Cardano DEXs Will Support Djed Stablecoin Liquidity Pools Starting Next Week

The upcoming Djed stablecoin and its Shen governance token will list on Cardano-based decentralized exchanges (DEXs) MuesliSwapTeam and MinSwapDEX after their issuance next week. By shauryamalwa

The upcoming Djed protocol's stablecoin, djed, and its Shen governance token will list on Cardano-based decentralized exchanges MuesliSwap and MinSwap after their issuance next week, as per tweets from the two DEXs., MinSwap is currently the largest Cardano DEX, locking $30 million in tokens while MuesliSwap locks up a relatively smaller $6.5 million worth of liquidity.

DEXs rely on smart contracts to match trades between users anonymously and without third parties. These users supply liquidity to trading pools, earning rewards in the form of tokens. Shen, the reserve token meant to support djed's stability, would receive extra rewards when holders of Cardano's ADA cryptocurrency stake their coins to mint djed stablecoins, which may fuel liquidity for the upstart ecosystem.

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