DJED is Cardano's Dollar-pegged stablecoin, coming very soon.
One strange psychological blindspot I find within crypto. many talk about the demise of fiat, and then they design a bunch of fiat-pegged crypto coins, thereby tethering to those fiat currencies they profess to wish to see die.
This has same (or similar) design to Djed
https://ergoplatform.org/en/blog/2021-09-22-sigusd-and-sigrsv-a-how-to-guide/
the stablecoin held firm even when the utility token tanked, which is a good sign.
Cardano [ADA] impacted in this manner following DJED’s launch
https://ambcrypto.com/cardano-ada-impacted-in-this-manner-following-djeds-launch/
UP
Cardano’s Djed stablecoin locks US$10 mln in reserves on its first day
https://forkast.news/headlines/cardanos-djed-stablecoin-reserves-first-day/
modest.
analysts still stress testing how the peg could break ;-)
DJED wobbles
https://u.today/cardano-based-djed-stablecoin-falls-below-1-heres-why
ah, usual old problem - "liquidity", which really means collateral.
Thing is, such a group that has published so much research, they really must have calculated the relationship between stability and liquidity. No!?