Empty Set Dollar is a decentralized algorithm stabilization protocol. ESD is an ERC-20 elastic-supply stablecoin not bound by any assets as collateral. The protocol promotes the ESD price closer to USDC by adjusting the market supply, that is, every epoch, currently 8 hours, when the price is below $1, the protocol will generate debt and coupons to shrink the token supply, and when the price is above $1, the protocol will mint additional token supply to bonding users.
Empty Set Dollar is a decentralized algorithm stabilization protocol. ESD is an ERC-20 elastic-supply stablecoin not bound by any assets as collateral. The protocol promotes the ESD price closer to USDC by adjusting the market supply, that is, every epoch, currently 8 hours, when the price is below $1, the protocol will generate debt and coupons to shrink the token supply, and when the price is above $1, the protocol will mint additional token supply to bonding users.
