- COTI shared more information about the Djed Protocol as the Djed Mainnet release is getting closer.
- This comes in anticipation of the Cardano’s Vasil Hard Fork.
- More information related to the fee structure of the Djed Protocol is being released.
The enterprise-grade fintech platform empowering organizations to build their own payment solution and digitize currencies, COTI, recently shared information about the Djed Protocol. The information revealed was specifically dedicated to the fee structure or models of the Djed Protocol.
This has come as the Vasil Hard fork of Cardano is around the corner, along with the anticipation of the deployment of Djed to the mainnet. The fee model has been carefully researched and is not determined randomly.
As we are getting closer to the Djed Mainnet release, we believe it’s time to share more information about the Djed protocol and more specifically about its fee structure.— COTI (@COTInetwork) July 21, 2022
Read all about it: https://t.co/BD9rFddxyy
$COTI $DJED $ADA pic.twitter.com/w1SKCcunpT
Expert Data Scientists and mathematicians researched well before finding the right percentage that is the most advantageous for the Djed Protocol COTI Treasury users and its reserve coin holders.
The fee structure is mentioned below:
- Minting Fees – The Djed mint fee is set at 1.5% (minimum 1 $ADA) and will be collected in $ADA. The Djed minting fee will be allocated to the reserve pool, contributing to the reserve ratio.
- Burning Fees – The burning fee will also be collected in $ADA and is set at 1.5% (minimum 1 $ADA). It should be noted that the $SHEN holders can redeem their rewards by burning their $SHEN.
- Operational Fees – Though the operational fees for minting and burning $DJED are paid in $ADA, it is later converted into $COTI. Following that, the fees will be streamlined into the COTI Treasury. It is set at 0.5%.
The Shin mint fee is set at 0.2%, and the Shin burn fee is set at 0.5%. In addition to this, the platform revealed that the initial price of SHEN will be set at 1 $ADA, where the minimal price can be $0.001 $ADA.
Talking about the reserve ratio, the minimum reserve ratio is 400%, and the maximum reserve ratio is 800%.