COTI is Partnering with Indigo to Integrate DJED, Cardano-based Algorithmic Stablecoin

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COTI

Jan 24 · 2 min read

We are excited to announce a partnership with Indigo- an algorithmic, autonomous synthetics protocol for on-chain price exposure to real-world assets, built on Cardano. Through this partnership, Indigo users will be able to use DJED as collateral to mint and trade new iAssets. Using a stablecoin such as DJED brings more stability to collateralized debt positions aka CDPs. Removing volatility from one side of the pair offers a more traditional investment approach and a lower risk assessment for users holding CDPs anchored on one-half by stablecoin.

By being the issuer of DJED, COTI will assume the responsibility of publishing the smart contracts for the stablecoin and of being the front end for engaging with funds, enterprises, developers, and others who wish to mint both the stablecoin and the reserve coin used as part of the pegging algorithm.

“At Indigo we aim to build one of the most disruptive and robust, yet simplified, financial applications with composability as a key area of focus in our vision. We further that mission and continue to build upon our rich portfolio of integration partnerships with COTI and believe that DJED will play a vital role in Cardano’s Defi landscape.” Eric Coley, CEO of Indigo

About Indigo

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Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

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