Dollar protocol is a better elastic money powered by dollars and seigniorage shares.
We launched out of stealth two days ago and are running an experiment to build a better money.
When Dollars are above $1.05, the protocol mints new Dollars to SHARE holders pro rata automatically (no action required). When the Dollars are below $0.95, the protocol opens an on chain Dollar burn for discounted new Shares. Read more about rebases and mining math: https://twitter.com/dollarprotocol/status/1301285211515351043?s=21
We believe single token elastic tokens like AMPL can stabilize coin price but don’t maintain wallet purchasing power. Instead of price volatility now there is supply volatility, equally bad IF you want use the coin as money.
read more about our launch: https://twitter.com/dollarprotocol/status/1300490484406800388?s=21