DJED Launch Getting Closer
I am sure most of you know DJED is the stablecoin being used by Cardano (ADA) and everyone is waiting for the Vasil hardfork to happen so they can be minted.
With the Vasil Hardfork on the Cardano Blockchain finally going to happen as the new node version has been updated and implemented by over 75% of the Cardano Eco system. This is a process that runs like clockwork which everyone follows in sequence. I honestly am excited to se this happen as I am curious to see how much the APR will increase by in the COTI treasury. All the fees generated by DJED will be used to buy back COTI from the exchanges and make their way as payment to stake holders.
How big could this be I have no idea, but there are enough partnerships in the image above to make it very big. The current APR on offer for the longer safer staking pool on COTI currently with no risk is down below 10% at 9.92% and I am hoping for a decent rise soon enough. This is why we hold and keep staking as the chance of earning a decent return is what we all hope for. A project involved with Cardano has to be more patient than ever as they are not known to worry about the "wen" time period and work at their own pace.
75% of the integration has already happened meaning the next important factor is the exchanges with 25 being the magic number representing 80% of the liquidity available. This is expected to start happening on the week of the 29th which is 2 days away still.
Out of the 70 exchanges listed only Binance has started implementing the new upgrade so it may be a few days yet. Dapp's have been busy testing already with some already having finished this phase.
I see this as exciting as the launch phase will be like a double whammy with loads of DJED being minted as every protocol will need plenty to get up and running. This will create more service fees which will increase the APR which in turn will buy the liquid COTI on the market pushing the price up. The price will not need to rely on what Bitcoin is or isn't doing as there is another use case being added making it more independent of what the market is doing.
I do think over the coming years we are going to see more and more Crypto projects gain a type of independence away from what the rest of the market is doing by the new developments and use cases they have. The DJED ecosystem will only grow bigger over time as more and more projects climb on board which they will do.
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Iam a fanatic Cardano believer. My portfolio is about 80% of ADA, but am l the only who scared a little bit about if the story of LUNA repeat it again ?
You cannot compare the two projects as one was a ponzi scheme destined for failure. Cardano will do very well even though I am not heavily invested into it as I am into service coins providing services. Fortunately Coti and Cardano are closely lined with a partnership and why I want Cardano to do very well.
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