![]() ![]() Through this, Djed's collateralization mechanism is decentralized and supported by users who mint Shen and put ADA into the liquidity pool. When asked by a Twitter user how the Djed stablecoin based on Cardano can avoid losing its USD peg, Hoskinson gave a short reply: "Overcollateralization."ĭjed is also an algorithmic stablecoin, like UST however, its algorithm is based on a 400%-800% collateral ratio for Djed and Shen (Djed's reserve coin). Here's "how Djed is protected from something like this" If there is an exploit, then someone will find it and break it.- Charles Hoskinson May 11, 2022 The rumors floating around about how Luna collapsed so quickly all converge to the same reality that every defi protocol and cryptocurrency face: There is a massive attack surface from hackers to traders. A little exploit is enough to break it and succeed, Hosk tweeted. He stated that an attack like that could be pulled off by anyone from hackers to traders. Hoskinson believes that LUNA's crash was the result of an attack that any DeFi protocol or cryptocurrency may face at any time. At press time, it is trading at $2.14, down 92.4%. After falling below $1, the coin surged to the $5 zone but then again went down. Meanwhile, LUNA has managed to put up a fight. He has also claimed that Cardano-based stablecoin Djed is well protected from losing its dollar peg. Here's "how Djed is protected from something like this"Ĭharles Hoskinson, founder of IOHK and Cardano chain, has suggested an explanation to today's collapse of Terra's stablecoin, UST, and its native coin, LUNA.If you purchase a product or service with the links that I provide I may receive a small commission.Charles Hoskinson Explains How Djed's USD Peg Is Stronger Than UST's Cardano founder believes that Djed stablecoin cannot lose its USD peg, unlike Terra's UST here's why Note that links included in this description might be affiliate links. This channel and its videos are just for educational purposes and NOT investment or financial advice. Invest at your own risk, only invest what you are willing to lose. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Thinking Crypto is your home for the best Crypto News and Interviews -Ĭrypto, cryptocurrency, crypto news, bitcoin, bitcoin news, xrp, xrp news, ripple, ripple news, ripple xrp, ethereum, ethereum news, cardano, ada, solana, altcoins, defi, news, interviews, podcast, metaverse, nft, nftsĭisclaimer - Thinking Crypto and Tony Edward are not financial or investment experts. #Cardano #ADA #Crypto #CryptoNews #Cryptocurrency #Bitcoin #BTC #BitcoinNews #BitcoinMining #Ripple #XRP #XRPNews #RippleXRP #Ethereum #EthereumNews #ETH #CardanoNews #Altcoin #Altcoins #NFTs #NFT #Metaverse Crypto Regulators & Politicians Interviews. □ Listen to content on Apple Podcasts - Ġ8:14 Institutional money impact on cryptoģ4:17 Updates on Dish and Boost Mobile partnershipsĢ6:25 Snoop Dogg Twitter spaces and music industryĥ3:15 Favorite blockchains outside of Cardanoĥ7:39 SEC Ripple lawsuit & Ethereum not a securityĠ1:06:42 Cardano Game of Thrones character □ Sign up with BlockFi to earn Interest on your Crypto with $250 Bonus!. □ Easily do your Crypto taxes, I personally use this service. □ Sign up for the Free Thinking Crypto Weekly Newsletter □ Get the Ledger Nano X to Safely store your Crypto. In this interview we discuss the latest updates with Cardano such as Wave Financial Launching ADA Yield Fund to Support Cardano’s DeFi Ecosystem Growth, Wingriders DEX, Wanchain integration, ERC-20 converter tool, Twitter space with Snoop Dogg, ISO20022 Plans, President Biden's crypto executive order, crypto regulations, SEC Ripple lawsuit, Tweet at Vitalik Buterin. ![]() ![]() Charles Hoskinson is the founder of Cardano (ADA). ![]()
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