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$EUSD

Revenue-based Algorithmic Decentralized Stablecoin

Mint

$EUSD can only be minted by the protocol for the time being.
When users mint $ELP with their assets, there will be a small portion of fees charged in the form of their original assets which then goes to the EUSD-Reserve Pool as the collateral, and the protocol will then issue $EUSD of equal value (at the ratio of 1 $EUSD = $1).
Of the issued $EUSD, 45% will be distributed to $ELP holders and stakers, while 30% will be allocated to the $gEDE (Staked EDE) holders. The remaining 25% will be issued to the treasury for creating EDE LP and managing ELP assets.

Dynamic Transaction Fee

Users can't add LP to the EUSD-Reserve Pool for the time being, but users can exchange $EUSD with any assets in this pool. The swap price is obtained according to Chainlink Oracle (no slippage), with an additional dynamic transaction fee.
Adjusted according to the collateral ratio of $EUSD.
  • $EUSD collateral ratio = Total assets value of EUSD-Reserve Pool ($EUSD not included) / amount of $EUSD in circulation
  • Amount of $EUSD in circulation = Total supply - $EUSD amount in EUSD-Reserve Pool
  • When $EUSD collateral ratio >= 100% Dynamic Transaction Fee = Base Rate
  • When $EUSD Collateral Ratio < 100% 1) Swapping $EUSD to other assets, Dynamic Transaction Fee = Base Rate + (1 - Collateral Ratio) 2) Swapping other assets to $EUSD, Dynamic Transaction Fee = 0
The swap link: https://app.ede.finance/#/EUSD​
The fees received are burnt in the form of $EUSD: - When swapping $EUSD to other assets, a portion of the $EUSD will be deducted in advance for burn before trading - When swapping other assets to $EUSD, a portion of the $EUSD will be burnt before transfer to the user

Stake & Bond (function not yet available)

Stake

When the collateral ratio of $EUSD is greater than 100%, the stake option will be available and users can choose to stake $EUSD to receive the interest. The interest will be distributed in the form of $EUSD.
Interest is paid every 6 hours and the APR is updated according to the latest collateral ratio:
  • When $EUSD collateral ratio >= 100%, the APR = ($EUSD collateral ratio - 1) / release cycle
  • When $EUSD Collateral Ratio < 100%, the APR = 0

Bond

When the collateral ratio of $EUSD is lower than 100%, the bond option will be available and users can buy discounted $EDE with their $EUSD, and the $EDE token will be released linearly to the users. The $EUSD will be burnt.
The discount rate of $EDE will be adjusted according to the collateral ratio of $EUSD:
  • When $EUSD collateral ratio >= 100%, the discount rate = 0
  • When $EUSD Collateral Ratio < 100%, the discount rate = (1 / $EUSD collateral ratio - 1) * release cycle