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fix descriptions on sigmausd dapp
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minotaur committed Feb 26, 2022
1 parent fe9d3d4 commit f70a5c5
Showing 1 changed file with 1 addition and 14 deletions.
15 changes: 1 addition & 14 deletions src/api/wallet/dapps/dapps.tsx
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Expand Up @@ -4,27 +4,14 @@ import { Browser } from "@capacitor/browser";
const SigmaUSDReadme = () => (
<div style={{ textAlign: "justify" }}>
<h3>What is SigmaUSD</h3>
SigmaUSD is an instance of AgeUSD protocol for Ergo blockchain.
SigmaUSD is an instance of AgeUSD protocol on Ergo.
<br />
<br />
AgeUSD is a novel crypto-backed algorithmic stablecoin protocol
that has been created in joint partnership by the Ergo Foundation,
EMURGO, and IOG on top of the Ergo Blockchain.
<br />
<br />
AgeUSD does not rely on CDPs (collateralized debt positions)
as is the current popular crypto-backed stablecoin design pattern.
This was a conscious design decision made due to the fragility of
CDP-based protocols in the face of sharp volatility and/or blockchain
congestion.
<br />
<br />
This was epitomized during Black Thursday where MakerDAO CDPs were
triggered for liquidation due to volatility,
and then sold off for $0 due to blockchain congestion
which prevented others from bidding.
<br />
<br />
Please note that this dApp itself is not the instance;
it only interacts with the deployed contracts on Ergo blockchain
which has been deployed by other anonymous community
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