In the ever-evolving world of cryptocurrencies, innovation and adaptation are key to success. COTI, the issuer of Djed, the overcollateralized stablecoin on Cardano, has recently unveiled a series of upgrades aimed at enhancing the platform's performance and accessibility. This blog explores these significant developments and their potential impact on the crypto ecosystem.
Djed Stablecoin and Its Remarkable Journey
Djed stablecoin, introduced in January, has garnered attention for its steadfast peg to its underlying assets, even in the face of market turbulence. In nearly eight months of operation, it has proven its resilience.
Stability in a Volatile Market
One of Djed's standout features has been its ability to maintain its peg, unlike some other stablecoins that have faltered during periods of market volatility.
Djed's Recent Upgrade – A Step Forward
COTI, the driving force behind Djed, has taken a proactive approach to ensure the platform's continuous improvement. The latest upgrade promises several enhancements, making Djed even more attractive to users.
Streamlined Processes for a Seamless Experience
The upgrade introduces a host of process flow optimizations, streamlining the user experience and reducing operational fees.
Lowered Barriers to Entry
COTI has lowered the minimum mint and burn requirements for DJED and SHEN, making it more accessible for users to participate in the Djed ecosystem.
Improved Chain Index for Enhanced Performance
The chain index, a vital component for price computation and transaction cost quoting, has been upgraded. This enhancement boosts the platform's robustness and scalability while reducing errors caused by invalid exchange rates.
Ads Pub User Application - Responsive and Scalable
Ads Pub User, an application facilitating order production and wallet status tracking, has also received an upgrade. The improved application promises increased responsiveness, performance, and scalability.
Incentivizing User Participation
Beyond performance enhancements, COTI aims to attract more users to the Djed protocol through changes in operational fees and minimum minting and burning requirements.
New Minimum Requirements and Reduced Operator Fee
The updated conditions now set the minimum minting and burning amounts for SHEN and DJED at 200, while the operator fee has been reduced to five ADA.
