ETC Grants DAO will fund the deployment of stablecoins ECSD and ERUSD
ETC Grants DAO will fund the deployment of ETC native stablecoins ERUSD and ECSD. ETC Grants DAO will provide each project with a deployment grant of 1,000 ETC, which will be allocated in stages according to the actual completion of the project and announced publicly. ECSD is a decentralized US dollar stablecoin developed by the Djed Alliance team. It's a star stablecoin project DJED that migrated from Cardano (ADA). It adopts an over-collateralization mechanism and algorithmic stablecoin contracts, operating through automatic adjustment of stablecoins and reserve coins. ERUSD is a CDP (Collateralized Debt Position) US dollar stablecoin developed by the Veritas team, drawing on the successful experience of DAI on Ethereum. It uses an over-collateralization mechanism where users collateralize their ETC assets in smart contracts to generate stablecoins pegged to their value.
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