Djed Development Updates
We are happy to share some updates that outline the major milestones of Djed — Cardano’s algorithmic stablecoin.
The team has been working hard to launch the stablecoin and we look forward to sharing more with the community as we progress.
- UI Integration: This includes launching the pre-released version for UI integration and the Nami-wallet. Through this, we will include the necessary endpoints for querying orders in addition to submitting and canceling orders to the querying Djed state.
- Final Design: This milestone will include the integration of the final implementation and design of reward contracts for complaint submission, in addition to endpoints for performing complaints directly to the protocol.
- Configuration Management: Implementing the layout of a management contract that will perform version control through NFT tokens. Through this, the contract will guarantee that the initial stablecoin contracts are properly set to deploy on the first launch while ensuring the protocol parameters are always satisfied upon deployment/any upgrades.
- First Launch: Final version of the first launch which will be integrated with the Nami-wallet.
After First Launch
- Implement Stablecoin Operator: Through this milestone, the team will perform loose bindings of the stablecoin operator through the introduction of an operator NFT token; thereby allowing for more than one operator of the contract.
- Yoroi & Daedalus Wallet Integration: This integration will enable minting/burning activities from the Djed website through Cardano’s wallets Yoroi and Daedalus.
- DEXs integrations: Integrating Djed into Decentralized Exchange (DEX) platforms to enable increased liquidity and Djed’s participation in trading assets through liquidity pools, Djed pairs, and more.
- Price Model Launch: This milestone will enable the implementation of an extended Djed version with continuous price models and a debt-equity swap mechanism.
We are pleased with the progress that has been made and look forward to continuing our work on Djed with the support of the Cardano team. We are currently in the implementation phase and have already laid the groundwork that will enable Djed to remain competitive among other algorithmic stablecoins.
We will be sending out more updates and announcements as we continue to cover more milestones, expect more from us soon!
For all of our updates and to join the conversation, be sure to check out our channels:
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf