Empty Set Dollar - ESD

What is Empty Set Dollar?

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

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