Cardano Djed Stablecoin Explained w/ COTI CEO, Shahaf Bar-Geffen

[@LearnCardano]

Chapters: 00:00 Intro 01:27 About Shahaf 03:20 Overview if Djed 06:29 Mechanics of when to mint & burn what? 13:17 Rewards & incentives for SHEN holders 16:00 Excess ADA equity 17:50 Bear market launch 19:04 How Djed compares to other stablecoins & UST? 25:00 Supply shock? 26:55 The stigma around algorithmic stablecoins 30:02 Rollout plan? 33:21 Security audits 34:51 Testnet practise 35:38 What does success look like for DJed? 37:50 Closing remarks

[@nidalalghad4959]

Shahaf knows what his talking about, and he explained Djed mechanics in very simple manner. I can't wait for this token to be released.

[@LearnCardano]

Same same

[@Kelkschiz]

I think DJED is one of the most exciting elements of the Cardano ecosystem. Really appreciate this quality content. Looking forward to seeing some videos of you actually interacting with the protocols.

[@LearnCardano]

I think so too. Very dynamic and will be hugely interesting to watch launch

[@Struwwel2]

2022 has been a tough year for crypto but great for Cardano. I've never felt better about its prospects. And I felt great about it before this year.

[@LearnCardano]

The ecosystem turned out well, of course market down turn overall but no exposure to the VC or these centralised exchanges that went totally belly up

[@clbottlerocket]

This was fantastic. Thank you, much, for the clarity Pete and Shahaf. Excited to participate and see everything in action.

[@LearnCardano]

Yeh I got all the questions i wanted answered. Lucky to be able to get one on ones like this to ask all the questions I want.

[@leodeguire1641]

Best explanation video I've seen yet. Would have loved to hear more about Coti's operating fees tho. Thank You!

[@LearnCardano]

Glad it was helpful!

[@icecold5746]

Wen Shen???? LFG!! This was the most clear explanation of DJED. I've heard . I'm lovin what I'm hearin. Thanks P.

[@LearnCardano]

Yeh there are a lot of opportunities here for those that want to take on the risks. Just know that there are risks.

[@robtihanyi1155]

I have a much better understanding about the Shen and how it interacts with Djed now Pete ...this is a really informative interview...good job man

[@LearnCardano]

You're welcome Rob. You and I are not a little smarter.

[@nilsdannemann]

Good interview! Made a lot of things more clear for me 👍

[@LearnCardano]

Glad it was helpful!

[@LipovBog]

Very good interview. Thank you.

[@LearnCardano]

You’re welcome n

[@jerrypola2620]

Great interview, thanks guys 👍👏🤝

[@LearnCardano]

You’re welcome

[@genesipes8532]

Pete! You da man! Appreciate your genuine approach. Thanks for making this happen.

[@LearnCardano]

My pleasure!

[@chiforce]

That was excellent. Great interview and very understandable information. Only thing I was wandering will there be an Australian stable coin or does it even matter? The real aim is to be able to use crypto in the real world.

[@LearnCardano]

It really doesn't matter if there is a AUD stable or any other currency stable. It's purely nice to have if you also want to trade fiat currencies which I'd love to do in a decentralised way and simply provide liquidity to a pool and earn the fees.

[@stephenparker7997]

Excellent questions and answers. Thanks

[@LearnCardano]

Thanks for the comments.

[@blocktech]

Stablecoins would revolutionize Defi on cardano

[@LearnCardano]

It will change the TVL allowing users to park assets

[@TheWSPepe]

In the video it was said that later on other tokens can be used as collateral such as Wrapped BTC, I was wondering how that would affect the mechanics and whether or not there is anywhere I can learn more about this topic ?

[@LearnCardano]

We're just getting a little bit of information around this now so we will see how it all falls into place over the next release.

[@brodyalden]

Thank you P!

[@einemc240]

I didn't hear about the oracle they use. Link? C3? Or something else.. I'm gonna do some more deep dive in to it and I'll try the testnet for sure. Thx.. as always very informative! I've looked the whitepaper a couple of months ago, but finally I've grasped the idea. Thanks again!

[@LearnCardano]

No problem. The white paper I’m still going through. That interview helped me.

[@elliott6127]

Bring on the supply shock

[@LearnCardano]

might happen

[@mortyeyepatch8474]

I have read the WP but I am not able to estimate the ratio of “leverage” to Cardano that SHEN holders are exposed, I am aware that under 400% ratio SHEN holder can not be liquidated but what would be the impact of a drop of 50% in ADA to the SHEN price? SHEN price should be X ADA in the equity pool / X SHEN in circulation…

[@LearnCardano]

It’s super hard to visualise some of the scenarios. Best to ask the DJed team themselves

[@leroyessel2010]

. Currently Tether Stable Coin has global 24 hour volume of $25 Billion and Market Cap of over $70 Billion. If for any reason Tether falters the logical alternative would be DJED Stable Coin that has unique features other projects can't compare with.

[@Robbo0090]

9:00 What i dont get is why people would invest ada for shen before any djed could be minted and thus begin providing liquidity to generate the fees, which is supposed to be the incentive for minting shen in the first place. its a bootstrapping problem.

[@LearnCardano]

Price speculation and continual Ada rewards. If you’re Ada still gets staking returns and you also get a new token that will fluctuate in price then why not.

[@agnimosaics]

Very exciting

[@LearnCardano]

Yes it is

[@cryptolabidn]

have u done any podcast about USDA ?

[@LearnCardano]

Not much info on it yet.

[@rustihammer9281]

Sweet! We need Djed!

[@LearnCardano]

We need stablecoins for DeFi

[@KingsRight]

If it's autonomous, why is it when i go to the DJED website to mint shen and it says on their website that i can't do this due to my region i live in? That is a sign it is regulated if it's concerned with my location.

[@LearnCardano]

You can go to the write your own transactions to interact with the smart contracts outside of their website or use a VPN. They need to have that layer as they are a company and can be put under scrutiny of the SEC. Decentralised isn’t the same as autonomous

[@KingsRight]

@@LearnCardano how do write our own?

[@carlosthomas6717]

Great content mate

[@LearnCardano]

Thanks. And thanks for watching and commenting.

[@tim3wade4]

when can we start minting Shen and Djed????

[@LearnCardano]

Some time this month we will be able to start using the platform. Jan 2023 is the month aimed for launch

[@DennisWegewijs_CyclingtheAlps]

Peter, great video. Do you know what the difference is between Djed and iusd?

[@LearnCardano]

I mention it here Cardano & Its' Stablecoins - iUSD, Djed, USDa, SigmaUSD, dUSD, USDm kzbin.info/www/bejne/eYWlnql3oNhofqM

[@trefazol]

Where to storage my COTI? The viper KYC don't work. No answer about registration on COTI pay viper. Is the only way for this?

[@LearnCardano]

I have no idea. I don’t have viper or COTI on a wallet.

[@onegrumpychef2836]

quick question, but shen has an independent market price, so if i swap x amount of ada and mint shen, 1 year down the road, both prices rise at a different amount, what is preventing impearment loss when i burn shen, i could end up with less ada than i swapped orginallly?

[@LearnCardano]

Correct. You could end up with less ADA for selling hit you could have more rewards paid in Ada. That is the risk and reward for Shen holders. Fees and staked Ada rewards for Shen holders

[@decentralizedvietnam]

great

[@Ctaylo19.007]

Thanks

[@LearnCardano]

You’re welcomed

[@rogeliojr.garcia1958]

Pete, Is minting of shen be available on all country???

[@LearnCardano]

I don’t think it’s restricted as it is a decentralise protocol and not regulated like USDa

[@MrBlahgBlagh]

We see the strength of SigUSD from Ergo, let's bring it to Cardano w/ COTI/DJED

[@LearnCardano]

Yeh. It’s strong and a proved algo stable coin there on ergo. Just the same for us on Cardano

[@jack.stokes]

Hiya. What if they launched when ADA was $3 then it dropped 10x to 30 cents like it has done over the last year, but in a shorter amount of time. There wouldnt be enough ADA to pay back the djed burners no? even with 4x + collateral and especially if panic ensued...

[@marlonjohnsol4086]

so what try to watch the video again and again for you to understand!!

[@winder_1910]

That’s when the rug happens or before

[@LearnCardano]

Ada dropped for sure but how much of an effect would it have on DJed? Not sure myself. As Shahaf was describing in the video, UST was a death spiral as the Luna token was directly correlated to the UST. If one drops so does the other. In this case ADA price isn’t related to Djed price. It’s only used as collateral. SigmaUSD followed the same downward trends as the rest of the market and didn’t miss a beat. I’d expect DJed to behave the same was with the previous bear market.

[@winder_1910]

@@LearnCardano told you so.

[@JockeyOfCrypto]

The bit link seems to be not working.

[@LearnCardano]

Just tested here. All working for me

[@Fotis420]

All I hear is supply shock of ADA incoming 🎉

[@LearnCardano]

maybe

[@DaveRogersEsq]

This makes me a bit nervous. Can you spell Terra Luna? Not a problem here. OUR stable coin is different. Sounds exactly like what Do Kwon was saying back in the day.

[@LearnCardano]

It's why I did the interview. I wanted to understand the differences between Djed and UST and understand why other algo stables like Sigma didn't crash even with a 90% drop but UST did.

[@DaveRogersEsq]

@@LearnCardano I understand. But sigma never took the guerrilla onslaught that luna did. I can see that it is different, but I worry there's just another vector/vulnerability waiting to be exploited. One thing I have learnt about people who write smart contracts: they are not smart enough 😁

[@tommyboy4189]

Meld not a partner? That will add to the meld fud

[@LearnCardano]

Dunno

[@Mor4me]

So why do I need Coti ??? How do I get $shen

[@LearnCardano]

you don't need COTI, if you have it, some of the fees will go to COTI holders. You get SHEN either on the market on DEXes or you can mint it

[@Mor4me]

@@LearnCardanothanks for your reply. in his interview with pey from Bloom he said everything goes to shen. So at this point it seems coti was a distraction or the remaining of a old idea. So for my self i’m wondering if I just bought the hype or there’s something else I missing. Thanks again

[@arthurh1969]

The DJED/SHEN thing has been explained to death already. We need to talk about the 2023 roadmap and when US users can pay for things with NFC via COTIPAY. When is that gonna happen? Where's the buyback plan?

[@LearnCardano]

No idea. I don’t know what’s happening more have I followed COTI ecosystem. I did this interview as I was getting a huge amount of questions around Djed and stablecoins.

[@Theferg1]

What is the buyback plan? Thanks

[@nympho25]

link doesn't work

[@LearnCardano]

It’s DJed.xyz

[@sawdustcrypto3987]

Not too excited about 10%-15% rates and talk of farming being thrown around here. I don't want this to be degen territory, I want it to be a stable long-term project which adds health and utility to the Cardano ecosystem

[@LearnCardano]

yeh there has to be a high incentive to fund the reserver for the Djed stable coin. The more reserve the more stable coin is possible.

[@hakimr9697]

A year for an algorithmic stable coin. In one year solana started and lunched an now its dying same thing for luna 😢. Why projects on cardano take so much time . ⏲️ why can't we make things faster and betterment cheaper

[@LearnCardano]

Cos we want to do it right

[@laleau92]

@Hamim R I get your impatience. So I would encourage you to understand that these things compound over time. No one expected Cardano to become so prominent in NFT space a year after its smart contract release and yet it happened. Doing things right compounds over time.

[@LipovBog]

@@laleau92 indeed!

[@nidalalghad4959]

Because Cardano is not aiming for a hype but for making a solid platform that can last for decades from now without major change in the platform like Eth is doing now. Solana is the most hacked blockchain in crypto space, we don't want to take them as a model at all.

[@lukahribovsek5563]

Free Palestine!

[@LearnCardano]

That would be great but not the best place for that message here.

[@lukahribovsek5563]

@@LearnCardano been following you for quite a while, didnt want to write how every major scam in crypto space (celsius, ftx, etc..) had Jews playing a major role in it, so instead i wrote "free Palestine"! Never trust a jew, they all believe we are "goyims" which means cattle, cattle meant to serve them.

[@jimmynewza]

$ADA no progress whatsoever on this lame coin. $ADA much noise about nothing, the Vasil upgrade has brought nothing but nothing at all in terms of price and will also bring nothing to very little in terms of technology, ADA is hot air even in the future... get out of there fast!

[@LearnCardano]

Hey Jimmy. Good to see you here again. You should spin your comments through that ChatGPT thing to get more various in your comments

[@winder_1910]

This will be a rug pull , watch

[@LearnCardano]

why do you say that?

[@winder_1910]

@@LearnCardano told you so, just Wait until SEC Makes it ‘Official’

[@winder_1910]

@@LearnCardano don’t say I didn’t Warn you when the Withdrawals start.

[@workformoney6788]

after FTX arrested , your turn cardano ADA and coti , your turn will be next .

[@LearnCardano]

Why?