with blockchain company Yepple to simplify NFT payments on Cardano using the stablecoin.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :