Cardano's Defi TVL, or total value locked, has reached 393.98 million ADA, the highest since March 2022, according to DefiLlama data.
Since the launch of the overcollateralized Djed stablecoin in late January, interest in Cardano DeFi has increased. DJED is pegged to the dollar, backed by the base coin ADA as an independent asset, and it uses SHEN as its reserve coin.Djed requires between 400% and 800% in collateral value to be posted before it is issued to a user.
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