Feb 2
Djed Launch Recap
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:
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.
Stay COTI!
For all of our updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io
Twitter: https://twitter.com/COTInetwork
Telegram: https://t.me/COTInetwork
GitHub: https://github.com/coti-io
Discord: https://discord.gg/9tq6CP6XrT
Binance Feed: https://www.binance.com/en/feed/profile/485349084
CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
