$ADA #Cardano Stablecoin Proposal Cardano (ADA), as a company dedicated to blockchain technology, faces the issue of insufficient liquidity for stablecoins. Despite good on-chain metrics, the recent fluctuations in ADA prices have raised concerns among investors.

2. Djed Stablecoin

Djed is the highly anticipated algorithmic stablecoin on Cardano, designed to maintain its value close to 1 dollar through an algorithmic mechanism. It will hold a reserve of underlying currency and curb volatility by mining and destroying other stable assets. Djed has two versions: one serves as a medium of exchange, while the other uses dynamic rates to respond more quickly to external events.