Introducing True Seigniorage Dollar-TSD
Inspired by the work of Empty Set Dollar and Dynamic Set Dollar projects, we would like to introduce True Seigniorage Dollar Protocol.
True Seigniorage Dollar is a decentralized, oracle data driven stablecoin which uses a supply elasticity method around a Time Weighted Average Price (TWAP) oracle for price stability. It’s an algorithmic stablecoin which uses TWAP to stabilize the price. Our goal is to maintain the price $TSD = 1 USD in long term.
Website: https://truedollar.finance/
Telegram: https://t.me/TrueSeigniorageDollar
Twitter: https://twitter.com/TrueSeigniorage
Github: https://www.github.com/TrueDollar
Medium: https://trueseigniorage.medium.com/
Basics
- Epoch Length: 3,600 Seconds (1 Hour)
- Advance() incentive: 25 TSD
- DAO Lockup: 72 Epochs
- LP Lockup: 24 Epochs
- Source: Uniswap USDC/TSD pair
- Method: Uniswap V2 Time Weighted Average Price (TWAP)
- Oracle Minimum: 10,000 USDC
- Period: 1 Epoch (1 Hour)
Governance
True Seigniorage Dollar Protocol allows the community to submit proposals and vote for any changes, either removing existing features, adding new features or adjust peripheral functionality. The voting can be done by the TSD token holders. At the protocol launch, there will be no admin keys or any way to influence it without changes being actioned by a governance process. This made TSD a fully decentralized protocol from unset.
Our Plan
We will launch TSD at 4:00 GMT+0 / 1 January 2021
Our plan is to pre-mine only a small number of tokens (half amount of ESD and DSD premined) and they will be placed in lock for DAO rewards and also will be used for the initial liquidity for the USDC/TSD paid. These tokens are locked up hence there are no hidden supplies!
Why TSD?
We believe in the future of algorithm stablecoins like $ESD, $DSD. We also see the problem that long epoch time can lead to unstable value of the tokens. This is our experiment to explore whether fast epoch time can adjust the price better or not. So please DYOR before investing in our project.
