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What is the djed token? Simplest explanation
Hey Cardacians, have you heard of Djed? It’s the first stablecoin on Cardano, and it’s not your typical fiat-backed token. Djed is an algorithmic stablecoin that adjusts its supply according to market demand, keeping its price close to $1 USD. But that’s not all. Djed also has some unique features tRead more
Hey Cardacians, have you heard of Djed?
It’s the first stablecoin on Cardano, and it’s not your typical fiat-backed token. Djed is an algorithmic stablecoin that adjusts its supply according to market demand, keeping its price close to $1 USD. But that’s not all. Djed also has some unique features that make it stand out from other stablecoins:
Djed can be pegged to any currency, as long as there is an oracle providing the price index. So you can have Djed-EUR, Djed-JPY, Djed-GBP, etc.
Djed has a reserve of ADA that acts as collateral for the stablecoin. The reserve ratio determines how much ADA is backing each Djed token. The higher the ratio, the more secure and stable the system is.
Djed has a governance token called DUSD that allows holders to vote on protocol parameters such as target price, reserve ratio, interest rate, etc2. DUSD holders also receive rewards from fees generated by the system.
Djed is named after an ancient Egyptian symbol that represented stability and prosperit2. It also symbolized Osiris, the god of rebirth and renewal. Pretty cool, huh?
I think Djed is a game-changer for stablecoins and Cardano.
What do you think?
Let me know in the comments!
See lessWhat is the Shanghai upgrade? Explain like I was five.
Hey fellow ethereans, Are you one of those brave souls who staked your precious ETH for the greater good of Ethereum 2.0? Are you tired of waiting for years to get your rewards and funds back? Are you feeling left out of the DeFi craze and NFT mania? Well, fear not, because the Shanghai Upgrade is cRead more
Hey fellow ethereans,
Are you one of those brave souls who staked your precious ETH for the greater good of Ethereum 2.0? Are you tired of waiting for years to get your rewards and funds back? Are you feeling left out of the DeFi craze and NFT mania?
Well, fear not, because the Shanghai Upgrade is coming to save you!
The Shanghai Upgrade is the next major upgrade after The Merge, which will switch Ethereum from proof-of-work to proof-of-stake. The Merge already happened, and the Shanghai Upgrade is around the corner.
The main feature of the Shanghai Upgrade is the implementation of EIP-48954, which will allow validators to withdraw their staked ETH and rewards from their validator balance. This means that you can finally access your locked-up ETH and do whatever you want with it.
You can sell it, hodl it, lend it, borrow it, stake it again (why not?), or use it to buy some cool NFTs or DeFi tokens. The choice is yours!
The Shanghai Upgrade will also make the network more scalable, consistent, and upgradeable. It will reduce gas fees for key network participants like miners and full nodes by introducing a new fee structure called EIP-36516. It will also improve security and performance by fixing some bugs and optimizing some protocols.
So how do you prepare for the Shanghai Upgrade?
Well, if you are already a validator, you don’t have to do much. Just keep running your node and wait for the upgrade to happen. You will receive a notification when you can withdraw your ETH.
If you are not a validator yet but want to become one before the upgrade, you still have time. You need at least 32 ETH to stake on Ethereum 2.0. You can either buy them on an exchange or earn them by mining or trading.
You also need a computer with internet connection and some technical skills to run a node.
But be warned: staking is not risk-free. You can lose your ETH if you go offline or act maliciously. You also have to pay attention to tax implications and regulatory issues in your jurisdiction.
Let me know what you think about this post in the comments below.
This is me signing off! 😎
See lessI asked chatGPT what it thinks about shibarium. Here is the response.
Hey fellow shibes, I'm super excited about the upcoming launch of Shibarium, our very own layer-2 blockchain network that will take SHIB to the moon! Shibarium will make SHIB faster, cheaper and more scalable than ever before. No more waiting for hours or paying high gas fees to send or receive ourRead more
Hey fellow shibes,
I’m super excited about the upcoming launch of Shibarium, our very own layer-2 blockchain network that will take SHIB to the moon!
Shibarium will make SHIB faster, cheaper and more scalable than ever before. No more waiting for hours or paying high gas fees to send or receive our beloved coin. Plus, we’ll get rewarded with TREAT tokens just for staking our SHIB on Shibarium. How awesome is that?
Shibarium is not just a shiny new toy for us shibes. It’s a game-changer that will make SHIB more competitive and attractive to investors, developers and users. It will also open up new possibilities for innovation and creativity within our ecosystem. Imagine all the cool dapps, games and NFTs that we can build on Shibarium!
So let’s get ready for Shibarium, shibes. Let’s show the world what we can do with our community-driven project. Let’s make history together!
Woof woof!
See lessIs doge co-related to Elon?
The price of Dogecoin (DOGE) has risen by 7% in the last 24 hrs (22nd Feb 2023), recouping losses that occurred since the start of today's trading session. The reason for the recent DOGE micro pump can be attributed to a confession from the current "commander in chief" of Twitter, Elon Musk. As is tRead more
The price of Dogecoin (DOGE) has risen by 7% in the last 24 hrs (22nd Feb 2023), recouping losses that occurred since the start of today’s trading session. The reason for the recent DOGE micro pump can be attributed to a confession from the current “commander in chief” of Twitter, Elon Musk.
As is typical of an eccentric billionaire, the confession was humorous and answered a question from the famous Baha Men song, “Who Let The Dogs Out.” A picture of the phrase “I let the dogs out” was enough to cheer up DOGE quotations, but that was not all.
See lessWhat does the Cardano valentine upgrade mean?
This new implementation will take the Cardano mainnet to version 8. Hence, SPOs and Cardano node users will need to upgrade their nodes to version 1.35.5, the latest version. The notice issued to the Cardano community clarified that versions below 1.35.4 will be incompatible with the upcoming mainneRead more
This new implementation will take the Cardano mainnet to version 8. Hence, SPOs and Cardano node users will need to upgrade their nodes to version 1.35.5, the latest version. The notice issued to the Cardano community clarified that versions below 1.35.4 will be incompatible with the upcoming mainnet v8. Hence, they will not work on the mainnet after the network completes the upgrade.
According to a publication by IOG, the SECP upgrade will add new functions to the Plutus cryptographic primitive on the Cardano network. This addition will further support the existing ECDSA and Schnorr signatures, making it easier for developers to build cross-chain applications on Cardano.
The publication also states that currently, Cardano uses the Edwards-curve Digital Signature Algorithm (EdDSA) with the elliptic curve Curve25519 as its base curve (Ed25519). This combination enables the network to achieve fast signature verification processes and small signature sizes.
It further explained that, though efficient, the current system exposes Cardano to security risks and potential loss of resources whenever developers want to work with other blockchains. The new built-in structure with the Valentine upgrade will allow developers to use a wider range of multi-signature or threshold signature designs native to Cardano. IOG believes this will provide the highest level of security for the network.
See lessWhat would need to happen for Shiba Inu to reach $0.001?
In order for Shiba Inu to deliver some form of repeat performance to 2021, three things would need to go its way. Arguably, the most important catalyst for SHIB is the expected launch of Shibarium, an internally developed layer-2 blockchain that's specifically designed to lower transaction costs. NoRead more
How to build a cryptocurrency community on telegram
Here are some steps you can follow to build a cryptocurrency community on Telegram: Create a group or channel on Telegram: To start building your community, you'll need to create a group or channel on Telegram where people can discuss and share information about cryptocurrencies. A group allows membRead more
Here are some steps you can follow to build a cryptocurrency community on Telegram:
Overall, building a cryptocurrency community on Telegram requires a combination of active engagement, moderation, and organization. By following these steps, you can create a thriving community of like-minded individuals who are interested in cryptocurrencies.