Empty Set Dollar · interactive mechanism simulation

Each epoch, an oracle reads the USDC:ESD TWAP. Above $1 the DAO mints new ESD to bonded stakers. Below $1, holders can burn ESD for expiring coupons at a premium — a debt bet that only pays off if expansion returns before the coupon expires.
USDC:ESD pool TWAP: $1.000 Epoch advance() epoch 0 · bootstrap reading oracle… Bonded DAO stakers bonded: 0 ESD receive new mint & redemptions Circulating supply 0 ESD passive holders Coupon debt market outstanding: 0 ESD premium 56% · expires 90 epochs Expired coupons 0 ESD worthless unredeemed before expansion
Epoch
0
TWAP price
$1.000
Total ESD supply
20,000,000
Bonded (DAO staked)
0
Outstanding coupons
0
Expired (worthless)
0
Death spiral active — coupon demand has collapsed, expansion is frozen.
Parameters — edit me
3.0s
56%
90
+5
$1.10
Controls

Illustrative simulation. Starting supply, epoch pacing, and price path are simplified for visualization — not live onchain data or a price feed. The mechanics mirror researched ESD parameters (bootstrap oracle fixed near $1.10 for early epochs, coupon premiums up to ~56%, ~90-epoch coupon expiry). Drag the sliders or trigger the failure mode to explore how the coupon debt trap behaves. Part of The Onchain Experiment Atlas.