Cointime

Download App
iOS & Android

Djed Update — Delegation Rewards Distribution, Lowered Transaction Minimums, Elliptic Integration, and UI Improvements

We are happy to share with you the latest updates about Djed.

Djed is now the 4th biggest project overall on the Cardano Network. As more and more use cases are being implemented, the adoption of Djed will keep growing.

Lower Operational Fees and Transaction Minimums

It has been less than a month since the launch, and the protocol works well and is stable, which was always our top priority. This enabled us to reduce the mint and burn minimum amounts of DJED and SHEN on djed.xyz, as described below:

DJED

  • Minting minimum amount — Old: 5,000 DJED -> NEW: 1,000 DJED
  • Burning minimum amount — Old 1,000 DJED-> NEW: 200 DJED

SHEN

  • Minting minimum amount — Old: 5,000 SHEN-> NEW: 1,000 SHEN
  • Burning minimum amount — Old 2,500 SHEN-> NEW: 500 SHEN.

Operational fees have been lowered as well from 100 ADA to 25 ADA.

Mint and burn fees of DJED and SHEN remain the same at 1.5%.

SHEN Delegation Rewards

On another positive note, the first distribution of delegation rewards for SHEN holders has started and rewards are currently being distributed to eligible SHEN holders! This distribution includes those who held their SHEN tokens in their wallets during the first snapshot that was taken on Feb 5th at 07:33:02 am UTC, regardless of whether they minted it on djed.xyz or acquired it elsewhere.

The next snapshot will also include SHEN holders that hold their SHEN on Wingriders and Minswap. This snapshot will be taken in the next few days and distributed approximately 20 days after the snapshot (on the 4th epoch following it). A snapshot for users that hold their SHEN in other DEXs will be also available soon.

The process works as follows:

  • A snapshot of wallets and DEXs holding SHEN is taken randomly between each epoch.
  • SHEN holders will receive the rewards every epoch without any additional action, as long as they held SHEN in their wallets / on the DEXs during the snapshot.
  • The delegation rewards section where SHEN holders will be able to check the status and the amount of their rewards will be implemented soon on djed.xyz.

The above numbers are for demonstration purposes only

User Interface Improvements

We added a mint/burn amount slider that displays both the minimum amount required to mint/burn DJED and SHEN, and the maximum amount available that is based on the users’ wallet balance.

Elliptic Integration Complete

As we mentioned in our previous update, we are integrating to Elliptical services to ensure Djed’s compliance and prevent bad actors from using the Djed protocol. We are happy to inform you that the integration has now been completed.

Comments

All Comments

Recommended for you

  • Sharp Alpha Advisors Raises $25M for Second Fund Targeting Early Stage Software Companies in Sports, Gaming, and Entertainment Industries

    New York-based venture capital firm Sharp Alpha Advisors has secured $25 million for its second fund, which will primarily invest in early stage software companies in the sports, gaming, and entertainment sectors. The fund aims to invest between $1 million and $2 million in 15 startups that fall under the category of "competitive entertainment," such as technology firms catering to sports betting, fantasy sports, streaming platforms, and video games. Sharp Alpha has already invested in London-based technology startup C15 Studio, which operates and distributes streaming channels for Formula 1 and One Championship, and plans to make further investments over the next three to five years. Additionally, the firm has a sidecar vehicle for limited partners to invest more money in individual companies within the fund.

  • Russian authorities plan to impose heavy fines on cryptocurrency miners operating in residential apartments

    Russian authorities have proposed imposing huge fines on cryptocurrency miners suspected of operating in residential properties. The authorities may also consider revising the Code of Administrative Offenses to hold those who abuse electricity accountable.

  • TheoriqAI Completes $6.2 Million Super-Seed Round of Financing, Led by Hack VC

    On May 14th, TheoriqAI, a modular AI agent infrastructure, announced on X platform that it has completed a $6.2 million Super-Seed round of financing. Hack VC led the investment, with participation from Foresight Ventures, HTX Ventures, Figment Capital, HASH CIB, Inception Capital, Antalpha Ventures, NewTribe Capital, Stateless Ventures, Bitscale Capital, Construct Ventures, Hypersphere, IOSG Ventures, LongHash Ventures, HashKey Capital, SNZ Holding, Chainlink.

  • Basel banking regulator delays crypto asset rules for banks until 2026

    The Basel Committee on Banking Supervision's governing body, the Group of Central Bank Governors and Heads of Supervision (GHOS), has delayed the compliance deadline for new rules on bank crypto assets by one year. The latest date for the project has been changed to January 1, 2026.

  • LayerZero CEO: Up to 100,000 addresses have been recognized as witches

    LayerZero CEO Bryan Pellegrino stated on social media that up to 100,000 addresses have been identified as witches. Previously reported on May 4th, LayerZero officials stated that all witch users were given a chance to self-report within the next 14 days and those who did would receive an expected distribution of 15%.

  • Niobium, a fully homomorphic encryption chip provider, completes $5.5 million seed round of financing, led by Fusion Fund

    Niobium, a custom encryption chip provider specializing in zero-trust computing, has announced the completion of a $5.5 million seed round of financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital. It is reported that Niobium is building a fully homomorphic encryption (FHE) accelerator chip and will commercialize it. The new funds will be used to explore the commercial applications of FHE in industries such as healthcare, finance, and blockchain, and also plan to showcase the solution and launch pilot projects in the fourth quarter of this year.

  • RunPod Completes $20 Million Seed Round of Financing, Led by Intel Capital and Others

    According to distributed GPU cloud computing AI training model project RunPod announced the completion of a $20 million seed round of financing, jointly led by Intel Capital and Dell Technologies Capital, with participation from Julien Chaummond, Nat Friedman, Adam Lewis and others. RunPod uses global distributed GPU cloud computing services to train, deploy, and scale AI models, thereby reducing the workload of developers. According to its official website, RunPad accepts cryptocurrency payments, but reminds users to strongly recommend setting up a crypto.com account as part of the risk management process and conducting any necessary KYC checks in advance.

  • Kaiko data: Bitcoin miners’ income has dropped sharply, and they may sell BTC to maintain operations

    The latest data from cryptocurrency research and analysis company Kaiko shows that miners are facing huge selling pressure as Bitcoin mining revenue and transaction fees decline. Bitcoin miners' income mainly comes from two aspects: mining rewards and transaction fees. However, affected by the halving of Bitcoin rewards in April (block rewards dropped from 6.25 BTC to 3.125 BTC), miners have to sell Bitcoin to pay for costs. Kaiko researchers pointed out in the report that the halving event usually prompts miners to sell BTC because the mining process requires a lot of expenses.

  • Brazil's trading volume reaches $6 billion in 4 months

    According to Kaiko Research, the correlation between Bitcoin (BTC) and stocks is increasing. After reaching a multi-year low of 0.01 in March, the 90-day correlation rose to 0.17 last week. Based on the company's research report on May 13th, the 90-day correlation between Bitcoin and stocks rose to 0.17 in the week of May 5th, higher than the multi-year low of 0.01 in March. The correlation between BTC and risk assets is lower than the high of 0.6 during the bull market.

  • Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

    Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).