Review on EOSDT by Gabriel Medina
Stable currency to reduce the risk of volatility in EOS
This is a stablecoin from Equilibrium, a project that seeks to create an environment for creating decentralized stablecoins and developing decentralized financial projects. EOSDT was born as an alternative solution to the high rate of volatility of assets and becomes the first decentralized stable currency worldwide created under the EOS blockchain. It is linked to the US dollar and is backed by the cryptocurrencies that the user has. This same is essential for Equilibrium since through it the decentralized stable currency is born, it has the mission of expanding the functions of smart contracts that will allow generating stable currencies that are backed by digital assets linked to the dollar and in turn backed by cryptocurrencies of users who use the platform.
This currency is found on the following exchange platforms:
Also, it is compatible with many wallets such as imToken. We can buy it for USD with a bank card, using the MoonPay service.
Overall, EOSDT is a decentralized stablecoin that goes into circulation when Equilibrium users lock their EOS holdings in a smart contract as collateral. Pegged to the US dollar, this stablecoin is an intuitive means of transacting cryptocurrency and also offers profitable opportunities for those who own it. EOS holders can use this coin to leverage their EOS, guard against market uncertainty, earn additional market income, and earn on transaction fees. When you use Equilibrium to generate EOSDT, your locked EOS assets will become productive.
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Pros
- Coin with a stable price in a totally large ecosystem where it can be generated. It can be used as a means of protection against the loss of funds due to volatility.
Cons
- Relatively new project that doesn't support as many major exchanges.
