Building a decentralized stablecoin backed by the S&P 500. Live on Robinhood chain.
Website: https://own.money/
eUSD is an overcollateralized stablecoin issued against tokenized SPY.
You deposit SPY, mint eUSD against it at a minimum 150% collateral ratio, and keep all the upside on your SPY. Any holder can redeem 1 eUSD for exactly $1.00 of eSPY at the oracle price, which hard-floors the peg. Staked eUSD earns SPY streamed from the trading fees of the $MONEY token. The design follows Liquity, whose mechanism has kept LUSD solvent since 2021, adapted for stock collateral that trades on market hours.
We're live on Robinhood chain and currently have $200k in TVL.