Dollar Protocol, Magic Internet Money. A better elastic money supply protocol, powered by two tokens.
An internet native currency, stable and decentralized. Dollar Protocol is a 2 token protocol comprising of Dollars and Shares. Dollars will be the object of stabilization and Shares will be the instrument to speculate in and govern the network.
The Dollar will trade around $1 and can be used as money. If the Dollar is trading above $1, the protocol mints new Dollar coins to be distributed pro-rata to Share holders. If the Dollar is trading below $1, the protocol initiates an on-chain burn of Dollars in exchange for new discounted Share tokens.
The protocol rebases every 24 hours at 5:30pm UTC.
