In the recent Cardano Summit, Charles Hoskinson, leader of Cardano, announced the issuance of the first stablecoin dubbed Djed. The stablecoin will be issued on Cardano and aims to enhance the growth of its nascent ecosystem. There will be two versions of Djed: a minimal one, designed for a medium of exchange, and an extended one whose smart contract utilizes a continuous pricing model and dynamic fees to react faster to external events.