Djed · reserve mechanism simulation

Users mint DJED by depositing ADA; SHEN holders provide the leveraged equity that absorbs ADA's volatility, earning fees and staking rewards. A reserve ratio band (400–800%) gates minting and SHEN purchases. Crash the ADA price to see the ratio breach 400% and minting freeze — the mechanism that has kept Djed solvent through every shock so far.
DJED buyers pay ADA, get $1 SHEN buyers leveraged ADA Djed contract mint fee 1.5% SHEN contract reservecoin equity ADA reserve 0 ADA MINTING FROZEN DJED supply 0 DJED SHEN supply 0 SHEN ADA price oracle $0.45
Reserve ratio
600%
ADA reserve
0 ADA
DJED supply
0
SHEN supply
0
Parameters — edit me
$0.45
1.5%
400%
1.4/s
Controls

Illustrative simulation. Models Djed's overcollateralized bands: DJED mints/burns against ADA in the reserve at oracle price plus a fee; SHEN holders own reserve equity and absorb ADA's volatility. When the ratio would fall below rmin, minting halts to protect redeemability — exactly what happened weeks after Djed's 2023 launch and during the October 2025 flash crash. Flows and pricing are randomized for visualization, not live onchain data. Part of The Onchain Experiment Atlas.