During the Rare Evo event, COTI presented the next evolution of DJED, the algorithmic stablecoin built on Cardano.
Born from the collaboration between COTI and IOG in 2023, DJED quickly established itself as one of the most resilient and reliable stablecoins in the sector.
Today, its transformation marks a turning point: DJED opens up to the open-source world, introduces privacy as a central element, and prepares to become the first private, multi-chain, and enterprise-ready stablecoin.
DJED Becomes Open Source: Innovation and Transparency
One of the pillars of this evolution is the open sourcing of key components of the DJED infrastructure, including the order API, the chain indexer, and the frontend. This strategic choice allows developers from all over the world to:
- Build custom front-ends for DJED
- Integrate the DJED functionality into wallet or dApp
- Manage backend services to interact securely with the stablecoin
According to IOG, “open sourcing DJED offers Cardano developers the opportunity to inspect, extend, and build directly on the protocol, with transparency, fostering rapid innovation and deeper trust.”
The system, designed with formal methods and thorough testing, has demonstrated reliability on the mainnet for over two and a half years.
COTI introduces Private DJED, the first private stablecoin, ready for businesses and designed to operate on multiple blockchains.
With the opening of the code, COTI also launches a “wrapped” version of DJED within its own blockchain infrastructure, making it an ideal asset for companies, institutions, and privacy-conscious users.
The privacy of Private DJED is guaranteed by advanced technology based on garbled circuits, which allows for fast, lightweight, and scalable transactions. This transforms DJED into a privacy-first financial primitive, capable of operating with speed and on a large scale.
The applications are numerous: from completely private DeFi, to supply chain finance, to enterprise markets and RWA (Real World Assets).
COTI will also launch a confidential version of DJED on Cardano, leveraging its own on-demand privacy layer. Users will thus be able to:
- Send and receive DJED privately
- Protect transaction details (amounts, wallet addresses) by making them visible only to selected parties
- Remain compliant with regulations without sacrificing on-chain privacy
The programmability of privacy will allow users to decide how, when, and with whom to share the sensitive data of their transactions.
Private DJED Expands on Midnight: The Multi-Chain Stablecoin
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COTI will bring a wrapped version of Private DJED also to Midnight, the privacy-focused sidechain developed for Cardano. Thanks to its confidential smart contracts, Midnight represents the ideal environment for applications that require advanced privacy.
The introduction of a stable, compliant, and privacy-preserving stablecoin strengthens the Midnight ecosystem, offering secure and shielded stablecoin transfers, perfect for institutions and users sensitive to privacy.
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Midnight is designed for interoperability and supports interaction with blockchains like Solana, XRP, and Avalanche. With Private DJED, COTI transforms the stablecoin from a single-chain solution to a protagonist of multi-chain private flows, creating a true hub for cross-chain stablecoin activity.
DJED will be the first stablecoin to offer native privacy on multiple chains and layers, laying the foundation for both open and private finance.
However, the scope of this innovation goes beyond the infrastructure: it is about ecosystem expansion. Cardano has about 1 million active users and hundreds of projects in development, while Midnight reaches an estimated audience of between 12 and 18 million users across eight different blockchains.
DJED positions itself as the first privacy stablecoin with real institutional and cross-chain potential, with COTI acting as a privacy layer that connects all these worlds.
With the opening of the code and the activation of privacy, DJED presents itself as the ideal solution both for developers who want to integrate a stablecoin into their dApps, and for users who demand financial privacy.
The infrastructure is ready for the next wave of adoption: the stablecoin becomes open source, privacy becomes programmable, and decentralized finance takes an evolutionary leap.
DJED is not just a stablecoin: it is the foundation for a new generation of financial services, where transparency, privacy, and interoperability coexist to offer security and freedom to users all over the world.
