Cardano to enable new DeFi stablecoin with Coti
Coti previously partnered with Cardano’s stablecoin hub Ardana to bring decentralized stablecoin payments to AdaPay. A new stablecoin is arriving on the Cardano blockchain to provide a tool for decentralized finance (DeFi) operations and avoid transaction fees. Cardano’s payment gateway provider Coti will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network, Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sept. 26 at the Cardano Summit.
The new stablecoin will be based on algorithmic design, using smart contracts to ensure price stability and providing an instrument for DeFi transactions. The stablecoin is designed for paying transaction fees on the Cardano network in order to avoid “volatile and exorbitant gas fees” and make transaction costs “more predictable.”
According to the Djed’s research paper released in August, its stablecoin protocol will behave like an “autonomous bank that buys and sells stablecoins for a price in a range that is pegged to a target price.” The stablecoin will operate by maintaining a reserve of base coins, while minting and burning various other stable assets and reserve coins.
According to Hoskinson, the Djed stablecoin could be a game-changer in the crypto industry as it appeals to an “entirely new audience at a time when the industry is already experiencing astronomical growth.” The news comes shortly after Coti partnered with Cardano’s stablecoin hub Ardana to bring decentralized stablecoin payments to AdaPay, a Cardano (ADA) payment gateway supporting over 30 fiat currencies.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 65.2% | 76 | $61 260.18 | -3.02% | -0.54% | $1 154 847 886 762 |  |
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| 2 |  ETH |
Ethereum predictions | 72% | 57 | $4 024.37 | -3.05% | 4.78% | $475 029 097 178 |  |
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| 3 |  BNB |
Binance Coin predictions | 72% | 60 | $481.66 | 0.28% | 1.80% | $80 341 547 819 |  |
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| 4 |  ADA |
Cardano predictions | 92% | 12 | $2.16 | -1.14% | -2.37% | $70 995 337 627 |  |
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| 5 |  USDT |
Tether predictions | 95.6% | 1 | $1.000149 | 0% | 0.08% | $69 584 487 051 |  |
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| 6 |  SOL |
Solana predictions | 72% | 55 | $202.97 | 1.04% | 28.02% | $61 059 730 630 |  |
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| 7 |  XRP |
XRP predictions | 76.8% | 50 | $1.093272 | -1.25% | -3.76% | $51 325 127 678 |  |
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| 8 |  DOT |
Polkadot predictions | 63.6% | 79 | $44.49 | -0.97% | 2.43% | $43 937 978 522 |  |
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| 9 |  DOGE |
Dogecoin predictions | 74% | 56 | $0.246292 | 0.45% | 4.22% | $32 461 382 763 |  |
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| 10 |  USDC |
USD Coin predictions | 94.4% | 1 | $1.000400 | 0.05% | 0.08% | $32 427 441 530 |  |
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| 11 |  LUNA |
Terra predictions | 65.6% | 65 | $42.91 | 3.36% | 16.19% | $17 231 391 175 |  |
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| 12 |  UNI |
UniSwap predictions | 72.4% | 47 | $25.71 | -3.55% | -0.58% | $15 728 216 583 |  |
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| 13 |  AVAX |
Avalanche predictions | 70.4% | 65 | $67.18 | 4.25% | 18.98% | $14 799 377 874 |  |
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| 14 |  WBTC |
Wrapped Bitcoin predictions | 66% | 75 | $61 271.65 | -3.09% | -0.48% | $13 546 735 109 |  |
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| 15 |  LINK |
Chainlink predictions | 72% | 50 | $28.91 | -1.77% | 6.80% | $13 326 500 471 |  |
