With the upcoming launch of the new version of the protocol we’ve decided to refresh the branding. These updates represent a clean break from the initial version of the protocol and will help reduce confusion with the old mechanism design of the protocol.
Introducing the Digital Standard Unit (DSU)
Digital Standard Unit is the new stable token in the Empty Set ecosystem. Its sole purpose is to be a stable token and as such will carry no governance rights, as opposed to the single token design in the previous version of the protocol.
Users can freely mint DSU at the Empty Set DAO by placing USDC in the protocol’s reserve. The users are also able to redeem DSU at any point through the same mechanism, retrieving the underlying assets from the reserve and burning the DSU token. Therefore DSU will have an elastic supply governed only by the demand for the token by its users. The Empty Set DAO can not mint or burn DSU via governance.
When the next version of the protocol is launched DSU’s supply will be 0 and can be immediately minted from the Empty Set DAO.
Introducing Empty Set Share (ESS)
Empty Set Share is the new governance token in the Empty Set ecosystem. This token holds governance rights over the Empty Set protocol and will allow its holder to vote on and create proposals.
This token will be created when the new version of the protocol launches. Users who hold ESD or Bonded ESD (ESDS) will be able to migrate their ESD/ESDS balances to ESS. This means that ESS has a hard cap related to the amount of ESD/ESDS migrated from the initial version of the protocol, however the Empty Set DAO has the ability to mint ESS via governance.
Empty Set D̶o̶l̶l̶a̶r̶
Along with the new tokens the protocol name is dropping the word “Dollar” as we now have DSU to fill that role. It’s a minor change, but one nonetheless.
Keep Up-to Date
You can keep up with our community on the following platforms.
Twitter: https://twitter.com/emptysetdollar
Discord: https://discord.com/invite/vPws9Vp
Telegram: https://t.me/emptysetdollar
