Empty Set Dollar
Crypto Overview
Protocol Overview
Empty Set Dollar (ESD) is an algorithmic stablecoin protocol launched in 2020 that attempts to maintain a peg to the US Dollar through supply adjustments. The protocol uses a bonding mechanism where users can stake ESD tokens during periods of price decline to earn rewards when the price recovers.
Intended Purpose
The primary stated purpose is to create a decentralized, stable cryptocurrency that maintains a 1:1 peg with USD without requiring collateral backing. This is achieved through economic incentives and supply adjustments.
Current Usage
The project has seen significantly decreased usage since its peak in early 2021. Trading volumes and liquidity have declined substantially. While the protocol's smart contracts remain operational, there is minimal active development or community engagement.
Token Distribution
The token distribution appears relatively fair with no pre-mine for founders. Tokens were distributed through a bonding curve mechanism at launch. No concerning concentration of tokens has been identified in founder or team wallets.
Development Activity
The protocol's development has been largely dormant since 2021, with minimal updates to the core protocol. The original development team appears to have moved on to other projects.
Crypto Impact
To assign a comfort level investing in Empty Set 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 Empty Set 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.
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