@reminis237
Elastos launched BTCD,
a Bitcoin-backed stablecoin.
It aims to create a digital Bretton Woods system.
BTCD is overcollateralized at 160%-200%.
If price goes above $1,
holders burn BTCD to reclaim BTC,
reducing supply and lowering price.
If it drops below $1,
users mint new BTCD and sell,
increasing supply and pushing price up.
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