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Dollar Protocol is a better elastic money powered by two tokens, dollars and seigniorage shares. It is the rebirth of the Seigniorage Shares paper written by Robert Sams from Clearmatics in 2014.
Dollar Protocol seeks to run a permission-less on-chain experiment to test the viability of a two token algorithmic model.
When the 24H time weighted average oracle rate of Dollars is above $1.05, the protocol distributed new Dollars to Share token holders pro rata, no action required. When Dollars are trading below $0.95, then the protocol holds an on-chain Dollar burn, in exchange for new discounted Share tokens.