Cardano set to release 1st ever FORMALLY VERIFIED crypto-backed algorithmic stablecoin contract that acts as an autonomous bank / up to 8x over-collateralized and can thus prevent a death spiral by blocking the burning and minting of coins / can tolerate ADA's instantaneous crash of 75%
tldr; Cardano-based stablecoin Djed is set to launch next week. The only hold-up is completing the chain index syncing process, which takes 14 days but was started last week. COTI CEO Shahaf Bar-Geffen said the final rollout is expected sometime in January. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I can speak only about those that i closely follow for some time now. First one is ICX, the company behind them (Iconloop) is building an NFT blockchain, big Korean names from gaming industry are supporting them, and the goal is to make it fully interoperable. (name of the blockchain is Havah) Also, they are transforming ICX into interoperable solution (it takes them a lot of time to develop, more than 2 years of building, but goal is to make it most secure solution). I associate slow and steady approach with security and risk mitigation. ICON has already established working teams to connect ETH, Near, Moonbeam, Polkadot and others. Second one is COTI. COTI is similar to other blockchains but is different as they are using DAG technology. Other projects with DAG technology are IOTA, Nano, Hedera…) COTI is building stablecoin for Cardano, and recently they have gone through hard fork transfering their network from single coin to multi coin. Mostly building solutions for enterprises.
So far, he hasn’t been proven wrong. COTI and Cardano are working on it? So what? Is that supposed to impress people? Key word in your sentence: “working”. They have been working on nuclear fusion for 70 years, but we still don’t have fusion power. They have been working on a cure for cancer for even longer. Personally, I think there is a higher chance of getting fusion power and a cure for cancer before a magical algorithmic stablecoin is invented. And when COTI finally gets their magical algorithmic stablecoin pegged to the price of fairy dust, you feel free to put all your money into it for 50% APY. Let me know how that works out.
I still use kucoin for select alts and have never had an issue. No KYC and their uptime is fairly good in my experiences. I used to use them for staking/Lending options for DOT and COTI and never had any issues getting my coins back. I realize they’ve developed something of a sketchy reputation, but I’ve had good experiences so far.
Not the most technical savvy person nor 110% knowledgeable about the product but I like what I know! And as an ADA investor I like it even more. Charles Hoskinson of Cardano called it the spiritual succesor to Bitcoin. Charles, who still had the Ethereum Classic twitter gave the Ergo team the account like 3 months ago saying they deserved the 300k followers. The lead dev worked for IOHK/Cardano and was a co-founder of Smartcontract.com (which is now Chainlink) Very decentralized. 96% of coins went to retail/market and 4% to the foundation. No VC or big money involved. ASIC resistant and GPU minable. The guys behind ADA's stable coin (COTI/Djed) made ERGO stable coin SigUSD and its been a success. When asked if they worried about the ERGO Mixer, a type of 'Tornado Cash' like ETH had, the team was adamant on anonymity being key to crypto. Collaborating with ADA in terms of an upcoming DEX. As well as being in UTXO Alliance to share knowledge with ADA (as well as Nervos Network) Lots more..but the team is really inspired by Bitcoin and the ethos of what crypto was meant to be, not a casino with VC money funding it all. This can be a con tho as they have yet to see being listed on a top exchange. But, it's early, the team and fundamentals are solid. https://ergoplatform.org/en/
It's not a good idea to diversify that much! Max 10 different tokens will be easy to follow and handle! You should follow their news etc. Or you can just have a few priority projects and the rest would be a bag of small-cap projects. My priority picks are BTC, ETH, MATIC and OGN, COTI, and POKERFI as my low market cap picks.
its not so much that problems that exist are insurmountable, Smart contracts are very new - less than 1 year old. Ardana were given money to create their project and at no point did they say 'hey guys we are struggling here, this is taking way longer than we thought. can we have more money/time/people to build the tooling to bring it to market" they simply sent out a tweet in the 11th hour saying 'its too hard. so we give up'. In the mean time COTI has been plugging away at DJED for about the same amount of time, and with the help of IOHK they have been able to bring DJED to market.
Well, not initially. The first version of DJED will be very similar to SigUSD. The so-called "Extended DJED" is on COTI's development roadmap and it will be released (maybe) end of 2023. Extended DJED is exciting because the reserve will be able to accept a diversified set of assets, not just ADA. So that helps reduce the risk of DJED losing its peg and should increase the value of the reserve token, SHEN.
I am staking COTI in their treasury. Soon with Djed implementation on Cardano, all operational fees from Djed will be delegated among COTI stakers. Current APY is around 10.5% for x1 and 120 days lock. It offers also different versions of multipliers and locking periods. Example: x1, x2, x4, x8 / unlocked, 30, 60, 120 days Additionally, all liquidations within treasury are also delegated among COTI users who stake in treasury.
Not sure if everyone knows how many years of research and peer reviewed publications were put into this project, but it is about 4 years of work. This could possibly be the most tested, heavily researched venture that Cardano (and COTI) has seen yet. I won't be using DJED when it first comes out, I will probably wait a good year, but this is going to be massive for Cardano. Emerge is putting another one out in Q1 as well, USDA--should be great for the Cardano ecosystem. Anyone hating on Cardano is missing out. It will 100% survive until the next bull run. Pick a coin with fundamentals that will survive and buy it when it is low. It isn't rocket science.
From a company perspective, I’d say it’s probably cheaper and faster, let’s you tap into a customer base that wants to use their crypto directly. Downside is dispute handling but I guess there will be people building solutions for that (COTI for example). But I don’t know more about this thing than anyone else, not sure if it’s really geared towards payments or for signing paperwork or something else entirely.
Which of these alt coin projects are not going to make these tough times or are as good as dead in your opinion? I'm a complete noob who beats himself everyday for landing in this mess. So I'm looking for genuine advice. I have these altcoins in different proportions and I'm sitting at huge losses with them, around 80 percent. Also is selling shitcoin portfolio at huge loss and investing that into BTC AND ETH now a smart move? Should i do it and breathe easy? Will this situation ever change? Will these altcoins survive? I hope admins allow this post. * Kyber Network * Quant * NEAR Protocol * Harmony * The Sandbox * VeChain * Decentraland * Solana * Cosmos * STP network * COTI * Basic attention token (BAT) * Hedera Hashgraph * Kusuma * Maker * Yearn. Finance * Zilliqa * Tezos * Aave * Monero * Cardano * Chainlink * Elrond eGold * Nervos * Loopring * Algorand * Ripple * Polygon
Highest to lowest allocations “Slow and steady wins the race” projects: ADA ALGO Layer 0/ bridge projects DOT ATOM “SOL killer” - more decentralized. JP Morgan connection. KDA Supply chain focused. China connection? VET Promising project on Cardano: COTI
The fact that USDT hasn't gone to 0 yet, doesn't mean it can't go. People now blame Luna but when it was at ATH, when we were saying that it is not secure, the reply was that it hasn't failed yet and people trust it. Well, we saw the result. USDC is indeed a more safe option as long as Coinbase can show that it is backed by real dollars. For USDT, it is not the case. It has never been proved that it is backed by real dollars. I trust more algorithmic stablecoins than a stablecoin which can't provide proof of what is backing it up. Cardano's stablecoin has some risks indeed, but it is almost impossible for it to have a destruction like UST. Because if it loses its peg, it's not easy to keep going down. And afaik COTI, a centralized authority, will have the role of keeping its stability.
Good take on all points. The problem is out of all the teams you mentioned, Orbis is the only one I have any real confidence in as engineers. WMT, Liqwid, Charli3, COTI - these guys are grifters flying by the seat of their pants and making it up as they go along. They need to be flushed and decent teams of builders to emerge. They’re just marketers following the money. dcSpark and a few others are flying the flag, but the lack of quality engineering talent is dire.
Here we go: 1) Stablecoins aren’t available on Cardano yet and what the blockchain most likely will get is an alternative to Tether and USDC. This is a good and a bad thing. There are algorithmic stablecoins like DJED(developed by COTI) which plans to be collateralized up to 800%. But the whole system is confusing and the growth could be much slower than the ada gang anticipates. And because of all tokens being native assets and not needing a smart contract for execution; the requirements that Tether and USDC would want to compile with government regulation(like blacklisting addresses) can’t be done. That’s a lot of money to not have in your ecosystem. At least there’s decentralization. 2) Haskell as the programming language, or Plutus. A college student’s worst nightmare when it comes to programming(sort of). But functional programming is used a lot in the traditional banking system and even in aviation for high assurance code. A quality inspector in any industry will tell you that “you can’t inspect/audit quality into manufacturing or software”. Most software developers are familiar with using conventional methods to build and that’s mostly what’s used in crypto. There aren’t a lot of developers and organizations that use high-assurance software engineering to mathematically prove something works as intended. I don’t think Cardano will change that anytime soon but the platform has attracted some very talented developers and it has the second largest dev community in crypto(despite not having tons of dApps). Some of the white papers(like the project Orbis) are damn-near impossible to understand unless you are a computer scientist and software developer. 3) eUTXO model. I’m not going to say it’s better than Ethereum’s account model but it will have its own benefits and negatives. However I think with the addition of smart contracts and how Cardano’s base layer operates, you’re going to see some interesting things I bet people haven’t seen before in the next coming years. Programmable swaps, sending multiple tokens in a single cheap transaction, and even shorting NFTs are just a few ideas from the developer community. Axo which use to be Maladex has some great ideas to attract crypto-maxi’s and traditional investors on a DEX offering registered securities and cryptocurrencies. 4) Peer reviewed. We already talked about verifiable and high assurance code. This has just stalled development. The recent Vasil hardfork added a ton of new functionality! But for all of the “science” injected into Cardano much of these features should have been added last year when smart contracts released. The Cardano improvement proposals that made up Vasil were mostly things asked by the developer community. Considering the complexity with Plutus, all I can say is Let Them Build. 5) Ethereum shutting down the Cardano narratives. Charles use to say something like how changing the consensus model of Ethereum was like turning a Honda Civic into a Corvette while driving it at the same time. And it could take years! Sounds pretty complex? Well they did it. And I bet there was tons of “science” and “research” to do it. Ethereum now has a eco-friendly system, and staking rewards. But while it develops it’s own scaling solutions it has the layer 2 protocols like Polygon, the highest TVL, the name, the investors, DeFi, and a huge developer community. Hydra isn’t going to solve all of Cardano’s scaling problems and other solutions like Orbis aren’t coming any time soon. The Vasil hardfork just gave developers the tools they needed to at least launch applications that people would use, and the TVL is not even in the top 20. 6) But there’s one thing that is a huge benefit to Cardano. Proof of “Delegated” Stake. I think the community has proven that you don’t need to force the user to lock up tokens for people to have a long term view on staking to support decentralization and security of the blockchain. The majority of ada in circulation is actually being staked! And rewards can not be slashed. Plus ada delegators still retain full custody of their crypto when staking. Your money is not at risk even if a stake pool were to not compile or shut down. It’s going to be interesting to see in the future what happens to Ethereum when there is a bad actor and how users effected by that react. I think Cardano is solid but it’s time for the devs to provide products for the community to use. If things like MELD, Axo, Pavia, decentralize exchanges, Liqwid Finance, DJED, Charli3, World Mobile, etc can truly release quality applications before the next bull run; you might get a second chance at growth you missed on Ethereum(like Chainlink, Decentraland, Aave, etc).
No Defi? Looks like I've got some complex hallucinations. Most defi offer LP+farm and are as follows: Muesliswap, the first DEX to emerge, now has an L2 milkomeda in addition to typical staking Minswap Sundaeswap Wingriders Maladex Ray network Stablecoins: Ardana COTI Lending platforms: AADA Meld Liqwid Finance Just off of top of head. Bunch of NFT projects including claynation that I think are excellent. ​ You haven't researched at all.
By the way I own none of them yet, BAT: i like their product-first approach, even no-coiners use the Brave browser EWT: tokenized energy is a very promising idea COTI: payment system for mass adoption and a big partner with Cardano
Speaking of ghostchains, anyone remember COTI? Check out this explorer - [https://explorer.coti.io/](https://explorer.coti.io/) \- currently 5 minutes since the last confirmed transaction. Yet the coin still sits at position #160 with a marketcap of $130m - and not at position #1600. Check it out and tell me we're not living in a parallel universe.
I am using COTI mostly. I am staking in their treasury and then using the passive income from it to buy cheap NFTs. But that is where my usage ends. Recently i got involved in one Metaverse project (Rove) where i bought a house with ETH (mint price only) and now i hold meetings with my friends. You can also play music there and share your screen on projectory.
My prediction for today is that after the merge, there would be a slight dump that would happen in the market of which I'm going to utilize it by accumulating some ALBT and COTI. Then we would slightly recover and get back to our normal position.
I stake my ada to get rewards, and I use Minswap as my DEX. I can send multiple tokens in a single transaction which is cool. But right now there isn’t much to do. I have my MELD staked as well. I know AADA Finance came out today and I think it’s launching with NFTs bond which sounds cool. This is the first real DeFi app launching. When smart contracts came out last year everyone assumed the dApps were ready. But not all the tools were available to make them user-friendly. And many developers were waiting for Plutus v2 which comes with the Vasil hardfork. So even when Smart Contracts came out the reality is that the skill set to code in Plutus and the tools being use to create a product weren’t really there. Note that about 1000 “dApps” are in development but almost 50% of that is NFTs since they’re native assets on the blockchain as well. Pretty much Vasil should have launched along side of the smart contract release. So now we have another 4 months to a year of waiting for actually applications releasing. Better to do it in the bear market I guess. I do think the native Cardano oracle Charli3 will be functional right after the Vasil hardfork since it was waiting on read-only transactions to make funneling data more efficiently. I do think projects on Cardano are undervalued only because the teams are very solid and many of them will be available before the next Bitcoin halving. The vibe I’m getting is like watching Ethereum projects such as Decentraland, Chainlink, and Matic(now Polygon) in 2019. Although ecosystem size and circumstances are completely different. And one of the biggest issues right now with DeFi is there are no stablecoins yet that are actually on the blockchain. And while Ardana, and COTI have stablecoins coming I think most people would like to see USDC at least.
Caradno and COTI dropping DJED stable coin after the vasil hard fork---and all the projects waiting in the cut to start dropping systematically. ETH is 55% done after the merge. It is great that it will be deflationary and I can dump my ETH off a cliff (on the head of the people locked in beacon chain prison) but......gas won't change. 60 dollar sushi swaps, 30 dollar Erc20 transactions....ETH is a mess.
Only the ending part of your write-up made sense. Cryptocurrencies trading especially futures is for professional who have enough fiat. If you don't fall into this category, just simply buy a solid project and hold or stake. I'm doing that now with ALBT and COTI.
It’s the easiest basically.. jokes aside about buying and forgetting, I still remember when I bough COTI on KuCoin and I kinda forgot and I didn’t logged back in again for awhile… Then, I was seeing ATH news for COTI and remembered I had some - and boom, my first 10x back in 2020 I think it was… Now, I aim to do the same with BITS and FLD - new launches. I wanna buy from the beginning and just not think again about these bags. Let’s see if I manage to pull even more X-es.
Depends on your intended use of investment too for comparisons, e.g if we're talking Altcoin there are plenty slowly establish market share with solid interest, AXS, COTI , GMT all making 15-20% interest while also uptrending, raw value isn't necessarily king if you gain appreciation through more than one avenue on a currency, These small bear intervals are great for long term interest
tldr; Crypto Volatility Index (COTI) has integrated Chainlink Keepers’ smart contract automation service to help rebase CVI’s volatility tokens. COTI recently launched Armadillo, its new impermanent loss protection platform. The platform offers cross-chain protection that is fully decoupled from the corresponding liquidity. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Its how Bitcoin works it the most well understood address mechanism in crypto. Cardano is fast and cheap for a decentralized platform, if you want to sacrifice decentralization you can go faster/cheaper. There are so many things building on Cardano, World Mobile bringing decentralized internet to remote areas of Africa and the USA, Dish launching a reward platform, DIDs on Atala PRISM, national student identity program in Ethiopia, NFT Bonds from AADA finance, verifiable tree planting with Veritree, Djed stablecoin from COTI, multiple games building, the list goes on.