ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

(Press release – Podgorica, Montenegro, June 9, 2023)

At EDCON 2023 in Montenegro, the Ethereum Reserve Dollar (“ERD”) team introduced its innovative decentralized lending platform and USDE stablecoin to the industry. ERD is a lending platform that allows users to borrow USDE, a dollar-pegged stablecoin native to the platform, using liquid staking derivatives (LSDs) and DeFi tokens as collateral. The protocol maintains a minimum collateral ratio of 110%, striking a balance between decentralization, capital efficiency, and price stability.

In the fast-paced world of blockchain and cryptocurrency, the demand for fully decentralized stablecoins is growing. The challenge was to simultaneously achieve capital efficiency, price stability and decentralization, a combination that has proven difficult to achieve.

Many attempts have been made to create stablecoins that are decentralized and capital efficient. However, these efforts often lead to huge price fluctuations, causing decoupling and crashes. The industry is thus left with a choice between capital efficiency and decentralization, with price stability being a critical requirement for any stablecoin’s survival and expansion.

Ethereum Reserve Dollar is designed to meet these challenges. A fully decentralized ERD, providing a more secure solution to the dominant centralized and semi-centralized stablecoins in the market. It uses a fully decentralized lending protocol and a powerful filtering mechanism, allowing users to borrow USDE using LSDs and DeFi tokens as collateral. The platform secures loans through a stability pool containing USDE, which allows instant liquidation and bypasses the need for liquidators to prepare USDE or engage in a complex auction process. Moreover, the protocol design allows users to borrow with only 110% collateral, achieving the perfect combination of decentralization, capital efficiency, and price stability.

Notably, ERD also aims to provide greater value as a governance token and offer decentralized assets distributed at scale on the ETH network, addressing limitations noted in similar protocols, such as those of the Liquity protocol.

“Given the crashes seen in many failed stablecoins, the depeg of USDT in 2022 and USDC in 2023, the industry is still searching for a truly decentralized, capital efficient, and robust solution,” said Steve Hopkins, Chief Marketing Officer at ERD. . “ERD is this and much more; it is a solution designed to become a truly decentralized backup asset on the Ethereum network. We believe that ERD brings an important step forward in blockchain technology and DeFi. We are excited to share it with the world.”

The ERD team will be launching their testnet event on June 12, 2023. This event will provide the opportunity to experience the unique features and benefits of the platform firsthand while giving early adopters a say in the upside of the project’s growth.

The ERD protocol is set to redefine the stablecoin landscape. With its unique features and benefits, it offers a promising solution for efficient and decentralized lending. The team encourages everyone to participate in the upcoming testnet event and experience the future of DeFi.

For more information about the ERD protocol and the upcoming testnet event, please visit the official website at https://erd.xyz/ And follow the project on Twitter at @tweet.

About ERD

ERD It is a decentralized lending protocol that enables users to borrow in USDE, a stablecoin pegged to the US dollar, using LSDs and DeFi tokens as collateral. It aims to address the dominance of centralized stablecoins and offer a truly decentralized and capital efficient alternative. The protocol offers a minimum collateral of 110% and secures loans in a fixed pool containing USDE and other Ethereum-based assets. The benefits of an ERD include lower interest rates, higher capital efficiency, direct redemption, and decentralization. Its goal is to become a truly decentralized backup asset on the Ethereum network.

Long live the Ethereum reserve dollar. On Ethereum, by Ethereum, for Ethereum.