Shen Coin Review : Is It Good Or Bad Coin Read Our Article

Shen Coin

About Shen Coin

Shen Coin would like to thank Alexander Chepurnoy, Amitabh Saxena, Nicolas Arqueros and Robert Kornacki for discussions of this stablecoin protocol and for its implementation in ErgoScript; and they are grateful to the Ergo community for deploying this implementation on the Ergo blockchain. They are thankful to Alan McSherry, Ferdi Kurt and Jann Müller for their ongoing implementations in, respectively, OpenStar, Solidity and Plutus.

The main drawback of fiat-backed stablecoins is that they require trust on the entities keeping the reserves. This is not only a theoretical concern. Lack of transparency about the reserves and skepticism about its full-backing claim, combined with inefficient stabilization measures by Tether, have actually already caused USDT to trade for at least as low as 0.91 USD.

Shen Coin Point Table

Coin BasicInformation
Coin NameShen Coin
Short NameSHEN
Circulating SupplyN/A
Max Supply1,000,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Stability Properties

Minimal Djed enjoys several stability properties. The first one is that, in the normal reserve ratio range where purchases and sales are not restricted8, users have no incentive to trade stablecoins outside the peg range in a secondary market. In practice, there are other factors beyond the reserve ratio that may restrict interaction of the user with the bank, such as blockchain congestion and high blockchain transaction fees. Such factors would have an effect on the ability of the bank to maintain the peg range in secondary markets.

Known Minor Issues of Minimal Djed

The design of Minimal Djed described in Section 2 is the result of a non-trivial compromise between attempting to satisfy many desirable properties and taming the complexity that tends to arise from such an attempt. The outcome is an intentionally simple solution that addresses major stability concerns, as demontrated in Section 3. However, this simple solution is susceptible to a few known minor issues. These minor issues are addressed in Extended Djed, described in Section 5, which is significantly more complex, but retains the same stability principles as Minimal Djed.

Extended Djed

In this section they present Extended Djed aiming to overcome those issues. The core principles remain the same: the contract keeps a reserve R of basecoins allowing minting and burning stablecoins and reservecoins. The difference with Minimal Djed is the modified pricing model that introduces additional features helping to solve identified problems.

Property Specification

Each stability property is formalized in a specific Lustre node so as not only to facilitate individual proof analysis but also to explicitly identify the necessary inductive lemmas required for each one of them. Listing 4 shows how Theorem 5 is formally specified. Properties about the stablecoin contract are expressed in a black-box fashion (i.e., only formulated in terms of inputs and outputs of the contract).

Hence, each property node is parameterized with the inputs necessary to invoke the contract. The assert directive is used to specify assumptions under which the property hold. The two main assumptions concern the contract’s parameters, namely: parameters remain constant from one time step to the next; and parameters should satisfy the min and max values necessary to guarantee stability.

Why Choose Shen Coin?

Formalization in Isabelle

Isabelle is a generic proof assistant. It allows mathematical formulas to be expressed in a formal language and provides tools for proving those formulas in a logical calculus. The main application is the formalization of mathematical proofs and in particular formal verification of computer hardware and software.

Uncovered Issues

The Isabelle/HOL formalization uncovered numerous issues in earlier versions of the informal description of Minimal Djed and in earlier drafts of the informal proofs of the stability properties. The process of formalizing Minimal Djed and its stability theorems in Isabelle contributed to the more precise description and proofs that can now be found in Sections 2 and 3.

Ongoing OpenStar Implementation

OpenStar is a framework for private permissioned blockchains developed in Scala. The implementation of Djed using OpenStar is following the idea of off-chain smart contract execution [13] in order to have a stablecoin on Cardano that does not depend on smart contracts being executed on-chain on Cardano.

Where Can You Buy Shen Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On SundaeSwap, As It Has The Highest SHEN/ADA. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include SHEN/ADA And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Shen Coin market screenshot

Shen Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Shen Coin. Here Is Example Of Wallet Which Shen Coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Shen Coin

Where I Can Find Shen Coin Whitepaper?

You Can Find Shen Coin Whitepaper By Clicking Here.

Where I Can Buy/Sell Balancer Token?

You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Bitrue, Minswap, SundaeSwap.

What is Circulating Supply Of Balancer Token?

Circulating Supply Of Balancer Token Is N/A.