Recently Cardano and COTI is being rally up drastically and now is cooling down a bit. Yep of course it is because Bitcoin crashing! and now they're crawling back slowly
Djed
"an algorithmic stablecoin protocol that behaves like an autonomous bank that buys and sells stablecoins for a price in a range that is pegged to a target price"
you can read it here
Ok let's jump into Djed
There has been partnership with some DEXes like Adaswap and ErgoDex, both has been tested and giving rates oracles.
As we are getting closer to the launch of Djed stablecoin, we are pleased to share some updates on the development and progress.
The current Djed Plutus Implementation:
- The main contracts for providing oracle exchange rates, for submitting multiple orders simultaneously, for canceling pending orders and for minting/redeeming stablecoins/ reserve coins have been implemented.
- Testing is underway to ensure expected behaviors
Next milestones:
A pre-released version will be delivered in the next few days for UI integration. This pre-released version will provide endpoints for:
- Querying the stablecoin bank reserve (i.e., current Ada in reserve, current reserve ratio, number of stablecoins, and reserve coins in circulation),
- Querying buying and selling prices for stablecoins /reserve coins,
- Querying list of pending orders,
- Submitting orders and canceling pending orders
- Implementation of configuration management contract responsible for version control and contract upgrades
i will make the chart later on here CHART stay tuned!
I posted some of my fundamental knowledge here! check it out too! Recap Analysis