Introducing EtherealUSD
A Radically New Stablecoin Coming to Radix
With the Babylon hard fork around the corner, releasing support for smart contract capabilities on Radix mainnet for the first time, the ecosystem is set to welcome a new stablecoin providing users with a predictable and efficient means of exchanging value. EtherealUSD, a stablecoin protocol being built on Radix today, seeks to fill this gap with a novel and decentralized stablecoin offering that can function as a backbone for decentralized finance.
Radix is an extremely promising distributed ledger technology which after several years of development is now poised to become a leader in the cryptocurrency space. Its special focus on addressing the specific challenges of interoperability, scalability, and user-friendliness — for both builders and end users alike — have created an exciting prospect for decentralized finance and its mainstream adoption. This emerging ecosystem is a natural fit for an ambitious stablecoin project such as EtherealUSD, and we are eager to leverage its innovative features.
EtherealUSD is itself seeking to address several challenges, namely those of the decentralized stablecoin world and the dilemmas related to capital efficiency, stability, and decentralization. Taking inspiration from the designs of MakerDAO, Liquidity, and others, as well as the lessons learned from their implementation, EtherealUSD is an effort to take the best of what’s known while innovating in areas where improvement is needed. Take a moment to review the provisional litepaper today which is currently undergoing community feedback.
Design finalization and complete documentation will be completed in Q2 2023, and a Babylon mainnet launch is scheduled for early Q3 2023. Plans for EtherealUSD to later serve as a liquidity layer powering an expanded EthrealDAO ecosystem of leverage products are also in the works, to be discussed in a future article.
More details regarding EtherealUSD and the EtherealDAO ecosystem are coming soon. Visit ethreal.systems to learn more and follow the EtheralDAO Medium for continued updates. To join the community or get involved the Discord is now open!
