Why Djed on your Blockchain?
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To serve as platforms for payments, remittances and other financial transactions, blockchains need stablecoins, which can satisfy the functions of money as means of exchange, unit of account and store of value.
Relying solely on centralized fiat-backed stablecoins may subject your blockchain to the bankruptcy of the operators of those stablecoins or to their decision to pull out of your blockchain, as exemplified by Circle's decision to pul l out of Tron.
For a blockchain's decentralized finance (DeFi) ecosystem to be truly decentralized, the stablecoins on which it depends must be decentralized as well.
Bridging stablecoins from other chains makes your blockchain dependent on other chains and subjects your blockchain's users to bridge risks. A stablecoin implemented on your blockchain is a much more secure alternative.
This is not a theoretical risk. Bridges are the weakest point in blockchain security and some bridge hacks have already proved to be catastrophic to emerging blockchains.
A stablecoin backed by your blockchain's native cryptocurrency brings extra utility to it. Besides being used for paying transaction fees and other uses, it becomes the reserve asset of your blockchain's stablecoin as well.
A stablecoin backed by your blockchain's own native cryptocurrency gives your users the possibility of protecting themselves against downturns in the price of your blockchain's cryptocurrency without having to leave your blockchain and completely sell your blockchain's cryptocurrency.
Among decentralized stablecoin protocols, Djed has that make it more desirable than other protocols.
A stablecoin based on the Djed stablecoin protocol may be branded in alignment with your blockchain's own brand.
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