Cryptocurrency Djed (DJED)
The price for Djed (DJED) cryptocurrency is currently 0.00 $ (15 min delay),
daily range of currency change is 0.00 - 0.00 .
Last 24 hours news: trading volume -
0.00 $, price variance
0%
.
The highest trading volume belongs to the pair 8DB269C3EC630E06AE29F74BC39EDD1F87C819F1056206E879A1CD61446A65644D6963726F555344/ADA at the Minswap exchange
Project Website - https://djed.xyz/
Explorer of transactions - https://cardanoscan.io/token/8db269c3ec630e06ae29f74bc39edd1f87c819f1056206e879a1cd61446a65644d6963726f555344
Twitter Account - https://twitter.com/COTInetwork
Chart Djed (DJED)
| Current price Djed (djed) | 0.00 $ |
| Market Capitalization | 3.99M $ |
| Trading Volume last 24h | 110.31K $ |
| Minimum exchange rate (24h) | 0.98 $ |
| Maximum exchange rate (24h) | 1.01 $ |
| Market cap rank | № 1924 |
| Absolute maximum | 1.13 $ |
| Absolute minimum | 0.91 $ |
Djed Quotes
|
#
|
Exchange
|
Pair
|
Price
|
Spread
|
Volume
|
Last traded
|
|---|---|---|---|---|---|---|
| 1 | 8DB269C3EC630E06AE29F74BC39EDD1F87C819F1056206E879A1CD61446A65644D6963726F555344/ADA |
1.01 $
1.006$
|
0% | 69.03K $ | 2024-05-13 20:21:58 | |
| 2 | DJED/USDT |
1.01 $
1.01$
|
1.53% | 5.71K $ | 2024-05-13 18:58:15 | |
| 3 | 8DB269C3EC630E06AE29F74BC39EDD1F87C819F1056206E879A1CD61446A65644D6963726F555344/ADA |
1.01 $
1.008$
|
0% | 5.54K $ | 2024-05-13 20:42:46 |
What is Djed (DJED)
## What Is Djed (DJED)?
Djed is the first over collateralized crypto-backed algorithmic [stablecoin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) contract on the Cardano network. It operates by keeping a reserve of base coins (ADA), and minting and burning stablecoins and reserve coins. The contract maintains the peg of stablecoins to a target price by buying and selling stablecoins, using the reserve, and charging fees, which accumulate in the reserve. The ultimate beneficiaries of this revenue stream are holders of reserve coins, who boost the reserve with funds while assuming the risk of price fluctuation.
### How did Djed manage to keep its peg?
Djed’s algorithm is based on a collateral ratio in the range of 400%-800% for $Djed and $Shen. ADA prices fluctuations are offset by Shen, covering shortfalls and guaranteeing the collateralization rate.
The ADA reserve pool is not managed by market makers, but by users who mint the $Shen reserve coin and add ADA to the pool. This provides a decentralized aspect to the $Djed mechanism. $Shen holders are incentivized to provide liquidity through fees.
As $Djed can be over collateralized (up to 8x), the risk of $Djed being unpegged decreases. This means that for every 1 $Djed minted, there are 3–7 dollars worth of $ADA in the reserve pool. If the ratio falls below 400%, users will not be able to mint $Djed, and $Shen holders won’t be able to burn their $Shen. So in the event of a market dip there is a security blanket for $Djed holders that ensures its sustainability. The minting of new $Shen is also supervised in order to maintain the balances stabilized, and ensure there will always be enough ADA in the pool to provide a dollar equivalent value to the $Djed when burning it.
### Where Can You Buy Djed (DJED)?
You can mint DJED and SHEN directly from its [platform](https://djed.xyz/) or on any Cardano top DEXs.
Similar cryptocurrencies
|
#
|
Name
|
Ticker
|
Capitalization
|
|---|---|---|---|
| 1 | TOKO |
1.00 $
1.00 $
|
|
| 2 | RNBW |
1.00 $
1.00 $
|
|
| 3 | HODL |
1.00 $
1.00 $
|
|
| 4 | YFOX |
3.00 $
3.00 $
|
|
| 5 | BUILD |
4.00 $
4.00 $
|
|
#
|
Name
|
Ticker
|
Price (USD)
|
|---|---|---|---|
| 1 | BOB |
1.00 $
1.00 $
|
|
| 2 | USDC |
1.00 $
1.00 $
|
|
| 3 | GDAI |
1.00 $
1.00 $
|
|
| 4 | UUSD |
1.00 $
1.00 $
|
|
| 5 | USDS |
1.00 $
1.00 $
|
Trading discount
