Cardano Sets New Milestone as First Stablecoin Launches

Cardano's launch of its first stablecoin marks a new milestone CardanoADA CardanoCommunity ADA $ADA $iUSD

The iUSD would reportedly be the first stablecoin to be launched on Cardano. The Alonzo hard fork saw, in September 2021, the implementation of smart contracts, which allowed the development of dApps on the Cardano blockchain.

According to the Indigo Protocol, the USD-based stablecoin, iUSD, will track the price of USD and be valued at $1. Likewise, synthetic assets in the context of those provided by Indigo refers to assets that give users price exposure to another asset without needing to own the particular asset. Still referred to as"assets," these synthetic assets are individually overcollateralized, according to the Indigo protocol.String of stablecoin launches expected in 2023

The year 2023 is setting up to be an eventful one for the Cardano blockchain amid upcoming stablecoin launches. Emurgo, the official commercial arm and founding entity of the Cardano blockchain, plans to launch USDA, a U.S.-pegged stablecoin, in early 2023.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cardano to launch new algorithmic stablecoin in 2023“Recent market events have proven again that we need a safe haven from volatility, and Djed will serve as this safe haven in the Cardano network,” said Shahaf Bar-Geffen, CEO of COTI
Read more »

This Cardano NFT Is up 80% in Volume After Snoop Dogg's New VideoClay Nation Cardano NFT collection is getting a lot of attention after the release of Champ Medici and Snoop Dogg's new music video ClayMates ChampMedici cardanoada cardanocommunity claymates cardanonft claynation iohk $clay $ada
Read more »

Cardano-based decentralized stablecoin Djed will hit mainnet in JanuaryCardano will have its first decentralized stablecoin in January, according to details emerging from the Cardano Summit.
Read more »

Cardano (ADA) Now Supported by Coinbase JapanCoinbase Japan has listed Cardano (ADA) just days after announcing support for Avalance (AVAX)
Read more »

Cardano Critic Says ADA Is Poised to “Plummet Down”An Input Output executive has slammed a critic who said that the ADA cryptocurrency was poised to plummet down
Read more »