I noticed that your coin is backed by EOS (and/or BTC). In this way, it is somewhat different from dollar-based stablecoins in Ethereum. From my understanding, coins like and are actually backed by dollar reserves. What happens if the price of collapses? Sounds more like what Synthetix is doing in Ethereum.
Their website is great. I would have preferred some other name like
eosUSD that is more to the point. I understand what they were trying to do but IMHO it doesn't stick.
I would say this is not a synth, it seems it works like . They do have a stability fund for the price of collapsing. However, their main issue right now is that the interest rate is quite low, compared to DeFi on Ethereum. Unless you are long and hodl-ing , then, it is a nice little tickle.