Empty Set Dollar - ESD
Empty Set Dollar (ESD) is an algorithmic stablecoin built to be the reserve currency of Decentralized Finance. The protocol is centred around an ERC-20 token: ESD. This token acts both as the stabilized dollar and as the governance token for the protocol.
In order to self-stabilize, the protocol uses voluntary supply expansions and contractions around a Time Weighted Average Price (TWAP) oracle from the incentivized trading pool on Uniswap.
ESD has composed a number of different mechanics from various projects into a single protocol. This combination gives it unique features.
- Decentralised - Only upgradable via on-chain token governance
- Self-Stabilising - Uses an on-chain price oracle
- Composable - The token is a plain ERC-20 token which acts as a stablecoin & a governance token
- Opt-in Supply Adjustments - All supply expansions & contractions are incentivised & voluntary