The first algorithmic stablecoin on Huobi ECO Chain (HECO)
Inspired by $ZAI but enhanced with steroids and bugs fixed
JAN 11, 2021
A capital-efficient synthetic stablecoin for DeFi
A new epoch — inspired by ZAI Finance (zai), Huo Set Dollar (hsd) is a hybrid synthetic-algorithmic stablecoin, using a self-stabilising elastic supply mechanism. Hsd is not backed by collateral or reliant on centralized custodians, avoiding regulatory and censorship risk. We only forked ZAI and fixed all the bugs.
HSD DAO: 0x08196fE3C7f48a8f535D18ef67184bb472e15962
HSD token: 0x3e1956a1d8d16b8c00c8c923638a07871c227569
HSD Parameters
As with ZAI, HSD was launched with on-chain decentralized governance so adjustments and upgrades can continuously be made to the protocol with token holder voting.
The most relevant parameters specific to HSD include:
Basics
Epoch Length: 1 Hours
DAO Lockup: 72 Epochs
LP Lockup: 24 Epochs
Source: mdex HUSD/HSD pair
Method: mdex V2 Time Weighted Average Price (TWAP)
Oracle Minimum: 10,000 USDC
Period: 1 Epoch (1 Hours)
Conclusion
The entire crypto currency market suffers a lot of volatility and there is need to have stablecoin which help those who do not want to hold volatility assets to have their assets in stablecoin. The stablecoins help those who want to maintain the value of their assets to remain the same but the advantage of volatility assets is that it can appreciate in USD value while stablecoins are pegged at a fixed rate.
Website: https://hsd.money/
Twitter: https://twitter.com/HuoSetDollar
Medium: https://medium.com/@HuoSetDollar
