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@t5loo76yx
Elastos launched BTCD, a Bitcoin-backed stablecoin. It aims to create a digital Bretton Woods system. BTCD is overcollateralized by 160%-200% in BTC. If BTCD trades above $1, holders burn it to reclaim BTC. This reduces supply, pushing the price down. If it drops below $1, users mint new BTCD to sell. This increases supply, driving the price up.
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