Djed Development Update

We are pleased to provide another update on Djed’s technical development. For the past few months, we have been focused on designing and configuring Djed to ensure a successful deployment. Security remains a top priority to us — to that effect, we have taken multiple steps to ensure malicious or targeted attempts are prevented immediately. We have continued to invest substantial amounts of time and resources to ensure Djed will be free from attacks and malicious behaviors.

One of the major milestones that was achieved recently is the deployment of a new version of Djed’s Plutus Application Backend (PAB) to the private Testnet.

This new Testnet deployment includes the following characteristics:

A new mechanism for user complaints and escalation:A new endpoint was introduced to allow users to submit complaints and escalate suspicious or malicious instances. Users who flag or escalate malicious activities will receive bounties (calculated as a percentage of the total fees sent to the reserve) through this mechanism.
Another feature that was introduced, is functionalities that will prevent frontrunning and sandwich attacks. Orders through Djed are sorted and processed in a highly predictable manner — with the addition of submission stamps and transaction ID. All these are also guaranteed in the stablecoin contract, where all orders will be processed accordingly. Through the use of an operator, there will be effective control of any malicious attempts — in the event that the operator deliberately omits or attempts to manipulate an order, this will be flagged on the stablecoin contract.
This update will also ensure remote submission endpoints will produce a fully balanced transaction — enabling the nami-wallet to sign and submit transactions.
The data oracle and stablecoin routines were also updated to ensure increased exchange rate flow and regular order processing. This will also help with load balancing, given that the orders can now be used to deploy and restore instances on different PAB servers.

We would also like to let you know that final specifications and implementations are underway, and the on-chain code is expected to be finalized in the next few days. Also, property-based testing activities are in progress on both the oracle and stablecoin contracts.

We look forward to sharing our progress with you as we work towards the Testnet launch.