Djed’s New Use Case Spotlight: AADA

Published in
2 min readMar 2


Since the successful launch of Djed, the protocol has been stable and has already become the 4th largest project on the Cardano network. Now, our main focus is to establish DJED’s adoption, and create more utility for it. In the coming weeks we will present to you various use cases for DJED and SHEN. This week we are happy to discuss the implementation of DJED on Aada finance.

Aada finance is a decentralized lending and borrowing protocol built on the Cardano blockchain. Aada has announced that DJED and SHEN are available as borrowable assets and collaterals on their platform.

We asked Lukas Armonas, Aada Finance CMO, several questions about the implementation, and this is what he had to say:

Please tell us a bit about Aada finance:
Aada Finance is a decentralized lending and borrowing protocol. The current V1 protocol version uses peer-to-peer primitives while introducing the NFT bond feature. The latter tokenizes each loan, enabling lenders and borrowers to transfer and/or trade their loan positions freely. In the upcoming V2 protocol version, Aada Finance will introduce pool-to-peer lending and borrowing.

What does the implementation of DJED and SHEN allow?
The DJED implementation allows users to collateralize their loans or borrow the stablecoin to long and short Cardano native tokens. On the other hand, using SHEN enables lenders and borrowers to HODL or take advantage of the holders’ incentives without owning the token.

How does it work?
Users can request or deposit liquidity by setting custom parameters like loan size and type, collateral size and type, loan duration, and interest.

What impact do you expect DJED and SHEN will have on the platform?
Adding DJED and SHEN as borrowable and collateral options on the platform have already improved the user experience. Now, users can safely borrow and lend without the risk of price fluctuations or liquidations.

This implementation, among others, will help grow the adoption of Djed throughout the entire Cardano ecosystem. Stay tuned for more updates.

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COTI is a DAG-based Layer 1, specifically designed for Enterprises. COTI’s Protocol is scalable, fast, private, inclusive, low cost and is optimized for finance