Basics

What is Lottery Set Dollar?

Lottery Set Dollar (LSD) is an algorithmic stablecoin with an elastic supply. It utilizes a set of game theory approaches to maintain its $1 peg. Due to the market forces of demand and supply, the price may fluctuate above and below $1. Different mechanisms kick in under different scenarios to keep it as close to $1 peg as possible. It has three key features:

• Stability - LSD uses an algorithmic approach to maintain price stability around a 1 BUSD target. When price is above $1, supply is created and distributed between the lottery pool and the different shareholders (e.g. Bonders, Pancakeswap LP). When price is below $1, users are given incentives to bring it back to the $1 peg.

• Composability - Even with a dynamic system supply, Lottery Set Dollar adheres to the BSC-20 token standard. This makes it work seamlessly across the decentralized finance infrastructure and reduces the likely hood of unforeseen bugs in integrated protocols.

• Decentralisation - Since day one Lottery Set Dollar has had completely decentralized on-chain governance. Additionally, the protocol launched with 0 initial supply and no pre-mine for the anonymous founding team.

LSD vs AMPL & BASED

The resulting protocol sidesteps the centralisation risks of USDC, USDT, & TUSD, attempts to avoid AMPL & BASED’s "death spirals", the over-collateralisation requirements of sUSD & DAI, and, most importantly, it integrates seamlessly with existing DeFi protocols.

How does LSD become a sustainably useful token?

For LSD to become a sustainably useful stablecoin like USDT or BUSD, it must begin to be accepted as currency by DeFi and other applications on the Binance Smart Chain protocol. In periods of volatility, the token's utility may be diminished. However, as the protocol matures, the volatility will reduce increasing its utility.

Who created Lottery Set Dollar?

The original founding team is anonymous. However, if you'd like to contact them you can email them here: [e-mail]

Who controls Lottery Set Dollar?#

Since its launch, Lottery Set Dollar has had on-chain governance. This means that any changes or upgrades to the protocol need to be voted on by the community of token holders before they are enacted.