Amazing news for the Cardano Ecosystem: Djed has just launched! On the 31st of January 2023, it was officially launched on mainnet and Cardano has now its own official native algorithmic stablecoin.

Djed is a decentralized, overcollateralized algorithmic stablecoin, that is able to sustain its peg due to some very interesting algorithmic dynamics between djed, ADA, and Shen which is the reserve currency of the protocol.

In fact, Ada and Shen help overcollateralize the protocol in order to make sure that Shen users are always able to redeem their Shen for 1 dollar worth of Ada.

It’s such an exciting Stablecoin because it has been mathematically proven, and theoretically., it should work and resist the test of time contrary to other famous algorithmic stablecoins like Luna. Of course, there are a lot of risks associated with this protocol, and we never know if things will run smoothly in practice and what kind of issues it can run into.

In this video, I show you exactly how you can mint and Burn Djed, how you can Mint and burn Shen, and if you’re not eligible for the last two how you can get it from Dexes, like Sundaeswap, Minswap, or WingRiders.

It’s a step-by-step Tutorial on how you can get Djed and Shen, and providing you will all the relevant info so you can choose what works best for you.

In addition, I also explain at a high level how the protocol works, the benefits, and, some of the risks associated with holding Shen the reserve currency.

It’s definitely a video you should not miss if you’re considering getting Djed or Shen!

If you have any doubts or questions at the end of the video, about the mechanism behind the ProtocoI, or about Shen or Djed I also have a more in-depth going through it in a more visual manner, a bit below in the links in this description.

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Below I leave all the relevant links and sources discussed in this video:

Djed website: [ Ссылка ]

Djed Mechanism Explained: [ Ссылка ]

Djed is Live Tweet: [ Ссылка ]

Djed mechanism image: [ Ссылка ]

NOTHING IN THIS VIDEO IS FINANCIAL ADVICE, ONLY EDUCATIONAL CONTENT!

Thanks for watching, and don’t forget to drop your feedback or any video requests you have in the comments!

Timeline
0:00 Intro
1:03 Channel Intro
1:14 Djed is Live!
2:03 Djed Protocol and Pricing
7:28 Mint and Burn Mechanism and Reserve Ratio
9:45 Mint and Burn Djed and Shen
15:17 Getting Djed and Shen from Dexes
17:21 Benefits of Holding Djed
18:10 Benefits of Holding Shen
20:43 Learn more about Djed and Shen.

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