Blockchain

COTI Partners with Indigo to Integrate DJED, Cardano-Based Solution

COTI announced a partnership with Indigo to integrate Cardano-based Algorithmic stablecoin, DJED, to use it as collateral for the minting and trading iAssets.

COTI recently announced a new partnership with Indigo, a well-known algorithm autonomous synthesis protocol. The collaboration will see COTI working with the Cardano-based on-chain platform to integrate DJED. 

Moreover, the partnership will see Indigo users gaining access to DJED as collateral for trading and minting new iAssets. A stablecoin like DJED will add more stability to debt positions, also known as CDPs. Check out this COTI price prediction to know more.

The integration will remove volatility from one side of the transaction to enable a standard investment approach. It will facilitate a lower risk assessment for customers holding CDPs of one-half. As DJED’s issuer, COTI will take the accountability of releasing new smart contracts for the stablecoin.

In addition, it will also work as the front end for interacting with developers, funds, and enterprises. It will also help other users who aim to mint both the reserve and the stablecoin as part of the pegging mechanism.

Eric Coley, Indigo’s CEO, showed delight regarding the latest collaboration. According to Eric, Indigo promptly aims to develop one of the most robust and disruptive yet simple-to-use financial apps that possess the composability to enable focus on one section. The team aims to achieve the mission by continuously building upon its existing portfolio of integration partnerships. The latest collaboration with COTI is one such venture, and it will certainly play a role in boosting Cardano’s DeFi space as well.

Indigo’s vision to tokenize the real-life economy can add immense value in both RealFi and DeFi industries as it helps users access assets they generally cannot. The latest integration is one part of the development that will render the goal.

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