EMP Money offers the first decentralised algorithmic stable coin on Binance Smartchain, pegged to the price of Ethereum via seigniorage at a rate of 4000 EMP: 1 ETH.
Now you can have high yields normally only found on risky assets, but with exposure to the world’s favorite cryptocurrency instead. EMP is pegged via algorithm to a 4,000:1 ratio to ETH.
What is EMP Money?
EMP Money offers the first decentralized algorithmic stable coin on Binance Smartchain, pegged to the price of Ethereum via seigniorage at a rate of 4000 EMP: 1 ETH.
The protocol’s underlying mechanisms are designed to acomplish the following:
•Ensure a peg of EMP:ETH is achieved
•It is maintained to establish $EMP as a mirrored, liquid asset to $ETH.
Protocol accomplishes this by introducing unique economic and game-theory centric dynamics into the market through its three tokens and a seignorage method.
How does it work?!
The protocol is based on a series of complex interactions, with the behavior of multiple stakeholders deciding the pricing dynamics of the multiple tokens of the ecosystem.
- When EMP price is over the peg, new EMP is minted by the protocol to inflate the supply in an attempt to drive the price down towards the peg. These new EMP are placed into circulation through the Boardroom and distributed to ESHARE’s holders. This increases the demand for ESHARE thus increasing the price and value of ESHARE’s.
- When EMP price drops below the peg, the protocol will allow minting Ebonds with EMP (up to a maximum debt limit).This removes EMP from the total supply, applying upward pressure on the price towards the peg. Ebonds, can then be redeemed for EMP at a premium when the price is above peg in the future.
What is the point of EMP?
In the short term, until the peg is achieved, EMP is focusing on optimizing the protocol and creating wealth for our early investors through Farms and Boardroom.
Once the peg is achieved, the system’s mechanisms will focus on stability and consistency so that EMP can function as a mirrored, liquid asset to ETH.
Ultimately, the purpose of EMP Money protocol is to provide the means for its investors, regardless of being long-time Ethereum holders, Defi users, as well as new users just coming into the space, the oportunity to remain exposed to Ethereum.
And at the same time take advantage of a whole ecosystem built around EMP that is aimed to put their precious Ethereum to work for them without the insanely expensive fees and slow processing speed from Ethereum blockchain.
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