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View ChartDjed (DJED) is a stablecoin built on the Cardano network and is described as the first over-collateralized ADA-backed stablecoin contract on Cardano. It is an algorithmic stablecoin protocol that behaves like an autonomous bank, buying and selling stablecoins within a price range pegged to a target price. The protocol is crypto-backed, holding a volatile cryptocurrency (ADA) in its reserve. DJED is also recognized as the first formally verified stablecoin protocol, with its design and stability properties proven through mathematical theorems. The stablecoin is powered by Coti and forms part of a three-coin system alongside ADA and SHEN, the reserve coin. With a circulating supply of approximately 3.29 million DJED and a total supply of 1 trillion DJED, the project operates on the Cardano blockchain and is listed on CoinMarketCap with a rank of #1411.
The Djed research paper was written and developed by the IOG team, comprising Joachim Zahnentferner, Dmytro Kaidalov, Jean-Frédéric Etienne, and Javier Roberto Diaz. The project is powered by Coti. The academic paper titled "Djed: A Formally Verified Crypto-Backed Pegged Algorithmic Stablecoin" was authored by these researchers and was published at the 2023 IEEE International Conference on Blockchain and Cryptocurrency (ICBC). The paper was received on the Cryptology ePrint Archive in August 2021 and revised in January 2024. Detailed public information about the broader core team beyond the research authors is currently limited.
Djed operates through a collateral reserve mechanism using three coins: ADA, DJED, and SHEN. DJED is minted against ADA collateral, while SHEN serves as the reserve coin that capitalizes the protocol and absorbs price fluctuation risk. The contract maintains the peg of stablecoins to a target price by buying and selling stablecoins using the reserve and charging fees, which accumulate in the reserve. The ultimate beneficiaries of this revenue stream are holders of reserve coins, who boost the reserve with funds while assuming the risk of price fluctuation. The protocol maintains a reserve ratio significantly greater than one, and a pre-launch update mentioned bringing the Djed reserve ratio to a healthy 600%, which would allow users to mint DJED. The stability mechanism incorporates a burn mechanism distinct from other algorithmic stablecoins.
Djed distinguishes itself as the first formally verified stablecoin protocol. The use of formal methods in the programming process has greatly contributed to its design and stability properties. Using formal techniques, properties are proven by mathematical theorems, including peg upper and lower bound maintenance, peg robustness during market crashes, no insolvency, no bank runs, monotonically increasing equity per reserve coin, no reserve draining, and bounded dilution. These claims are formally verified using two different techniques: bounded model checking to exhaustively search for counter-examples, and interactive theorem proving to build rigorous formal proofs using a proof assistant with automated theorem proving features. This rigorous approach to verification sets Djed apart in the stablecoin landscape.
DJED functions as a stablecoin pegged to a target price of $1.00 USD. It is used for maintaining stable value within the Cardano ecosystem, allowing users to transact and trade without exposure to the price volatility of underlying cryptocurrencies. SHEN, the reserve coin, is used to capitalize the protocol and absorb price fluctuation risk. DJED can be traded on various decentralized exchanges on Cardano, including Minswap and VyFinance, with pairs such as ADA/DJED and DJED/IUSD. The token is also convertible to various fiat currencies including AUD, BRL, CAD, EUR, GBP, HKD, RUB, SGD, TWD, and KRW. The protocol's design ensures that users have no incentive to trade stablecoins outside the peg range in a secondary market.
The Djed ecosystem is built on the Cardano network and powered by Coti. It includes the SHEN reserve coin, which operates alongside ADA and DJED. Trading activity occurs on Cardano-based decentralized exchanges including Minswap, where DJED trades in multiple pools such as ADA/DJED and DJED/IUSD, and VyFinance, where it trades in an ADA/DJED pool. WingRiders is also referenced as a trading venue. The project has academic backing with its research paper published at the 2023 IEEE International Conference on Blockchain and Cryptocurrency. The ecosystem continues to be supported by its community and is listed across various data platforms including CoinMarketCap, Crypto.com, CoinGecko, and DefiLlama.
DJED is not mined through traditional proof-of-work mechanisms. Instead, it is minted against ADA collateral through the Djed protocol's smart contract on the Cardano network. Users can mint DJED by providing ADA as collateral, and the protocol maintains the peg through buying and selling stablecoins. SHEN, the reserve coin, is used to capitalize the protocol and absorb price fluctuation risk. The reserve ratio is a key parameter, with a pre-launch update mentioning a target of 600% to allow users to mint DJED. The protocol charges fees that accumulate in the reserve, benefiting reserve coin holders who assume the risk of price fluctuation.
To keep DJED safe, users should store their tokens in wallets that support Cardano native assets. Since DJED operates on the Cardano network, it can be held in compatible wallets and verified through the cardanoscan.io explorer. Users should ensure they are interacting with official contracts and verified platforms when minting, trading, or redeeming DJED. The protocol's formal verification provides mathematical guarantees against insolvency and bank runs, but users should still follow standard security practices such as safeguarding private keys and using trusted interfaces. The CertiK rating of 3.7 provides an additional reference point for security assessment. Always verify contract addresses and official links before conducting transactions.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for DJED are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Djed (DJED) is $1.006349. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated DJED to USD rate at the top of BTCC’s price page. In terms of market scope, Djed records a 24h trading volume of $0 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $3.281521M. Its current circulating supply stands at 3.29M out of a maximum supply cap of 1T.
The price volatility of Djed (DJED) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (3.29M) to max supply (1T), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Djed (DJED) hit an all-time high (ATH) of $2.455248 on 2024-08-05 09:30, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $0.558667 on 2025-10-10 21:30. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading DJED futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($0), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s DJEDUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Djed, simply log into your BTCC account with USDT margin available, navigate to the DJEDUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for DJEDUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $1.006349), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for DJEDUSDT with zero financial risk.
Trading Djed (DJED) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for DJEDUSDT, and review its live price ($1.006349) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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