The Market

  • Can be used as a convenient medium to settle balances between different exchanges, wallets, and even banks (in the case of USDC).
  • or be used as a way for traders to park the profit or value against other volatile cryptos like BTC or ETH.

The Value Proposition

With more building blocks merging in the DeFi economy, quality collateral is a fundamental requirement.

ESD vs DSD vs BAC vs MIC

There are several algorithmic stablecoin projects on the market. They often need to go through several rebase or expansion (price or market cap going up) / contraction (price or market cap going down) cycles so as to track the price towards a stable zone, and hopefully a stable price eventually.

Introducing Universal Dollar (U8D)

Existing algorithmic stablecoin projects have gained incredible traction and see high trading volumes and liquidity. They’ve been regarded as exciting instruments for speculation, arbitrage, and trading. But at the end of the day, they do not fulfil the purpose of being stable units of value. We need an algorithmic stablecoin that can get out of initial bootstrap volatility as fast as possible and provide a smooth expansion and contraction phase towards a stable zone. Based on the ESD success we are creating a new algorithmic superfluid stablecoin, Universal Dollar (U8D), with better capital flow by adding several unique components.

Streaming

In pre-existing projects, there has always been a risk of a sudden dump from DAO participants which are unlocking their tokens from the liquidity pool and DAO bonding, which brings significant price volatility and speculation in the run-up to the tokens actually unlocking from the DAO. Instead of just waiting in anxiety for your tokens to be unlocked from staging(after bonding), U8D gets rid of ESD’s lockups periods and allows users to instantly stream it to the wallet in small portions (a portion per block, similar to how founder shares in utility token projects are vested in tranches). Users can Unbond tokens from the DAO to Stage, and then are able to start a Stream from Stage to their wallets, so tokens will be unlocked and applied for withdrawal by a portion. The Base Stream Time is 3 days for DAO and 1.5 days for LP rewards.

Fast Streaming

There is also a possibility to have fast streaming which can reduce stream time by a factor of 2, but this also applies a penalty to the network participant (25% penalty in U8D currently in stage).

Fair Distribution

U8D will launch without a pre-mine, nor an investor or team allocation. In contrast to other implementations of this idea that had announced their launch after several days of purchasing and bonding tokens into the DAO privately, while advancing epochs without the public, we will take the fair launch a step further:

  1. There are first 10,000 U8D minted and sent to deployer address.
  2. Then deployer adds 10,000 USDC and 10,000 U8D to seed the Uniswap pool.
  3. Then received UNI-V2 LP tokens are sent to the 0x000…0 address.

Parameters

Important Time

Launch: Jan 23th 12 AM UTC+0

Contracts

  • 0x2137fFbbB279218E1a61d4483DeD9C9a017e9257 DAO (U8DS)
  • 0x888888877A18532b78d259577d00057054C50Dd8 U8D
  • 0x8cb7c5422672F5432363C628358A5e7eA6938DC2 Oracle
  • 0x78c54b20CC4C2db6E7A9758aE16579D866BA6FFD UniswapV2 USDC:U8D Pair
  • 0x111eB123d0CEeEa59A3736ae1767F9E756bE8160 LP Incentivization Pool

Important Links

Website: https://u8d.finance

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