Cardano (ADA) stablecoin Djed and Shen (SHEN) have been added to this platform as lendable assets

Yuri Molkhan

The Cardano-based stablecoin and its reserve token are expanding their usefulness

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The official Twitter name of COTI Network, the issuer of Djed stablecoin developed on the Cardano chain by IOHK and COTI, has popularized Djed and its reserve token SHEN and expanded their usefulness.

These two coins were added by Aada Finance as lendingable assets and collateral as a result of the governance vote. Aada Finance is a decentralized lending protocol on Cardano through the strategy of NFT bonds.

In addition to borrowing and originating, Aada Finance offers trading, yield farming and hedging services to its clients.

Djed was launched on mainnet on January 31st after more than a year of hard work for development and launch preparation. On the same day, the minting of the reserve token SHEN was stopped as the platform had reached 800% security for Djed.

As U.Today recently reported, Djed has reached the important milestone of having 31,496,011 ADA coins in reserve assets.

Three days ago, a Djed-centric community account tweeted that the stablecoin’s overall reserve ratio was 515%. This included the portion of ADA mentioned above, 23,583,443 SHEN. The total circulating supply of Djed that day was 2,278,222 tokens.

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