In a definitive response to swirling rumors regarding the possible discontinuation of the Djed stablecoin, Charles Hoskinson, founder of Cardano, firmly stated that not only will the project continue, but it will also receive a significant upgrade. “No, we aren’t dropping Djed. We are supercharging the team,” he announced. Cardano Developer IOG Doubles Down On Djed Djed, an overcollateralized stablecoin by Input Output Global (IOG) and COTI has been under scrutiny due to its unique financial mechanism recently. Specifically, the stablecoin uses Cardano’s ADA token as a reserve, aiming to maintain a circulating supply backed by four times the number of its outstanding coins. While designed to provide enhanced security and stability for its users, recent metrics indicated the reserves had decreased to 356%, prompting a temporary suspension of minting new Djed tokens. Related Reading: Cardano Passes Crucial Update As ADA Price Prepares For 65% Rally In the midst of this, IOG issued a series of statements indicating structural changes and expansions. Hoskinson tweeted about the addition of Sean Ford, noting, “Glad to welcome my good frien ..
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