ENDURIO

The only Decentralized Trustless Stablecoin.
Where nobody owes anyone anything.
With elastic supply that always matches the market demand.

No more. No less.

Endurio Consensus

ASIC-Resistant by Proof of Sequential Work.
Sybil-proof by Stake.
Anti-pool by Non-outsourceable Algorithm.
Unbiasable randomized by Verifiable Delay Function.

Yellowpaper (Draft)

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Comparision

Endur.IO Basis DAI USDT
Tokens 2 3 2+ 1
Token Function NDR: high risk - high reward investment Shares: low risk - high reward investment MKR: governance token
Bond: high risk - low reward investment ETH: collateral investment
STB: no risk - no reward stablecoin Basis: no risk - no reward stablecoin DAI: loosely IOU token USDT: IOU token
Stablecoin Creation Converted from NDR with market-driven exchange rate, autonomous Out of thin air, autonomous Out of thin air, manually by ETH holder Out of thin air, manually by Tether (the company)
Capital Value Flow Circulated inside the system Given directly to Share holder possession, outside of the system Given directly to ETH holder possession, outside of the system Given directly to the company, outside of the system
Expansion On-chain public bidding Pro-rata distribution Increasing interest rate. Centralized process.
Contraction On-chain public bidding Issuing bond. Decreasing interest rate & enforcing liquidation of risky collateral. Centralized process.
Pegged/Anchored Value Basket of Values voted by SSN USD USD USD
Supply limit No No 66% of collateral ETH No

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FAQ

Economic

1Isn’t the Quantity Theory of Money only accurate over the long-term?

It is. Short-term stabilization is provided by the market itself when we can assure that the price will eventually return. In an assured sideways market, traders can profit by buying low and selling high, effectively stabilize the price even closer to the target value. Over the time, the more adopted STB is, the more stable the token price will be.

2How can a token (or two) maintain its value without collateral asset?

Neither Seigniorage Shares nor Endurio has a magical mechanic to keep or raise the price of a token by itself. Seigniorage Shares only stabilizes a token around a target value to provide more usability for retail and e-commerce user, who don’t want to take the risk of fluctuating price. It solves the chicken and egg problem of cryptocurrency (fluctuated price drives user away, leaving only investors and traders, investors and traders are highly influenced by the market, hence the prices is extremely volatile).

When we can stabilize a token price around a target value, we create the usability for it, so end users will come. Retails user doesn’t care (much) about the market, they just need a token to store and spend. The high level of usability will keep the stable-token in velocity, without being highly affected by the market force.

3What happens when the crypto market crash?

The crypto market often goes up and down together because currently they’re only used by investors and traders. There’s almost no usability yet. And investors and traders are highly affected by the market trend.

Endurio brings great usability to the crypto token, attracting usage from retail and e-commerce users. The value of the 2 tokens is endurance due to the usability of the stable-token, not by the hope and dream of investors or traders.

When the crypto market crashes, a lot of investors and traders want to cash out of the volatile asset (like BTC, ETH) to stablecoins token like Endurio’s STB. This will effectively negate the market effect to Endurio’s NDR, keeping it safe from the storm.

4What is the incentive to join the auction/bidding system?

For a better price. If the market price of NDR/STB is X, people will seek to buy it with price < X in the auction. The mechanism is auto-balanced by itself. The fewer people bidding, the better the price. The better the price, the more people will join for higher profit.

General

1How do I bid for NDR or STB?

Users can bid from the wallet. Developers can create trading bots. Exchange server can bid using RPC calls behind the scene to profit from the price difference.

Technical

2How is instant confirmation done?

By locking every input of the transaction. Each input can only be locked by a single SSN node, so if there’s a double-spend, there must be conflicted signatures by that node, which can be punished.