Successful Hard Fork and Updated Fees for New Djed Stablecoin

Cardano’s (ADA) new stablecoin is powered by the decentralized finance (DeFi) system, which claims to have successfully upgraded its network.

The scalable layer-1 powering ADA’s impending Djed stablecoin, COTI Network, claims in a new blog post that the update transformed the blockchain into a multi-token network that now facilitates the development of private payment networks.

“The launch of the MultiDAG 2.0 protocol heralds the full transition of COTI from a single currency infrastructure to a multi-token network…

We believe COTI is uniquely positioned to serve enterprises, enabling them to launch their own Private Payment Network (PPN) which includes the issuance of CMD [COTI MultiDAG] branded payment tokens, issuance of CMD branded loyalty tokens, and more.”

Additionally, COTI is announcing a change to its user costs. The business claims that its deposit charge would be cut in half, its withdrawal fee will become dynamic rather than fixed, and its early withdrawal fee will not change.

Other costs indicated include a set multiplier fee that only applies to deposits that have been multiplied and a 1-5% liquidation fee that similarly only applies to deposits that have been multiplied.

The new pricing structure will go effective on January 15.

According to COTI, this change will hasten the acceptance of cryptocurrency as payment for products and services.

“This launch signifies a massive step for the crypto industry, as well as COTI, as the MultiDAG 2.0 will increase the growth of the widespread adoption of crypto payments for enterprises that are yet to adopt crypto payment solutions.”

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