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9 min read
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Today, a stablecoin called Djed launched on Cardano1. Djed is based on research that IOG published on safe algorithmic stablecoins. Stablecoins are an important part of the DeFi ecosystem, because they’re designed to maintain a stable price relative to USD (or another underlying asset). How it does this can be confusing, so this post will explain how Djed works, and allow you to explore the protocol before you try it for real.