Earn Impressive Returns and Liquidity Rewards by Investing in Djed's SHEN
Are you tired of your crypto just sitting idle in your wallet? Djed's SHEN may be the solution you've been looking for. Since its launch, SHEN holders have enjoyed impressive benefits, including over 104,000 ADA distributed as delegation rewards in the last 3 months alone (reflecting a ±4.3% annual return).
by COTI Channel
Djed reached 30 million ADA in total liquidity in one week, which exceeded the team's expectations. What's more? The platform has been well received by users. The network has seen 2.1 million Djed minted and 158,000 Djed burned. In addition, 24 million SHEN have been minted and 1.1 million SHEN have been burned. COTI's average reserve ratio has been a strong 629%, which is fantastic news for anyone looking to mint and burn Djed and SHEN.
But that isn't all. Early adopters who purchased SHEN shortly after the platform's launch earned an impressive yield of over 6% in just three months, resulting in annual returns of more than 25%. This yield consists of delegation rewards accumulated during this period (approximately 1% in 3 months) and SHEN price appreciation on the platform due to fees collected (approximately 5% in 3 months).
COTI also received its first batch of operational fees, which was streamlined into the COTI Treasury as participant rewards. The rewards were substantial, with the Max APY reaching 118%.
The total value of DEXs locked in is around 3.4 million ADA for Djed and 6.1 million ADA for SHEN. And, in case you haven't already heard, COTI has some exciting news to share. Bitrue has recently announced a staking campaign for both Djed and SHEN, and COTI has since been listed on CoinMarketCap and CoinGecko, courtesy of DefiLlama.
As if that wasn't enough, users who deposited their SHEN into liquidity pools on DEXs like Minswap and Wingriders received an average of 10% APR in liquidity and farming rewards during this time period, offering even more benefits.
COTI plans to enable multi-wallet support in the coming weeks so that users can interact with djed.xyz from even more places, and they're also adding delegation information to the website so that users can keep track of their rewards. Furthermore, COTI is working to secure additional partnerships that will assist it in spreading Djed even further.
COTI's Treasury Governance Token, gCOTI, is now available
On February 14th, 2023 at 12:59:29 UTC, gCOTI - the first CMD token on COTI's MultiDAG 2.0 - was minted for treasury governance. The TX Hash for the minting of one billion gCOTI tokens, according to COTI, is 6b40783d1258cf00dfaed25d1653ba7464f246fa034f6d6b781d4b35f100985f. As part of the upcoming airdrop campaign, COTI community members and Treasury contributors will receive a free and equitable distribution of gCOTI tokens.
Treasury participants benefit from governance rights, an APY boost, and liquidation participation with gCOTI. COTI's Treasury 2.0 litepaper explains the benefits in greater detail. Holders have the ability to debate, propose, and vote on Treasury issues, and depositing gCOTI increases APY and rewards shares.
Extending the Treasury beyond $COTI and implementing new ideas will aid in the growth of COTI's community. The locking mechanism in gCOTI will also be continuously upgraded with new functions and use cases. To ensure security, tokens are distributed among 15 wallets and will remain in those wallets until distribution.
Djed Emerges as the 4th Largest Project on Cardano Network
Djed has quickly become one of the most significant projects on the Cardano Network. In less than a month since its launch, Djed has become the 4th largest project overall, with more use cases being implemented every day.
by COTI Channel
One of the primary reasons for Djed's success is its focus on stability, which has allowed COTI to reduce the mint and burn minimum amounts of DJED and SHEN. Minting minimum amounts have been reduced from 5,000 to 1,000 for both DJED and SHEN, while burning minimum amounts have been reduced from 1,000 to 200 for DJED and from 2,500 to 500 for SHEN. Operational fees have also been lowered from 100 ADA to 25 ADA, making it more accessible to a wider range of users.
Another encouraging development for SHEN holders is the start of the first round of delegation rewards distribution. Eligible SHEN holders who held their tokens during the first snapshot on February 5th will be rewarded, regardless of whether the token was minted on Djed platform or accumulated elsewhere. The next snapshot will include SHEN holders on Wingriders and Minswap, with users on other DEXs to follow shortly.
The delegation rewards section where SHEN holders can check the status and amount of their rewards will soon be available on djed.xyz.
by COTI Channel
COTI has recently made several significant improvements to the Djed protocol's user interface, making it more user-friendly and accessible for everyone. One of the most notable improvements is the addition of a mint/burn amount slider, which displays both the minimum amount required to mint/burn DJED and SHEN, as well as the maximum amount available based on the user's wallet balance. This new feature makes it easier for users to manage their funds and participate in the Djed ecosystem.
In addition to the new user interface improvements, the COTI team has also completed its integration with Elliptic services. This integration ensures Djed's compliance and prevents bad actors from using the protocol. The team has announced that the integration has been successfully completed, providing even more security for Djed users.
These updates are part of COTI's ongoing efforts to make the Djed protocol more user-friendly and secure. As the adoption of Djed continues to grow, we can expect to see more improvements and updates to the platform.
NMKR Integrates DJED's Overcollateralized Stablecoin
With a trading volume of 677 million ADA and counting, Cardano's CNFTs have quickly become a force to be reckoned with. To meet the growing demand for CNFTs, NMKR, the largest NFT infrastructure provider on Cardano, has launched a minting platform, enterprise products and bespoke NFT marketplaces.
But NMKR isn't done yet. With the integration of DJED and SHEN, NMKR users can now transact in a stable environment, shielding both buyers and sellers from market volatility. This implementation, along with the ability to mint NFTs from Cardano native custom tokens, will eventually drive NMKR and NFTs to mass adoption.
NMKR's goal is to make NFTs available to everyone, and with their upcoming custom marketplaces, they're well on their way to building a large ecosystem of NMKR-powered niche marketplaces. Don't let your crypto sit idle; put it to work with Djed's SHEN and start earning impressive returns and liquidity rewards today. So, stay tuned for more information and join the CNFT revolution right away!
gCOTI campaign ends
After a successful 14-day run, COTI, the innovative blockchain platform, has completed the ERC20-based token phase of its gCOTI Airdrop Campaign. This marks the end of the first two phases of the campaign and an important turning point in the distribution of COTI's Treasury Governance token, gCOTI.
COTI has released the latest numbers on both phases, revealing that users deposited a whopping $26 million USD in total, consisting of 367 million $COTI and 45,422 USDT/USDC through a total of 4,238 deposits. A remarkable 87% of participants from the Native campaign have migrated 100% of their Treasury deposits to the campaign, and 84% of participants opted to lock their deposits for the full 360 days. This has helped to increase COTI's Total Value Locked (TVL) to $39 million USD.
COTI also witnessed an impressive 3,138 new VIPER Wallet applications since the campaign was announced in March. Participants of both campaigns will receive a total of 82 million gCOTI tokens based on the size and duration of their deposits, with 57 million gCOTI allocated for the Native campaign and 25 million gCOTI for the ERC20-based tokens campaign, including 2 million gCOTI early bird bonus and 500K gCOTI early bird bonus, respectively.
In addition, the early bird bonus for both programs will be shared among 345 campaign participants. Participants can expect to see how much gCOTI they are entitled to in the UI within the next few days, and the rewards will be airdropped to their VIPER Wallets on June 1, 2023.
But the campaign is far from over! COTI has announced the upcoming Exchange-Based $COTI ERC20 Campaign and plans to reveal its exchange partner shortly. To ensure fair participation, interested users will have plenty of time to plan once the details are revealed.
COTI also intends to reward community members during the airdrop's Community Campaign phase. Members will be able to earn gCOTI airdrop rewards by completing designated tasks that support COTI's ecosystem and social networks during the campaign. In the coming weeks, more information about this exciting phase of the campaign will be made available. STAY COTI!
First published on Feb 8, 2023