The second iteration of the Empty Set protocol was designed to provide a stable, governable, & decentralized stablecoin. These elements are key to the ethos of DeFi and are a must for any protocol that will become a key piece of DeFi infrastructure.
In contrast to the first version of the protocol, v2 of Empty Set launches with no algorithmic or under-collateralised elements. The use of a 100% reserve ratio will ensure a smooth launch and any stability mechanisms can be introduced further down the line with the active involvement of the community.
Ensuring the DSU stablecoin is able to maintain a tight price range is paramount to the success of the protocol. This is key to providing confidence to protocols integrating Empty Set as a base unit.
Unlike centralized stablecoins that are based in specific regulatory regions that maintain blacklists Empty Set aims to have globally distributed stakeholders to ensure the decentralisation of the network.
The protocol is governable by the ESS token which has the ability to propose governance actions and vote on them.