Cardano’s Djed stablecoin has undergone a major code upgrade to enhance its performance, robustness, and scalability. The upgrades include optimizing the Chain Index to improve exchange rate calculations, upgrading the Pub User application for increased responsiveness and scalability, and reducing minimum minting and burning amounts and operational fees to incentivize more users. Djed, built on the Cardano blockchain, aims to maintain stability using a unique mechanism involving three tokens: ADA, DJED, and SHEN. By maintaining a collateral ratio between 400% and 800%, Djed ensures stability. The stablecoin’s mechanisms were put to the test in July 2023 when the reserve ratio dropped below 400%, halting new Djed minting until stability was restored.
AI Sentiment: Neutral
