Patrick explained that Epicenter is an open-source, decentralized finance (DeFi) ecosystem that includes lending, staking, swapping and payments, with on and off rails to fiat, precious metals and the equity markets. The ecosystem provides a monetary framework for decentralized finance, allowing globally accessible financial services to be created and platformed in a matter of minutes. The Epicenter goal is to dramatically lower the barriers to entry for both producers and consumers of such services.
The ecosystem rests on a foundation of three interlocked, composable components: Epic Cash, the EUSD stablecoin and the ECR token:
-Epic Cash is a blockchain-based store of value, designed to be private, lightweight, fast and efficient.
-The EUSD token is soft-pegged to the US dollar: one EUSD is always redeemable for $1 worth of Epic Cash.
-ECR is the governance token for the system; through voting rights, ECR holders tune the system parameters so as to maintain the EUSD soft peg.
EUSD tokens can circulate on 32 different smart-contract blockchains, including Ethereum, Polkadot, Binance Smart Chain, Tron, Avalanche, Solana and many more.