Dollar Protocol is a suite of algorithmic synthetic assets governed by Share holders. Seigniorage Shares (SHARE) is an ERC-20 token that simultaneously gives its holders on-chain voting rights to make protocol amendements and upgrades, as well as receiving seigniorage profits.
SHARE holders govern a suite of algorithmic synthetic assets, including USD, EUR, and YUAN. These assets self-stabilize using protocol-enabled supply expansions and contractions around a Time Weighted Average Price (TWAP) oracle from the incentivized trading pool on Uniswap.
As of 12/29/2020, only USD is live. EUR and YUAN will be launched after certain milestones have been met in 2021.
Dollar Protocol has a number of features that make it unique.
Decentralized - the protocol upgrades contracts and amends protocol parameters through on-chain SHARE governance
Parametizable - the protocol has multiple levers that SHARE holders can modify and change, including payout ratios, time delays and more
Self-Stabilizing - the synthetic assets uses on-chain price oracles
Multi-Token - the protocol separates users and stakeholders into distinct token groups with SHARE, USDx and xBOND
Multi-Currency - the protocol can issue multiple algorithmic synthetic assets, all of which can accrue value to Share holders
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