- Three significant advancements are now being made that signify DJED’s evolution into a new kind of digital asset.
- Since its launch, DJED has continuously maintained its peg, beating its competitors and becoming the most reliable stablecoin available.
- In order to enable developers and communities to build upon the Djed infrastructure, COTI is now making essential components (order API, chain indexer, and frontend) open-source.
The next evolution of DJED, the algorithmic stablecoin based on Cardano, was proudly introduced by COTI at Rare Evo. Developed in 2023 by COTI and IOG, DJED has established itself as one of the industry’s most robust stablecoins.
Three significant advancements are now being made that signify DJED’s evolution into a new kind of digital asset, bringing with it a new class of use cases and solidifying its long-term status as a Web3 core infrastructure.
DJED Gets Powerful Open Source Features
Since its launch, DJED has continuously maintained its peg, beating its competitors and becoming the most reliable stablecoin available. In order to enable developers and communities to build upon the Djed infrastructure, COTI is now making essential components (order API, chain indexer, and frontend) open-source.
Developers will be able to:
- Build custom frontends for DJED
- Integrate DJED functionality into wallets or dApps
- Run backend services to interact securely with it
IOG stated:
“Open sourcing Djed gives Cardano developers the ability to inspect, extend, and build directly on the protocol, with transparency, driving faster innovation and deeper trust. This is a complex system engineered for uniquely high assurance: it’s grounded in formal methods, backed by very thorough testing, and has been running reliably on mainnet for 2.5 years.”
Private DJED: Cardano, COTI, and Midnight’s Privacy-Preserving Stablecoin
The first enterprise-ready private stablecoin to deploy across several chains, Private DJED, will also be introduced by COTI.
DJED On COTI
COTI will integrate a wrapped version of DJED into its own blockchain infrastructure as a result of DJED’s open source. For businesses, organizations, and people that value their privacy, COTI is a game-changer and a strong home for Private DJED. COTI’s features allow Private DJED to be utilized in more intricate dApps and DeFi flows, in addition to allowing users to transmit, receive, and interact with it in a private manner.
Fully private DeFi, supply chain finance, enterprise, RWA markets, and several other use cases may benefit from private DJED. Moreover, DJED will become a privacy-first financial primitive that can function quickly and efficiently because to COTI’s privacy layer, which is driven by garbled circuits and offers fast, light, and scalable privacy.
Private DJED on Cardano (via COTI’s privacy layer)
Additionally, COTI will use its privacy-on-demand capabilities to provide a confidential version of DJED on Cardano. This allows users to stay on the native Cardano chain while yet having access to COTI’s extensive privacy features.
DJED’s native stable asset infrastructure is now located on Cardano, however Private DJED will make sure that this base is prepared for the next adoption wave. Users will be able to choose when, how, and with whom sensitive transaction data is disclosed thanks to COTI’s programmable privacy.
Users will be able to:
- Privately send and receive DJED
- Make sure that only certain parties are aware of transaction data, such as amounts and wallet addresses.
- Maintain on-chain privacy while being compliant.
Private DJED Goes Multi-Chain on Midnight
A wrapped version of Private DJED, the privacy-focused sidechain created for Cardano, will also be made available on Midnight by COTI. Midnight is a excellent for privacy-first apps because of its private smart contracts. COTI may assist the Midnight ecosystem in providing its users with safe, protected stablecoin transfers, which are perfect for organizations, businesses, and privacy-conscious consumers, by offering a reliable, compliant, and private asset.
Interoperability is another feature of Midnight’s architecture. Being a specifically designed sidechain within the Cardano ecosystem, it facilitates communication with many other blockchains, including Solana, XRP, and Avalanche. In addition to enabling private stablecoin flows via Midnights’ multi-chain user base and establishing a center for cross-chain stablecoin activities, COTI is transforming DJED from a single-chain stablecoin through the implementation of Private DJED.
Why It Matters
The basis for both open and private finance will be provided by DJED, the first stablecoin with native privacy support across multiple chains and privacy layers. However, this goes beyond infrastructure; ecosystem growth is also involved.
Midnight has an even larger COTI Unveils Next-Gen DJED Stablecoin With Privacy and Multi-Chain Supportuser base of an estimated 12–18 million users from 8 separate blockchains, while Cardano boasts an estimated 1 million active users and hundreds of companies growing on it. The privacy layer that links them all is COTI, and DJED is maybe the first privacy stablecoin with significant institutional and cross-chain potential.
Private, programmable, and open is the future
DJED can help developers who want to include a stablecoin into their dApp or users who are concerned about their financial privacy. The code is starting to open. The shield is coming into action. The Future Is Here Now.
