Djed: The Future of Stablecoins on the Cardano Ecosystem - Launch Update and Development Progress
Updated: Feb 5
Djed, the highly-anticipated overcollateralized algorithm stablecoin on the Cardano ecosystem, is set to launch soon, bringing a new level of stability and security to the world of cryptocurrency. The team behind Djed has been working hard to ensure that the platform is ready for launch and they're excited to share some updates about their progress.
One of the key developments that the team has been working on is the chain index syncing process. This process is crucial for ensuring that the platform is fully functional and secure. It involves putting all the pieces of the puzzle together and the team has been working hard to make sure that everything is in place. The process may take 14 days, and as they started the sync a week ago, they expect to complete it next week and be ready to launch.
Another exciting development is the team's effort to provide staking and rewards for $SHEN holders. To make this happen, they are developing a snapshot mechanism and UI that will be added to the djed.xyz website, where $SHEN holders will be able to track these extra rewards. This is a great opportunity for holders to earn additional rewards while supporting the stability of the Djed.
The team has also added the ability for users to cancel an order. This feature, which allows users to click on the "refund button" and their transaction will be canceled (as long as it hasn't been processed), is a great addition to the platform, giving users more control over their transactions.
Djed has also recently had some listing news. Bitrue, a popular exchange platform, has announced that they will be listing Djed and Shen on their platform. This will provide more opportunities for users to trade and invest in these cryptocurrencies. Djed's DEX partner, Wingriders, has also hinted on Twitter that an announcement is coming soon. This is exciting news for the community and it is expected that more news will follow shortly.
In conclusion, Djed is set to bring a new level of stability and security to the world of cryptocurrency with its overcollateralized algorithm stablecoin. The team behind Djed is excited to launch the platform and can't wait for users to experience it for themselves.