December system update

December 20, 2019
December system update

We’ve updated the NUT token contract to display the actual supply, accounting for burned NUT. Only 10 million NUT tokens were ever minted, and no more will ever be created — this deflationary model suggests that the NUT supply only gets scarcer over time. Deflation comes from the fact that a fraction of the NUT supply is burned each time users close their positions, liquidate bad debt, or receive rewards from block producers.

We’ve also updated the EOSDT token contract to support multiple issuers. We’ve added support for actions like adding and removing issuers. Each issuer is capped in the supply they may issue (max_supply parameter). One prominent implication about this new feature is that different stability mechanisms inside different issuers may be applied and cross-tested on the EOSDT stablecoin.

For example, we’re currently working on the insurance liquidity pool that earns the aggregate interest rate or premium from borrowers who generate EOSDT. In turn, it provides funds to cover for position liquidations. This pool could take the form of a separate issuer contract under the EOSDT stablecoin with its own parameters and supply caps. We encourage dApp builders and EOS developers do the same — go out and try different models, ideas, and approaches to stablecoin generation, peg maintenance, and usage.

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