Empty Set protocol is a community owned 'de-central bank' that issues a decentralised stablecoin. The protocol mints & redeems it's stablecoin from its reserve of assets and is governed by a separate governance token.
Using a variety of mechanism Empty Set is able to achieve a number of unique properties:
- Decentralised - Only upgradable via on-chain governance
- Community Owned - Protocols that integrate DSU are able to participate in governance
- Composable - Both DSU & ESS are fully ERC-20 compliant and composable into other platforms.
The Empty Set protocol has two tokens:
DSU is the stablecoin the protocol issues. This token's purpose is to serve as an analogue other liability backed stablecoins while offering greater decentralisation.
This token is freely mint-able from the Empty Set reserve and can also be redeemed for assets in the Reserve at the current reserve ratio.
ESS is the protocol's governance token. It can be used to vote or propose governance actions within the protocol. In addition to its governance role, it also serves as a seignorage share and collateral backstop for the protocol.
Empty Set has a number of community platforms:
- Discord - Main platform where developers, teams and community members interact.
- Telegram - Serves a similar function to the discord server. Chinese group.
- Forum - Used to facilitate governance actions and discussions
- Twitter - Provides updates on governance, partnerships and upgrades to the community.