Djed Launch Recap

This post was originally published on this site

Feb 2

3 min read

It has been only two days since we successfully launched Djed on Mainnet, and we are very pleased with the massive responses and participation that we have seen so far!

We are happy to share some details about the platform including data surrounding the launch, the engagements received, as well as media coverage:

A total liquidity of 28M ADA has been provided on the platform.
3 hours after launch, we reached a reserve ratio of 800%, meaning that at that time, no additional SHEN could be minted until the ratio was lowered.
1.85M DJED has been minted, and 40K was burnt.
21M SHEN has been minted, and 73K was burnt.
At the time of writing the reserve ratio is 623%.
Both DJED and SHEN were listed on the top Cardano DEXs, including: Minswap, Wingriders and MuesliSwap.

Here are some TVL stats from the DEXs:

Minswap:
DJED/ ADA pair has 149.7K ADA TVL
SHEN/ ADA pair has 325K ADA TVL

Wingriders:

DJED/ ADA pair has 1.21M USD TVL

SHEN/ ADA pair has 1.65M USD TVL

MuesliSwap:

DJED/ ADA pair has 87K ADA TVL

SHEN/ ADA pair has 185K ADA TVL

Bitrue, a centralized exchange and advanced cryptocurrency management platform listed DJED and SHEN as well.
CoinGecko and DefiLlama have listed DJED. CMC has listed both DJED and SHEN
Top Media outlets have covered Djed’s launch, and you can see some of the articles that were published listed below:

Cardano-Based Djed Stablecoin Attracts 27M ADA Tokens as Reserve Backing

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Shaurya is an…

www.coindesk.com

Cardano coins new name for its ADA-backed stablecoin Djed

Since the fall of the TerraUSD (UST) algorithmic stablecoin in May 2022, many users in the crypto space have developed…

cointelegraph.com

Cardano’s Djed Stablecoin Hits Mainnet

DJED is expected to set the stage for more opportunities for the Cardano ecosystem around DeFi, payments, etc…

cryptopotato.com

Cardano’s Djed Stablecoin Hits Official Release By DailyCoin

Cryptocurrency 5 hours ago (Jan 31, 2023 12:00PM ET) Cardano’s Djed Stablecoin Hits Official Release The anticipated…

www.investing.com

Cardano Djed Stablecoin Goes Live: Details

Tomiwabold Olajide The much anticipated Djed stablecoin, developed by Cardano builder Input Output (IOG) and COTI…

u.today

DJED Finally Goes Live as COTI Launches Cardano Stablecoin on Mainnet

The much-anticipated Cardano algorithmic stablecoin DJED has finally launched on mainnet. COTI, a DAG-based Layer-1…

thecryptobasic.com

In the coming days we will improve the user interface, and we plan to integrate Eternal wallet as well. In the coming weeks we plan to progress with the roadmap, including Plutus V2, extended Djed and multi-pool delegation which will allow delegation in multiple pools in the Cardano ecosystem.

Soon, the ADA fees will be converted to $COTI, and distributed to the treasury. We will share an update once that happens.

This is an exciting time for us at COTI and the entire Cardano ecosystem at large. We expect DJED and SHEN to be listed on more top platforms in the Cardano DeFi ecosystem, and we are excited to continue to build and improve the product in the upcoming versions.