Latest Djed Development Update Unveils Key Improvements for Users
In the ever-evolving realm of cryptocurrency and decentralized finance, Djed remains committed to delivering excellence. In their latest Djed Development Update, readers will discover a series of significant enhancements aimed at elevating the user experience. This comprehensive upgrade encompasses vital elements such as process flow optimizations, reduced minimum requirements for DJED and SHEN tokens, and a substantial reduction in operational fees. Through this article, readers will gain insights into these pivotal updates, including Chain Index Optimization, Pub User Upgrade, and the strategic reduction of DJED and SHEN minimums, all designed to enhance the Djed ecosystem and provide greater incentives for community participation. Additionally, the article addresses common questions and misconceptions about DJED, emphasizing the platform’s commitment to transparency and user engagement. Dive into the world of Djed and explore the exciting developments that pave the way for a more accessible and rewarding decentralized financial experience.
Below is the COTI teams Sep 2023 Djed update announcement:
Djed Development Update
As part of our continuous improvement process, we’ve recently performed an upgrade to Djed’s code. This update comes with a host of process flow optimizations, a lowering of the minimum mint and burn requirements for DJED and SHEN, as well as a reduction in operational fees.
We are happy to share with you the latest updates about Djed:
Chain Index Optimization
Chain Index is an application that synchronizes the state of the Djed protocol on the Cardano network into an SQL database. It is used to both determine price and quote transaction costs while considering the current state and any pending orders. With this update, the errors of invalid exchange rates will be reduced, thus improving performance. This upgraded version also achieves an improvement in the robustness and scalability of the chain index.
Pub User Upgrade
Pub User is an application that assists with producing orders and reflecting the current state of each participating wallet that owns DJED/SHEN. With this upgrade, the pub user application has been improved, providing an increase in responsiveness, performance and scalability.
DJED & SHEN Minimums and Operational Fees Reduced
After testing and optimizing the performance of the platform, the final update aims to incentivize more users to participate in the protocol. To achieve this, we’ve made several changes to both our operational fees and the minimum amounts of DJED or SHEN that can be minted or burned. The updated conditions are as follows:
1. New minimum minting and burning amount for SHEN: 200 SHEN.
2. New minimum minting and burning amount for DJED: 200 DJED.
3. Reduced operator fee: 5 ADA.
Holding SHEN already carries some impressive incentives (protocol mint/burn fees, delegation rewards, DeFi APR’s etc.). We believe that with the new lowered minimums for minting SHEN, along with the operational fee reduction, the incentives will be even greater, helping to bring more liquidity to the platform.
Djed’s Questions Answered
For those of you who may have missed it, we have written an article addressing community questions and common misconceptions about DJED. You can find all the information here: https://medium.com/cotinetwork/answers-and-clarification-to-recent-djed-community-questions-95176450db09