The Ethos Reserve Note (ERN) is a decentralized, collateral-backed stablecoin designed for interest-free loans, stability. More
| Fully Diluted Valuation | $64,501 |
|---|---|
| 24H Trading Volume | $1,078 |
| 24H Low / High | $0.93 / $ 0.94 |
| Circulating Supply | 68.81K |
| Total Supply | 68.81K |
| Max Supply | 68.81K |
| Categories | BNB Chain Ecosystem 8 more |
|---|---|
| Founder | Anonymous |
| Website | ethos.finance |
| Socials | |
| Chains | Ethereum Ecosystem 8 more |
| Explorer | Binplorer 9 more |
| Contracts |
0x91a....71846
8 more
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| Name | Pair | OG Score |
|---|
The Ethos Reserve Note (ERN) is a decentralized stablecoin designed to maintain a 1:1 value with the US Dollar. It plays a key role in the Ethos Reserve ecosystem, offering a straightforward way to borrow, lend, and earn without relying on traditional interest-based systems.
How Does ERN Work?
1. Purpose and Use Case:
ERN enables users to access interest-free loans by borrowing against their digital assets. It's also used as a stable asset for transactions, trading, and other DeFi applications.
2. Collateralized Stability:
The value of ERN is backed by major cryptocurrencies like Bitcoin, Ethereum, and Optimism. These assets act as collateral, ensuring that ERN maintains its stability and can be minted or redeemed securely.
3. Stability Mechanism:
Instead of using interest rates or complex algorithms, ERN relies on a collateral management system. A stability pool supports its value by liquidating under-collateralized positions, ensuring the ecosystem remains balanced.
4. Yield Opportunities:
Users can deposit ERN into the Stability Pool to earn passive income. This pool helps secure the system and rewards participants through yield from liquidation operations.
What Makes ERN Unique?
ERN offers a simplified model where users pay small fees for minting and redeeming tokens rather than dealing with fluctuating interest rates. These fees are distributed to stakers in the form of Bonded OATH (bOATH), incentivizing ecosystem participation.
Governance and Staking
Governance within the Ethos Reserve ecosystem is powered by OATH tokens. By pairing these with ETH to form bOATH, users can participate in decision-making and earn additional rewards from the protocol.
ERN is a decentralized stablecoin that eliminates interest-based loans, using collateral-backed stability and a unique fee model to generate yield for users while maintaining a 1:1 peg to the US Dollar.
The founders of ERN have not been disclosed, emphasizing the project's focus on decentralization and community-driven governance.
Uniswap V3 (Optimism), Velodrome Finance v2
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