This is the only investment i dont mind holding for years.

If sundaeswap is following pancakeswap the single coin pools are the best! I heard somewhere in a video that there is a plan to implement it!

@@sanchopanza2024 really? never seen this kind of pool!

@@radamantysk1 I think liqwid is planning something even better with their liquidity pools as well!

Like Naruto, but I am biased with Sasuke! LoL!

Hoskinson speaks the truth

MELD will have a fractionalized gold backed stable coin with a vault in Switzerland

@@johnbullwick2225 thanks! I've been wondering who will do the Gold peg for Cardano. within the next year or so I'm hoping to do all my investing via the Cardano network via pegs to Fiat/Gold and other coins like wrapped BTC

This comment aged well..

@@wadjo1 😂😭

Jerry reference?

LiqwidX will its algorithmic stablecoin, LQUSD, will be really nice. Live Early Q1 2022

Was waiting to see who else noticed! Put the same shirt back on and everything.

If you have to say something just say it man

@@FireDancerR he said it 😂

Read my reply to Oscar above.

I can't tell you exactly how Coti will implement it, it is up to Coti so you should ask their community. I believe, but don't quote me, ontop of the Djed protocol fee, there will be a "Coti" fee which I assume is paid in ADA and will be used to market buy Coti. Djed itself have a protocol fee, where every minting and redeeming of the stablecoin and reserve token has a fee (in this case with Coti it will be dynamic I'm assuming) which is redistributed to the reserve token holders.

Came here to ask the same question. UST was an algorithmic stablecoin. It crashed because it was attacked but it burn to the ground. After that even, it would be expected that distrust in algorithmic stable coins would remain high. Having a paper with formal verifications of postulated theorems is nice, but may not be sufficient. It is actually dangerous to even try to present such papers as “proof” that the system cannot fail. I still think Cardano is one of the best reasoned, hence stable, projects available. I agree that the fiat system has been abused and is prone to abuse. It does not mean any alternative is intrinsically better.

Decentralized

It is an open protocol, has been implemented on a decentralized blockchain already (Ergo). Coti will be implementing Djed for Cardano, it is a KYC platform, so to use their wallet and mint stablecoin require KYC. Coti supporters argue that Coti is decentralized because it has something like 24nodes as of tying. But I personally have some questions. Where are those 24 nodes existing right now, there is some assertion they are mostly around the same area. It require 250,000 COTI to run a community node, which is pricey for regular people to run their own. And the KYC is a centralized factor, I would feel better about it if they work to accept KYC through zero knowledge proof in the future. Otherwise to me it is still centralized. Coti have a banking license I understand, this whole thing will be profitable for them.

Probably because it is the most tradable currency in the world. Djed is an open source implementation and anyone can make their own version and peg it to other assets, like gold instead. Also Djed isn't just running on Cardano. Coti is a kyc and I argued is somewhat centralized. Ergo is the one who help develop Djed and they have their own version running on their blockchain too. I believe that there will be more implementation of this protocol in the future. In term of regulation, djed itself (not Coti's implementation of djed), is safer than other stablecoins, because the 'reserve bank' or 'reserve pool' don't really have any owners, almost like a DAO. But how Coti chooses to implement it make a difference to how the regulatory response will be, I understand they have a banking license and do everything to comply with regulation. But the way I see it, there is complying with regulation and then do you actually own what you own, and there is fine balance.

Djed doesn’t have to be pegged to the dollar. That’s one of its strengths. It can be pegged to a basket of currencies, commodities or precious metals. As for pegging it to the value of a dollar in 2015. It has to be pegged to something that actually exists, something for which a real exchange rate can be established. 2015 valued dollars don’t exist anymore. Finally, the United States has no jurisdiction over Cardano or Coti. Cardano is global software on the internet. It’s ICO was conducted legally in Japan in 2017. IOG is headquartered in Switzerland and Coti is an Israel based company.

Because a vast percentage of global economic activity relies on the dollar. Producers, suppliers and consumers transact in the dollar and it's stability allows everyone to accurately anticipate supply chain costs, revenue, profit, price etc.

Coti is the one to implement this djed protocol for Cardano, so it will be whenever Coti make an announcement and let people mint it, but it requires KYC.

@@dukeman8481 well that doesn’t sound too good. But in reality I’d just like to know when this actually happens rather than a “plan” to do something. It’s been long enough. It’s time for Cardano to actually have the elements it needs to get the ETH users over

@@jmanjr Cardano has most of these elements present already, now it’s gradually being handed over to the protocol builders. Ouroboros staking, check. Plutus smart contracts, check. Native multi-asset ledger, check. Decentralised project fund-raising ft. Cardano’s treasury, check. There are still polishing pieces to be made with Goguen (Babel fees mechanism, PAB, Marlowe financial contracts, ERC-20 converter) but these are expected to be rolled out by end of year.

The way AgeUSD/Djed work is there is a pool of reserve (the reserve bank), the protocol try to keep the reserve ratio (aka collateral ratio) above 400%, or 4X. Instead of just 1 to 1 collateral like other protocols. So under 400%, you will not be allowed to mint more stablecoin, thus preventing bank run, and protect the stablecoin to lose it's peg and go below $1. Reserve token, or base token, is given out people who provide reserve (in this case ADA) to the reserve bank. To keep the reserve ratio % up. When a stablecoin token holder redeem their stablecoin for ADA, it takes ADA out from the reserve bank and the ratio % go down. So there has to be a reward and incentive for people to provide ADA to the reserve bank, through this reserve token. However, the tricky part here is that the value of reserve token can go up and down, and it's based on multiple factors in the protocol, I don't actually understand the math on how it work. But the value of the reserve token is not based on ADA price alone. The most simple way I can put it, is I think in order for the reserve token to go up in value, if the stablecoin have more utilities and demands, more people mint stablecoins and hold it, then the reserve token can go up in value easier as ADA price appreciate as well. However, if there is lack of demands, more people are exchanging the stablecoin for ADA, thus removing more ADA from the reserve bank, and causing reserve ratio to go down, then the value of the reserve token will decrease as well. Which mean you will redeem less ADA for the same amount of reserve token. In effect, holding the USD stablecoin is to short ADA. The whales hold the stablecoin so they can short ADA, when ADA price go down, they will redeem their USD for more ADA. By holding reserve token you are going long on ADA, as ADA price appreciate along with increased demand for stablecoin, then your reserve token is worth more ADA. But this is not easy cut, remember price action alone doesn't determine the value of your token, it is possible that ADA price go up 3X and the reserve token lose value, if a lot of whales are shorting and removing ADA from the reserve bank.

You also earn protocol fees by holding the reserve token, so when people are minting or redeeming tokens, there is a fee that is collected and given out to reserve token holders. But this amount if quite tiny and if the reserve token is losing value it won't be enough to break even.

@@dukeman8481 Thanks bro.........

This ^

I think it's because IOHK has had just way too much to do. They get contractors to do certain aspects of the building for them. Charles has talked about this a bit before. So here, IOHK got the paper done, formally proving aspects of Djed, and Cori implemented it based on that paper, while IOHK focused development on other parts of Cardano

Honestly, as someone who have been using Djed (SigmaUSD) for many months now, I question this as well. I understand Coti have banking license and have infrastructure for regulation compliance

They are using a similar function as adapay and are leveraging cotis infrastructure, most the other projects are usa based, so they will be required to be US regulation compliant, cotis operates in Gibraltar, from Israel via Switzerland so if the SEC wants to sue coti, they have to get I international approval from all these nations, file 3 time, pay 3 times, get approval 3 times, expedite data from 3 locations, the SEC will have to have a strong case to use tax payers money for any suit that just to begin with could cost 10s of millions that can't be recouped.

Djed is the protocol itself, it designed so you can peg it to any asset. So could be USD, Euro, gold, etc. Coti version is just one implementation of Djed, to me they seem to be a KYC platform with arguably low number of nodes. Anyone else can take the Djed protocol and implement their own version too.

@@dukeman8481 si why the big hype about Coti

Well then your kind of in the wrong place dude

@@timgoppelsroeder121 so u just waiting the projects without raise the price .. so what do u think about investment ? or just helping poor people on africa ? u should save your money in the bank 🤣🤣

Once the dex is live on cardano Blockchain it will skyrocket for sure till then have patients and make your hand strong 💪

@@mukeshpawar8646 when ??

@@semuaada200 the only thing i would say here is there are levels to value assessment. For instance can analyze apple based of its previous stock price or in terms of its promised technological deliveries and their estimated impacts... one is more long term one is more short term generally speaking. But why would i want to lose money (this may have seemed like a smart comment when you were making it but really it just underlines your lack of financial perspective)

You have to understand, Djed is the open source concept. Coti can implement their version of Djed and call it whatever they way. From what I read, yeah you need KYC to mint and redeem the stablecoin. But anyone else can implement their own version of djed too.

Djed is name of the stablecoin protocol. In the protocol, there are two tokens, the stablecoin and the reserve token. You can "go long" on Cardano if you hold the reserve token, if there is more demands for the stablecoin and the value of ADA go up, the reserve token could go up in value. But the reserve token could also lose a lot of value, especially when the stablecoin holders "short" ADA, by waiting for ADA price to go down and selling the stablecoin back to ADA and reducing the size of the ADA reserve pool, this combined with negative price action, can cause the value of the reserve token to go down.

it is not confirmed which one will be the reserved coin, is it? he mentioned ADA but I think it was just an example

One of the most famous ancient Egyptian symbols was the Djed pillar that was a symbol of stability, permanence, and immutability

Stupid if u dont know the meaning behind it

@@Incogonfx it doesnt matter. Im talking from a marketing perspective. It might be meaningful...but most most people wotn care or remember it.

@@ezcampany also connected to the underworld and sign of the Osiris spine....

Hi. You could slow Down the Video speed

Jajajajaja (I thought I laugh in Spanish for you to understand!) Ada all day 😎

Very fitting profile pic.

"Jed", that's it. Djed Is Egyptian, they were one of the first to use cryptography in hieroglyphs.

So im not the only one somehow annoyed that hes holding the microphone?

Time stamp??

@@ystsina Look around the 2 minute mark. Fresh and clean, then later in the video he goes back to a little longer look. Check it out!

Testnet coming in the next 10 days and it will be open to anyone who wants to mint Djed. As testnet is open, the code will be Audited and once that's done, it will launch in late Q2

Why? It's a clever name. Short, easy to remember and it means stability in Egyptian.

@@robinfrenzy the Egyptian reference is so obscure it’s not much of a mitigating factor for the fact the pronunciation and spelling are unusual and will be a head-scratcher to the public… also means “grandpa” in three Balkan languages - not 2 thousand years ago but today.

@@Valkalium I don't see it as much of a problem but I suppose we won't agree. There will always be a language in which it means something else. And the D in front actually helps imo. Some would call it "yed", or jed without the D sound, who knows how others would mispronounce it. Did you know NIKE in french is pronounced without the E sound. The correct prononciation (of the greek goddess) would sound like the french F word. It's a major brand name and that never was a problem.

@@robinfrenzy While I can’t shake the feeling the word was picked by engineers without much consideration for practicality or style because it sounded smart to them, those are some good points objectively. Your arguments and examples make me hope the rest of us warm up to it with time - and that probably will in fact happen.

It doesn't matter. Djed is the name of the protocol, anyone who implement this protocol will give their tokens it's own name and ticker. Originally it is called AgeUSD, before renamed to Djed, because this protocol can peg to anything not only USD.

The protocol is open and can be programed to peg to other assets, or multiple assets. Someone will eventually make a gold stablecoin with Djed.