Liqwid Now Offers Cardano’s Djed  Borrowing  and Lending

Liqwid Now Offers Cardano’s Djed Borrowing and Lending

Djed, the overcollateralized, dollar-pegged stablecoin from Cardano, is currently tradable on Liqwid. The opportunities for profit on Djed Holdings keep expanding.

The algorithmic stablecoin’s creators, COTI, revealed the development today by sharing a Twitter thread from Liqwid Labs. 

Users might also pledge qDjed, a stablecoin derivative, as security to borrow ADA, claims Liqwid Labs. 

The company declared it would keep an eye on the technical side to guarantee a positive user experience.

Liqwid described the market’s risk factors in further depth. A 75% loan-to-value (LTV) ratio is the highest allowed. 

It displays the maximum amount that consumers can borrow using their collateral. 

The liquidation threshold, set at 80%, means that it may be liquidated if the loan exceeds 80% of the collateral. The liquidation bonus is determined at 10% in the end.

To ensure the most significant experience, Liqwid Labs has recommended stake pool operators (SPOs) upgrade liquidation bots to the most recent version.

To put things in perspective, Liqwid is a well-known platform that provides decentralized lending and borrowing markets for the Cardano network with varied interest rates. 

Lenders would then get interested, while borrowers may use the assets to engage in other markets or trades and profit.

The Liqwid Djed market is the most recent in many opportunities for Djed owners to profit from their stablecoin investments. 

Staying the stablecoin for 15 days might earn you up to 50% annual percentage yield (APY) on Bitrue, a well-known Singaporean exchange.

Due in part to COTI’s efforts in forming relationships before launch, the Cardano stablecoin has acquired support from multiple platforms in just over a month since its launch at the end of January. 

According to data from CoinGecko, the stablecoin had a 24-hour volume of over $352k at publication.

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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.

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