True Seigniorage Dollar — or tsd — is a cryptocurrency whose value is designed to track the US Dollar. Unlike stablecoins that are backed by physical dollars or collateral, such as USDC and DAI, the value of tsd is designed to be maintained through market forces.

Here’s how it works, in a nutshell:

Contraction — When the market price of tsd is less than $1, the protocol stops minting new tsd, and begins offering “coupons” (debt) for sale at a premium, meaning you can buy a 1 tsd “IOU” for something less than 1 tsd. You pay for…

True Seigniorage Dollar

True Seigniorage Dollar Protocol

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