Description
Empty Set Dollar (ESD) is an innovative stablecoin in the DeFi ecosystem that employs algorithmic and game-theoretic mechanics to maintain its value relative to the US Dollar, without direct collateral backing. Operating on Ethereum, ESD uses an elastic supply model to stabilize its price, expanding or contracting supply based on demand. The current supply of ESD is over 446 million and its price has varied nominally between $0.00041718 and $0.00083151. It is actively traded across multiple markets. ESD draws inspiration from projects like Basis, leveraging elements from 0x Staking and Rho while utilizing Uniswap V2 oracles. Unique in its design, ESD serves dual roles as both a stablecoin and a governance token, encouraging community participation in its governance and supply management. The protocol underscores simplicity and decentralized governance, aiming to be a scalable, secure, and stable medium of exchange in the blockchain realm.
Empty Set Dollar (ESD) is an innovative stablecoin in the DeFi ecosystem that employs algorithmic and game-theoretic mechanics to maintain its value relative to the US Dollar, without direct collateral backing. Operating on Ethereum, ESD uses an elastic supply model to stabilize its price, expanding or contracting supply based on demand. The current supply of ESD is over 446 million and its price has varied nominally between $0.00041718 and $0.00083151. It is actively traded across multiple markets. ESD draws inspiration from projects like Basis, leveraging elements from 0x Staking and Rho while utilizing Uniswap V2 oracles. Unique in its design, ESD serves dual roles as both a stablecoin and a governance token, encouraging community participation in its governance and supply management. The protocol underscores simplicity and decentralized governance, aiming to be a scalable, secure, and stable medium of exchange in the blockchain realm.
