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Successful COTI hardfork — Cardano's new stablecoin

Following a successful hard fork, COTI moves to a multi-token network.

By Finst News
• 2 min read
Successful COTI hardfork — Cardano's new stablecoin

Following a successful hard fork, COTI moves to a multi-token network. What does this mean for the project? According to a recent blog post from the Layer 1 platform, the update transformed the blockchain into a multi-token network.

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"With the launch of MultiDAG 2.0, COTI has become a protocol where multiple coins are possible."

The update also introduces a new fee model that goes into effect on January 15. With this change, the project hopes to give crypto assets a boost as a medium of exchange for goods and services. "This launch is a big step for the crypto industry and for COTI as well, since MultiDAG 2.0 will drive the growth of large-scale crypto payments adoption for companies that have not yet switched to crypto payment solutions."

The DeFi protocol's infrastructure can also be used to store custom stablecoins. For example, Cardano's new algorithmic stablecoin (Djed) will be built on the network."

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