{"id":181396,"date":"2023-10-26T14:05:56","date_gmt":"2023-10-26T08:35:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=181396"},"modified":"2023-10-26T14:05:56","modified_gmt":"2023-10-26T08:35:56","slug":"cardano-creator-unveils-whats-really-happening-with-djed-stablecoin-project-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cardano-creator-unveils-whats-really-happening-with-djed-stablecoin-project-crypto-news\/","title":{"rendered":"Cardano Creator Unveils What’s Really Happening With Djed Stablecoin Project – Crypto News"},"content":{"rendered":"

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Gamza Khanzadaev<\/p>\n

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Charles Hoskinson breaks silence on stablecoin project Djed shutdown rumors<\/p>\n<\/div>\n

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In a recent development,\u00a0Charles Hoskinson<\/a>, prominent blockchain entrepreneur and founder of Cardano, has shed light on the future of the Djed stablecoin project. Contrary to rumors of its discontinuation, Hoskinson confirmed that the\u00a0stablecoin<\/a> is not only here to stay but is about to undergo a major transformation.<\/p>\n

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No we aren’t dropping Djed. We are supercharging the team<\/p>\n

\u2014 Charles Hoskinson (@IOHK_Charles) October 24, 2023<\/a><\/p><\/blockquote><\/div>\n

Djed, a stablecoin developed by Input Output Global (IOG) and powered by COTI, has gained attention for its overcollateralized nature, utilizing Cardano’s native blockchain token,\u00a0ADA<\/a>, as a reserve. Djed’s circulating supply is backed by four times the number of its outstanding coins, providing an additional layer of security and stability for its users.<\/p>\n

Despite its promising beginnings, Djed faced some challenges, with its reserves dwindling to 356%, leading to a temporary halt in minting new tokens due to low activity.<\/p>\n

Changes at top<\/h2>\n

Charles Hoskinson’s statement may breathe new life into the Djed project. However, to further bolster its potential, IOG, the development company behind Cardano, has made strategic changes.<\/p>\n

Thus, W. Sean Ford has been appointed as the CEO, with David Markley taking the role of COO for a newly established spin-off company dedicated to the stablecoin sector.<\/p>\n

Hoskinson expressed his enthusiasm for this new venture, emphasizing the importance of stablecoins in the blockchain industry. He remarked, “The blockchain industry needs stablecoins to realize its mission and fully protect its values.”<\/p>\n

With this significant pivot and the backing of the\u00a0Cardano<\/a> ecosystem, Djed gets the chance to reestablish itself as a formidable player in the world of stablecoins, offering users a more secure and reliable financial instrument.<\/p>\n<\/div>\n

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About the author<\/p>\n


\n\"article<\/p>\n

Gamza Khanzadaev<\/p>\n

<\/a><\/p>\n

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Financial analyst, trader and crypto enthusiast.<\/p>\n

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.<\/p>\n

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Gamza Khanzadaev Charles Hoskinson breaks silence on stablecoin project Djed shutdown rumors In a recent development,\u00a0Charles Hoskinson, prominent blockchain entrepreneur and founder of Cardano, has shed light on the future of the Djed stablecoin project. Contrary to rumors of its discontinuation, Hoskinson confirmed that the\u00a0stablecoin is not only here to stay but is about to […]<\/p>\n","protected":false},"author":2,"featured_media":181397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-181396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=181396"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181396\/revisions"}],"predecessor-version":[{"id":181403,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181396\/revisions\/181403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/181397"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}