ADAX announced its partnership with COTI today. ADAX is a decentralized and non-custodial automated liquidity mechanism that supports trading inside the Cardano ecosystem.
COTI and ADAX are looking at methods to integrate the Djed stablecoin, Cardano’s first algorithmic stablecoin, with the ADAX DEX and controlled exchange (CEX). Djed’s integration with the ADAX DEX and CEX is going to boost liquidity and let Djed participate in trading assets via liquidity pools, ADAX pairings, and other means.
Djed is a smart contract-based algorithmic stablecoin ensuring price stability. Smart contracts are also being utilized to ensure that Djed will play a key part in Cardano’s decentralized finance (DeFi) transactions, which is something that ADAX is interested in.
As the issuer of DJED, COTI will be responsible for publishing the stable coin’s smart contracts as well as engaging with funds, companies, and anyone interested in minting both the stablecoin and the reserve coin utilized in the pegging process.
Dovydas Petkevičius, Chief Marketing Officer at ADAX, said the collaboration between COTI and ADAX, Djed’s issuer, has been long delayed, but it comes at the perfect time. The introduction of a stable coin for the Cardano ecosystem is an essential aspect of any Blockchain. They are ecstatic to join and to have the opportunity to deploy DJED on both our DEX and CEX platforms. This new relationship has the potential to go beyond these first stages, and we are excited to see what the future holds.
ADAX is decentralized along with a non-custodial automated liquidity mechanism that supports trading inside the Cardano ecosystem. There is no book order because it removes all intermediaries, and time-consuming procedures from the equation, giving users the freedom to trade without fear of censorship or losing ownership of their assets. Users have complete ownership over their tokens and are not obliged to hand up their private keys in order for their orders to be logged, as they would on a centralized exchange.
COTI Price Prediction
COTI addresses the issues by proposing a novel base layer protocol in the form of an acyclic graph-based ledger generated from transactions linked across time and employing cutting-edge trust-based algorithms. Bitcoin, Ethereum, and other digital currencies have a first-mover advantage, which boosts acceptance and market interest. Other applications, on the other hand, range from supply chain management to the preservation of decentralized and verified medical health data.
COTI’s market price is predicted to be a minimum of $0.55. According to this COTI price forecast, the maximum COTI price will be $0.67, and the average price will be $0.56.