DJED

DjedDJED

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DJED Price Live Data

Djed is the first stablecoin to use formal verification to remove price volatility. Cryptocurrency volatility is a large deterrent to mass adoption. When a crypto asset can drop or rise a significant amount. It scares businesses from paying or receiving payments with crypto because their payments can fluctuate greatly in minutes. This makes it near impossible to use cryptocurrency as a unit of exchange in our daily lives.

Djed essentially acts as a decentralized bank and uses formal methods that can be verified. It works by keeping a reserve of base coins, and mint and burning stablecoins and reserve coins. A smart contract maintains the peg to a stable asset like $USD by buying and selling stablecoins, using the reserve, and charging fees which accumulate in the reserve.