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Description
Zephyr Protocol is an over-collateralized private stablecoin protocol inspired by the Djed Protocol and built on a Monero-based blockchain, inheriting Monero’s privacy features for all its assets. It uses a three-asset model consisting of ZEPH, ZephUSD, and ZephRSV.
Zephyr Protocol is unique because it’s the first implementation of the Djed Protocol on a native blockchain, making it the first private over-collateralized stablecoin protocol. Launched on May 29, 2023, it is a grassroots initiative with no venture capital funding.
Looking ahead, a public testnet for the Djed implementation is coming soon, with a mainnet hardfork for the Djed implementation scheduled for Q4 2023.
The protocol uses ZEPH as the base coin for collateralization. Users can mint ZephUSD, a private stablecoin backed by at least 400% ZEPH, and ZephRSV, a reserve coin, by adding ZEPH to the reserve. ZephRSV acts as shares of the reserve’s equity, with its value linked to the reserve ratio, increasing when reserves are high and decreasing when they are low. To prevent dilution, the reserve ratio is capped at 800%, beyond which no more ZephRSV can be minted.
Incentives for reserve providers include increased value of ZephRSV as ZEPH’s value rises, fees collected from minting or redeeming ZephUSD, value discrepancies between Spot and Moving Average prices added to the reserve, and a portion of the block reward added to the reserve as a pseudo-staking reward mechanism.
Sentiment Score
$ZEPH has a sentiment score of 12/100 with 55.79% upvotes and 44.21% downvotes.
Market Cap
$ZEPH has a market cap of $25M USD. It is classified as a MICRO CAP CRYPTO GEM.
Community Score
$ZEPH has a community score of 10607 with the following statistics
- Twitter Followers: 22741
- Telegram Channel Subscribers: 5353
Developer Score
$ZEPH has a developer of score of 15 with 65 repo stars, 13 repo forks and 7 subscribers. This data could be inaccurate and is based on our curated data to date.
Volume (24 hours) / Market Cap Ratio (VMR)
The VMR category for $ZEPH is HIGH with a VMC score of 0.47. The volume within the last 24 hours is $12M and the market cap is $25M. All figures are in USD
% Distance from last All Time High Price – ATH
The last ATH price for $ZEPH was $52 and the current price is estimated to be at $6.2. The current price distance from its last ATH is 88%.