DJED Testnet Now Live
This is actually big news for CARDANO and COTI respectively as it means the projects they have been working on are that much closer to going live. For any of you that don't know DJED is the stablecoin for the CARDANO DeFi eco system supplied and serviced by COTI.
This was one of the many reasons why I got involved with COTI over a year ago as I see value in the crypto projects that have proper use cases by providing services. I am gambling on the fact that they will rise due to the need and demand which will make them sustainable and grow accordingly.
CARDANO does over 100 000 transactions daily on their blockchain so how many transactions will they do on DeFi? Every transaction will be using the stablecoin DJED for fees like BSC uses BNB. All of these transactions will filter back into the COTI treasury as rewards increasing the APR received by the investors who are staking.
One doesn't have to be a rocket scientist to see how this is going to explode. last month CARDANO had over $1.1 Billion in TVL which is still nothing to where things could end up as investors have been patiently waiting for CARDANO to join the party.
I must admit I don't hold much CARDANO and all my eggs are in the COTI basket on this one. the idea of holding a load of a few than a few of a lot is my strategy going forward. COTI increasing in price could be lifechanging like any price movement on any cryptocurrency you hold as long as you have enough of them.
If we look at the other chains and especially BSC it kind of gives us an insight of where CARDANO could go and the number of transactions required will go through the roof. This ultimately means there will be a higher APR in the COTI Treasury as the rewards will increase.
Currently COTI generates around $25 million per month as a service provider for various businesses processing their payments. That figure is nothing compared to what is going to be generated once CARDANO DeFI start using DJED. I don't see the investment in COTI as a risk as everything points to a massive upsurge in demand as DeFi is the future of crypto.
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Exciting stuff. I still haven't seen what the road map is for the US, but I know a lot of that is beyond their control. It sucks just watching your money sit there when it could be working for you though.
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