What is EpoxyDAO?
EpoxyDAO is a cross-chain Decentralized Finance Platform (DeFi) that merges all the existing stablecoins and issues a standard stablecoin PEX and its variant eUSD. EpoxyDAO is completely decentralized and managed by the community through Epoxy Governance powered by the governance token EPX. EpoxyDAO is a partial open source project and a Decentralized Autonomous Organization (DAO).
A Decentralized Bank
EpoxyDAO functions like a bank where you can deposit your various currencies to get one standard currency. The key difference here is, unlike other traditional banking systems, EpoxyDAO is completely decentralized and managed by people around the world who have the governance token EPX. Right now there are a lot of stablecoins and new ones are being introduced frequently. Most of the time users get confused while selecting a stablecoin. In practical life, we never need hundreds of variants of the same thing, we prefer only one standard version. So EpoxyDAO aims to merge all the variants of USD pegged stablecoins and have one standard version.
A Decentralized Central Bank
EpoxyDAO has been designed in a way that it can be used as a central bank. Traditional banks from the real world can actually use EpoxyDAO and do the interbank transactions and other transactions more efficiently. Banks can issue their own fiat backed ERC20 collateralization tokens and issue PEX and eUSD as standard or common currency.
PEX is more efficient as a reserve currency and eUSD is more efficient as a transaction currency. Collateralization token providers can be seen as the backers of PEX and eUSD. EpoxyDAO rewards EPX tokens for issuing PEX.