header banner
Default

See the details of the big code upgrade that Cardano Djed stablecoin received


Cardano Djed Stablecoin Receives Big Code Upgrade: Details

Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Djed, the overcollateralized stablecoin on Cardano, has received a whole new upgrade. COTI, the issuer of the Djed stablecoin, announced in a tweet that it has performed an upgrade to Djed's code as part of its continuous improvement process.

This update comes with a host of process flow optimizations, a lowering of the minimum mint and burn requirements for DJED and SHEN, as well as a reduction in operational fees.

The Djed protocol's chain index, which is used to compute prices and quote transaction costs while taking into account its current state and any pending orders, has been upgraded.

The upgraded version achieves improvement in the robustness and scalability of the chain index. Also, errors caused by invalid exchange rates will be reduced, thus improving performance.

Pub User, an application that assists with producing orders and reflecting the current state of each participating wallet that owns DJED or Shen, has also received an upgrade. The application has been improved, providing an increase in responsiveness, performance and scalability.

Djed protocol to incentivize more users

VIDEO: USDC on Cardano: Bold Move or Sellout?
Dapp Central

Djed stablecoin was launched at the end of January and is operating perfectly as intended. Djed's protocol has never lost its peg in nearly eight months since its inception, despite various occurrences, in which some stablecoins lost their peg.

Aside from the modifications stated above, which optimized the performance of the platform, COTI stated that the final update aims to incentivize more users to participate in the protocol.

To achieve this, it announces some changes to operational fees and the minimum amounts of DJED or SHEN that can be minted or burned.

The updated conditions are as follows: the new minimum minting and burning amounts for SHEN and DJED, respectively, are 200 SHEN and 200 DJED. The reduced operator fee is now five ADA.

Sources


Article information

Author: Janice James

Last Updated: 1704556082

Views: 1030

Rating: 4.4 / 5 (55 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Janice James

Birthday: 1937-05-25

Address: 87435 Jennifer Plains Suite 610, Bensonburgh, KS 89928

Phone: +3693757391400412

Job: Insurance Agent

Hobby: Photography, Chocolate Making, Skydiving, Playing Piano, Backpacking, Bird Watching, Dancing

Introduction: My name is Janice James, I am a unguarded, valuable, resolved, striking, forthright, audacious, unyielding person who loves writing and wants to share my knowledge and understanding with you.