EOSDT
EOSDT is a stablecoin with EOS as collateral
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Hunter's comment
EOSDT is a USD stablecoin with EOS as collateral.
To generate (borrow) EOSDT you have to lock some EOS as collateral in your cdp (collateral debt position)
The concept is similar to Maker/DAI but for EOS, when you want your EOS back you have to give back EOSDT and pay a small fee in NUT (the governance token)
Why another stablecoin?
- TetherUSD & C. you have to trust Bitfinex and banks, in EOSDT the value is auditable looking at smartcontract state.
- DAI it works on Ethereum and you have to pay Ether fee to transfert it. EOSDT, like other EOS token, do not need to pay a fee per transaction
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