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Minswap to List Cardano Stablecoin Djed and its Reserve Coin SHEN


thecryptobasic.com 25 January 2023 09:10, UTC
Reading time: ~2 m

Cardano-based multi-pool decentralized exchange Minswap has announced plans to list Djed, Cardano’s algorithmic stablecoin.

In a tweet yesterday, Minswap said Djed would be listed under the trading pair – ADA/ DJED. In addition to Djed, Minswap also announced that SHEN, the protocol backup token, will be available for trading on the decentralized exchange.

Minswap did not specify the exact date DJED and SHEN would be listed. However, the decentralized exchange noted that the tokens would be listed next week. Like Djed, SHEN will also be available in one trading pair – ADA / SHEN.

🗓️ Coming Next Week on The Minswap DEX 👀 pic.twitter.com/qnD6ZA9yCf

— Minswap Labs (@MinswapDEX) January 24, 2023

Following the announcement, Minswap users can swap their ADA tokens for DJED and SHEN when trading commences officially.

Bitrue Lists SHEN and DJED

The announcement comes a few hours after major Singaporean cryptocurrency exchange Bitrue announced that it would soon make Djed and SHEN available for trading.

The exchange added that it would also roll out DJED and SHEN staking and other campaigns shortly after it opens trading for the assets.

Bitrue’s move to list SHEN and DJED is part of the exchange’s support for the Cardano ecosystem. The exchange said it has maintained a positive relationship with Cardano since 2018.

DJED & SHEN to Launch Next Week

It is noteworthy that both DJED and SHEN are still operating in the test networks, which makes it impossible to trade the assets on Bitrue and Minswap. However, following Minswap’s announcement, it is evident that the much-anticipated launch of DJED and SHEN on the main network will happen before the end of next week.

COTI also confirmed today the launch of Cardano’s stablecoin on the main network is scheduled for next week as one technical hurdle is left to overcome before launch.

Although DJED is not yet available on the main network, the stablecoin has attracted the interest of top crypto projects, including WingRider, Iagon, Trading Trent, etc. In addition, earlier this month, COTI announced a partnership with blockchain entity Yepple in a bid to facilitate NFT payments on Cardano using the stablecoin.

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