What is TSD? (True Seigniorage Dollar)
True Seigniorage Dollar (TSD) is an algorithmic stablecoin built to be the reserve currency of Decentralized Finance.
The protocol is centred around an ERC-20 token: TSD.
This token acts both as the stabilized dollar and as the governance token for the protocol.
In order to self-stabilize, the protocol uses voluntary supply expansions and contractions around a Time Weighted Average Price (TWAP) oracle from the incentivized trading pool on Uniswap.
Features
TSD has composed a number of different mechanics from various projects into a single protocol. This combination gives it unique features.
＊Decentralised — Only upgradable via on-chain token governance
＊Self-Stabilising — Uses an on-chain price oracle
＊Composable — The token is a plain ERC-20 token which acts as a stablecoin & a governance token
＊Opt-in Supply Adjustments — All supply expansions & contractions are incentivised & voluntary
How does TSD differ from other stablecoins?
True Seigniorage Dollar’s protocol was designed by taking elements from numerous pre-existing protocols to produce a balanced protocol that avoids the pitfalls of other protocol designs. The resulting protocol sidesteps the centralisation risks of USDC, USDT, & TUSD, attempts to avoid AMPL & BASED’s “death spirals”, the over-collateralisation requirements of sUSD & DAI, and, most importantly, it integrates seamlessly with existing DeFi protocols.
How does TSD become a sustainably useful token?
For TSD to become a sustainably useful stablecoin like USDT or DAI, it must begin to be accepted as currency by DeFi and other applications on the Ethereum protocol. In periods of volatility, the token’s utility may be diminished. However, as the protocol matures the volatility will reduce increasing its utility.
Who created True Seigniorage Dollar?
The original founding team is anonymous. However, if you’d like to contact them you can email them here: truedollar@protonmail.com
Who controls True Seigniorage Dollar?
Since launch True Seigniorage Dollar has had on-chain governance. This means that any changes or upgrades to the protocol need to be voted on by the community of token holders before they are enacted.
