Cardano has joined forces with COTI, a Layer 1 protocol based on DAG, to introduce a new algorithmic stablecoin "Djed". This stablecoin is expected to be supported by extra security in the related vein held in a reserve, according to a statement from the project. Reportedly, Djed will be supported by Cardano ($ADA), tied to the US Dollar, and will utilize $SHEN cryptocurrency as its reserve token.