Yolo is proud to announce the integration of EOSDT, The first EOS-based decentralized stablecoin.
The EOSDT stablecoin and Native Utility Token (NUT) are the core currencies of Equilibrium — The framework for generating asset-backed EOSDT stablecoins. (NUT will be listed shortly after)
Built on the top of EOSIO technology, the Equilibrium framework is a feature-rich environment allowing for the generation of EOSDT, a stablecoin pegged to the US dollar and backed by Equilibrium users’ digital assets. It maintains an over-collateralization rate of 170% using algorithms enforced by smart contracts. Anyone can use the framework to collateralize their digital assets and generate EOSDT stablecoins for purposes like hedging risk, trading, online payments, and many other use cases.
NUT is the Equilibrium framework’s utility currency, and it plays an important role in every step of governance. For example, NUT holders have voting rights to change the parameters that drive Equilibrium and can vote for block producers on the EOS blockchain to receive a staked portion of Equilibrium’s collateral. NUT is also used for paying fees; To close their positions, users must repay their loaned amount, as well as an admin fee that accrues in NUT. This utility token furthermore grants access to discounted collateral.
YOLO uses the Kyber liquidity protocol to provide liquidity and increase usability for EOS-based projects, and will eventually support Ethereum-based projects as well. We have a long term objective of allowing users to use any DAPP (Decentralized Application) and not have to worry about the tokens they own or the blockchain they are running on.
We are proud to join forces with the best and most committed teams within the EOS ecosystem, and the Equilibrium team has shown not only technical proficiency and high regard for product and UX, but also a long-term vision just like ours. Welcome EQUILIBRIUM!
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