Autonomous Secure Dollar
Crypto Overview
Purpose and Utility
USSD is designed as an autonomous, over-collateralized stablecoin protocol aiming to maintain a 1:1 peg with the US Dollar. The protocol uses algorithms and smart contracts to manage collateral and maintain price stability.
Business Model
The protocol operates through smart contracts that manage collateral ratios and automated stabilization mechanisms. No interest-bearing mechanisms are involved in the core protocol. The system relies on overcollateralization rather than lending to maintain stability.
Real-World Adoption
USSD has seen limited adoption since its launch in 2023. The protocol faced significant challenges with its price stability mechanisms during its early days, leading to a temporary loss of its dollar peg.
Platform Development
The project maintains an active GitHub repository with ongoing development work. The team continues to work on improving the stability mechanisms and protocol security.
Token Distribution
The token distribution appears to be relatively decentralized, with no significant concentration among founders or early investors. There are no concerning vesting schedules that would indicate potential pump-and-dump schemes.
Crypto Impact
To assign a comfort level investing in Autonomous Secure Dollar from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Autonomous Secure Dollar.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.