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Empty Set Dollar logo

Empty Set Dollar

ESD

Price
$0.0025
10/4/2022, 7:53:53 AM
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Market

Market stats

Market cap

$1.1M

Volume (24h)

$20,501.88

Circulating supply

446.0M ESD

All time high

$1.63

Price change (1h)

-0.11%

Price change (24h)

-2.76%

Price change (7d)

+1.2%

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Empty Set Dollar is on the rise this week.

The price of Empty Set Dollar has risen by 1.20% in the past 7 days. The price declined by 2.76% in the last 24 hours. In just the past hour, the price shrunk by 0.11%. The current price is $0.002456 per ESD. Empty Set Dollar is 99.85% below the all time high of $1.63.

The current circulating supply is 446,012,144.976 ESD.

About

What Is Empty Set Dollar (ESD)?

Empty Set Dollar (ESD) is a community-owned stablecoin that functions as the reserve cryptocurrency of decentralized finance (DeFi). According to the document, the Empty Set protocol aims to play the role of a non-centralized bank issuing a decentralized and reliable stablecoin. The stablecoin, or DSU, acts like collateral supporting blockchain-based internet applications, also known as web3. DSU, “Digital Standard Unit” or the protocol’s primary stablecoin, is entirely backed by a reserve of low-risk assets to ensure increased stability of the cryptocurrency. The protocol encourages users to mint new stablecoin by providing collateral.

Empty Set presently accepts USDC as pledged assets to mint DSU. The protocol allows users to attract less gas price or charge to conduct and validate transactions on the blockchain when minting DSU tokens. Users can also redeem the collateral-backed cryptocurrency efficiently.

Empty Set intends to act as a wrapper for stablecoins. A wrapped token is secured to the value of a specific cryptocurrency while allowing the stablecoins to run on any blockchain network. In the case of Empty Set, the protocol reserves specific collateral and launches DSU, a stablecoin, against the guaranteed asset. Empty Set seeks to lower the risks of upstream protocols. This implies that if a stablecoin ceases to function or issues related to collateral-backing crop up, DSU can be swiftly migrated into new collateral, fueling the protocol. Empty Set wishes to favor trust-minimization, too. Hence, the protocol issues stablecoin by pledging collaterals with multiple trust guarantees. 

ESS, or “Empty Set Share,” stands out as the governance token of the protocol. Users who have ESS tokens can vote and propose improved governance plans within the protocol. Both DSU and ESS operate as ERC-20 tokens on the Ethereum blockchain. The protocol enables users to stake the tokens and earn more cryptocurrency. Users can also continue to deposit the tokens in liquidity pools to make more revenues and earn ESS tokens as rewards. Although a governance token, ESS can backstop the reserve or add a secondary source of funds to support the protocol. For example, the protocol enables additional minting and trading of ESS to increase the reserve ratio only if the community votes for it. 

According to the document, users with ESD can migrate the crypto-tokens to ESS using a wallet like Metamask or WalletConnect. 

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FAQ

What is the current price of Empty Set Dollar?

The price of 1 Empty Set Dollar currently costs $0.0025.

What is the market cap of Empty Set Dollar?

The current market cap of Empty Set Dollar is $1.10M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Empty Set Dollar?

The all-time high of Empty Set Dollar is $1.63. This all-time high is highest price paid for Empty Set Dollar since it was launched.

What is the 24 hour trading volume of Empty Set Dollar?

Over the last 24 hours, the trading volume of Empty Set Dollar is $20.50K.

What other assets are similar to Empty Set Dollar?

Assets that have a similar market cap to Empty Set Dollar include Raven Protocol, High Performance Blockchain, Dexsport, and many others. To see a full list, see our comparable market cap assets.

How many Empty Set Dollar are there?

The current circulating supply of Empty Set Dollar is 446 million.

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