Token Spotlight: DEDI
7/29/2024
This week’s Token Spotlight focuses on DEDI, the governance and utility token of the Dedium Network. Dedium is a decentralized GPU-focused computing network on the Cardano blockchain. With its innovative approach to utilizing GPU power, Dedium aims to revolutionize decentralized computing. This article will delve into DEDI’s tokenomics, utility, and more.
DEDI Distribution & Tokenomics
DEDI has a total supply of 250 million tokens, of which 50 million are currently circulating, equivalent to 20% of the circulating supply. At 0.0797 ₳ this gives the token a Market Cap of $1.67M and a Fully Diluted Market Cap of $8.36M, placing it at #54 in the Top 100 tokens on Cardano by Market Valuation.
There are currently 1,041 wallets holding DEDI, up 30.13% in the last 7 days, highlighting a growing community that is taking interest in this recently launched DePIN project. The token has a Median Holder Balance of 6.69K DEDI, equivalent to 477.52 ADA, and an Average Holder Age of 8.21 days.
The above image details the tokenomics of DEDI. Nearly 50% of the supply is set for node rewards, while the rest is divided between the project treasury, team tokens, LP, Presale, and Public sale.
Liquidity
DEDI has 219.32K ADA in liquidity across 5 Decentralized Exchanges on the Cardano Blockchain. The majority of this liquidity is on Minswap V2 which holds over 80% of DEDI liquidity, with SundaeSwap V3 being the second most liquid DEX for this token.
Volume
DEDI has a Lifetime Trading Volume of 7.76 million ADA, equivalent to 87.65 million DEDI. 3.92 million of this trading volume was buy volume while 3.85 million was sell volume. The swordfish (25–100K ADA) wallet size leads this token in trading activity, followed closely by the fish (5–25K ADA) wallet size. The whale (1M+ ADA) wallet size has the least trading volume of all wallet sizes for this token.
Utility
We’ll now delve into the various utilities that DEDI has to offer its holders.
Governance: Token holders can utilize their DEDI tokens via Clarity DAO to vote on protocol changes and future project development. The project recently held a vote to decide how unsold tokens from the public sale will be utilized.
Staking: In the coming months, DEDI holders will be able to stake their tokens and run a node on the compute network, or delegate their tokens to a node operator.
Network Rewards: Ecosystem participants will be able to earn rewards in DEDI for dedicating GPU compute power to the Dedium Network.
Conclusion
Dedium’s innovative approach to decentralized computing and its growing community highlight its significance in the Cardano ecosystem. As the demand for compute power continues to rise, the potential applications for Dedium’s network are vast. It will be interesting to see how Dedium and its DEDI token evolve over the coming months and years.
You can find out more about Dedium at the following link: https://dedium.io/
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem. Token info was accurate at the time of writing.
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