COTI and Liqwid Partner Up to Integrate Djed Into The Liqwid Platform
We are delighted to announce our partnership with Liqwid Finance, a lending and borrowing protocol for Cardano native tokens. The Liqwid protocol’s smart contracts allow users to supply liquidity and earn interest, use supplied assets as collateral to borrow from the protocol and stake in the protocol to earn additional yield denominated in the Liqwid DAO Token LQ. Integrating Djed into the Liqwid platform will enable the increase of liquidity and Djed’s participation in trading assets through liquidity pools, Liqwid pairs, and more.This is the next step in our plan to create strategic alliances with other Cardano DeFi projects leading up to the launch of Djed.
Dewayne Cameron, Liqwid CEO said: “On every network DeFi has reached a critical mass of users and TVL, stablecoins have played a major role in the success of scaling liquidity. Cardano DeFi will be taking a similar path and to that end we are thrilled to have Djed as the first algorithmic stablecoin as a supported asset for lending and borrowing in Liqwid”.
Djed is the first 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.
The Djed stablecoin is powered by COTI. Part of COTI’s role is to be in charge of developing the user interface system and to operate the integration between users and the smart contracts for the stablecoin. COTI will partner with enterprises, developers, and other parties who wish to mint both the stablecoin and the reserve coin used as part of the pegging algorithm.
Shahaf Bar-Geffen, COTI’s CEO said: “We are happy to collaborate with the Liqwid team in order to include Djed as a supported asset for their borrowing and lending platform. We see this partnership as a necessary means to ensure Djed’s utilization across the Cardano Defi ecosystem and look forward to working with the Liqwid team.”
Stay COTI!
About Liqwid Finance
Liqwid is an algorithmic and non-custodial interest rate protocol built on Cardano. Users can securely earn interest on deposits and borrow assets with ease while earning yield on ADA from multiple revenue streams. We are on a mission to develop capital efficient lending products built on open DeFi infrastructure accessible for anyone with a Cardano wallet.
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Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
