Using Djed Osiris on Cardano
Introduction
Milkomeda Djed Osiris is a stablecoin launched on the Milkomeda EVM sidechain of Cardano in April 2023. It is a fully immutable and decentralized smart contract, ensuring autonomy and protection from outside interference. Furthermore, by being based on version O (Osiris) of the Djed Stablecoin Protocol, it features transaction limits and the possibility to redeem stablecoins and reversecoins simultaneously, even when the reserve ratio is below the minimum threshold. This reduces friction and enhances user experience. Through the Milkomeda bridge, Djed Osiris expands Cardano’s DeFi ecosystem, providing reliable stability for users.
Getting Started
Setting up Metamask
Head over to the metamask website
Choose the system you use:
And then select the browser you want to install metamask on
Take Chrome for an example. You will hit install MetaMask for Chrome and be directed to the Chrome web Store. If you’re using Firefox, or Edge as your default browser, then you will be taken to Firefox Addons or Edge Addons to install the MetaMask plugin.
Click Add to Chrome
Click “add extension” once the notification pops up.
Now you’re ready to go. To make it more easily accessible, remember to pin it after clicking on the extension button.
Check out this article in case you don’t know how to set up Metamask for Milkomeda.
Setting up Flint wallet
Head over to google chrome store and press add to chrome to set up flint wallet
Afterwards open your flint wallet plugin
Choose your language (only japanese or english available at this time of writing)
Decide if you want to share feedback with the team
Pick mainnet network
If you’re new, just press create new wallet
Save and confirm your recovery phrase
Enter a password and save it and you’re all set!
Transfer ADA to Milkomeda using the Milkomeda C1 Bridge
Head over to https://cardano-bridge.milkomeda.com/bridge
Choose Cardano -> Milkomeda C1 to wrap your ADA token
Connect your Flint Wallet
Enter the amount of ADA you want to wrap and send to Metamask, then enter your Milkomeda address.
Now just wait for the wrapped ADA to arrive on your Metamask wallet.
Purchasing stablecoins MOR or MOD with mADA
Head over to https://milkomeda-c1.djed.one
Connect your metamask wallet on the top right
Click on Stablecoin in the top left category to buy MOD
Click on Reservecoin in the top left category to buy MOR
Insert the amount of MOR or MOD you want to purchase
Transfer MOR or MOD back to flint wallet on Cardano
Head back to https://cardano-bridge.milkomeda.com/bridge
Click on Milkomeda -> Cardano to perform the unwrapping
Connect your Metamask wallet
Choose the assets you want to bridge over to Cardano — Keep in mind MOD & MOR are referred to SC & RC respectively on the bridge as shown in the image below
Sign the transaction and you’re done!
Transactions usually take a few minutes.
Now you have MOD and MOR on the Cardano blockchain, and you may transfer them to any other Cardano wallet and use them on DeFi projects on the Cardano blockchain. Enjoy!
About the Djed Alliance
The Djed Alliance aims to stabilize the digital economy through the Djed Stablecoin Protocol.
The Djed Stablecoin Protocol is deployed across multiple networks and can be used to create your stablecoin. Join our growing community and together, we will advance the future of the decentralized economy.
