COTI Partners With Iagon
COTI partners with Iagon to incorporate Djed into their ecosystem. Iagon aims to provide a marketplace for decentralized computing resources, the future of digital utilities.
Currently, Iagon is working on launching the decentralized storage platform, and Djed will be a key component of the whole trading process. This collaboration will result in implementing Djed as a storage exchange payment means on Iagon’s shared storage economy platform.
Furthermore, Djed was developed by Input Output Global and is powered by COTI. It is a stablecoin relying on smart contracts and its reserve coin to maintain a stable price. In addition, the coin’s creators intended to power the Cardano’s DeFi ecosystem.
The project has undergone thorough testing on the Testnet. Once the verification is complete, an external security audit, COTI plans to deploy Djed on the Mainnet.
“Our partnership with COTI is essential to our platform. Djed will play a key role in our ecosystem because its low volatility makes it a reliable currency, perfect for down payments.” — Dr. Navjit Dhaliwal, Iagon’s CEO
This partnership, along with some of the previous ones we have announced, will ensure the proper and seamless utilization of $Djed and create an increased use case for it across multiple platforms.
ABOUT Iagon
Iagon’s mission is to revolutionize the cloud by developing storage and processing platforms where anyone can profit from shared resources. The whole value proposition circles back to the potential of blockchain technology by letting device owners join the storage and processing power grids to create a completely decentralized data cloud and supercomputer.
ABOUT Djed
Djed is the first overcollateralized algorithmic stablecoin, built on Cardano. It uses smart contracts to ensure price stabilization, and the usefulness of the coin for decentralized finance (DeFi) operations. It operates by keeping a reserve of base coins, and minting and burning stablecoins and reserve coins.
ABOUT COTI Network
COTI is a DAG-based layer 1, specifically designed for enterprises. It also meets the challenges of both centralized finance (fees, latency, global inclusion, and risk) and Decentralized Finance (fees, clogging, and complexity). It also introduces a new type of DAG-based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and optimized for finance.
