Presenting the ECSD and ERUSD Stablecoins Supported by the ETC Grants DAO Program

Donald McIntyre

June 12, 2024

We are happy to present the ECSD and ERUSD stablecoins supported by the ETC Grants DAO!

Stablecoins are considered basic infrastructure for blockchain ecosystems and the inclusion of these on Ethereum Classic (ETC) is a step forward in providing its ecosystem with a powerfull tool for transacting and payments.

Stablecoins are units of value or tokens on ETC that closely follow the value of a fiat currency, in the case of ECSD and ERUSD the US dollar, and may be traneferred by users to pay for things, trade, or invest.

ECSD is a decentralized stablecoin developed by the Djed Alliance, based on the stablecoin protocol Djed. They are an independent team who developed the protocol which has four existing deployments on a variety of tech stacks, including COTI’s Djed on Cardano (Plutus), SigmaUSD on Ergo (ErgoScript), Djed Dollar on Milkomeda (EVM), and Zephyr Protocol (a Monero fork with this stablecoin protocol built-in), and now it’s fifth deployment on ETC.

We invite you to learn more about ECSD and its development process by visiting the following links:

X: https://x.com/DjedAlliance

Home Page: https://djed.one/

GitHub: https://github.com/DjedAlliance

Djed Paper: https://eprint.iacr.org/2021/1069

ERUSD is a CDP (collateralized debt position) dollar stablecoin developed by Veritas Ecosystems, inspired by DAI’s success on Ethereum. It uses an over-collateralization mechanism, allowing users to collateralize ETC assets in smart contracts to generate ERUSD pegged to one dollar.

For more information about ERUSD and its progress, please refer to the following links:

Telegram: https://t.me/VeritasEcosytem

Twitter：https://twitter.com/Veritas_ETC

Website：https://erusd.io/

Medium:：https://medium.com/@Veritas_ETC

The ETC Grants DAO has pledged 1,000 ETC in funding for each of the deployments of the ECSD and ERUSD stablecoins. The funding for both projects will be disbursed in stages based on completion milestones.

We invite you to explore Ethereum Classic and to follow ETC Grants DAO to stay up to date and to build your projects!