Stablecoin dossierReturn to register
Record sog_st_esd
ESD/Empty Set Dollar
Also recorded as ESD, Empty Set Dollar
- Lifecycle
- Collapsed
- Issuance
- Terminated
- Reference target
- US dollar
- Primary organization
- Empty Set SquadNo additional recorded relationship
- Launch
- Not yet recorded
- Redemption
- Terminated
- Backing
- Algorithmic or unbacked
- Stabilization
- Algorithmic supply
- Last review
- 2026-06-17
- Evidence
- 3 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.Early unbacked algorithmic dollar asset using epoch-based supply changes and debt incentives; the ESD design lost practical peg relevance and was superseded by later Empty Set architecture.
| Name | Empty Set Dollar |
|---|---|
| Symbol | ESD |
| Aliases | ESD, Empty Set Dollar |
| Asset class | Stablecoin |
| Lifecycle status | Collapsed |
| Issuance status | Terminated |
| Canonical record ID | sog_st_esd |
| Route slug | empty-set-dollar |
| Record confidence | Medium |
| Last reviewed | 2026-06-17 |
- Name
- Empty Set Dollar
- Symbol
- ESD
- Aliases
- ESD, Empty Set Dollar
- Asset class
- Stablecoin
- Lifecycle status
- Collapsed
- Issuance status
- Terminated
- Canonical record ID
sog_st_esd- Route slug
empty-set-dollar- Record confidence
- Medium
- Last reviewed
- 2026-06-17
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 3 |
| Reserve reports | 1 |
| Reserve components | 1 |
| Model-history events | 0 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 1 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Protocol Governed
- Primary display organization
- Empty Set Squad
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 0
- Ended relationships
- 1
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Empty Set Squad | Protocol or software system | Protocol or decentralized system | Decentralized | Protocol operator | Primary display | Not yet recorded | Not yet recorded | Ended relationship |
Protocol or software system
Primary displayEmpty Set Squad
- Functional role
- Protocol operator
- Relationship status
- Ended relationship
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Decentralized
- From
- Not recorded
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- Not yet recorded
- Reference methodology
- ESD targeted one US dollar through algorithmic supply and debt incentives.
- Public backing model
- Algorithmic or unbacked
- Canonical backing types
- Unbacked
- Reserve component categories
- Other
- Primary stabilization mechanism
- Algorithmic supply
- Recorded model description
- Unbacked Algorithmic Epoch and Debt Incentive System
- Redemption / exit model
- Terminated
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Historical unbacked algorithmic stablecoin; exact terminal date remains uncertain.
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- No reserve backing; algorithmic supply and debt incentivesOther · Component row documents absence of reserves rather than asserting collateral.
| Disclosure status | Not Applicable |
|---|---|
| Backing types | Unbacked |
| Summary | ESD had no reserve pool or issuer balance-sheet backing. |
| As of | 2026-06-17 |
| Profile confidence | High |
- Disclosure status
- Not Applicable
- Backing types
- Unbacked
- Summary
- ESD had no reserve pool or issuer balance-sheet backing.
- As of
- 2026-06-17
- Profile confidence
- High
| Current status | Terminated |
|---|---|
| Settlement asset | No recorded change |
| Eligible parties | None documented. |
| Retail access | Not Available |
| Institutional access | Not Available |
| Minimum amount | Not applicable. |
| Fee | Not applicable. |
| Settlement time | Not applicable. |
| Regional limits | Historical protocol asset; no current redemption program is asserted. |
- Current status
- Terminated
- Settlement asset
- No recorded change
- Eligible parties
- None documented.
- Retail access
- Not Available
- Institutional access
- Not Available
- Minimum amount
- Not applicable.
- Fee
- Not applicable.
- Settlement time
- Not applicable.
- Regional limits
- Historical protocol asset; no current redemption program is asserted.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| Not yet recorded | OpenZeppelin / Empty Set | Historical Protocol Model | Unbacked | High |
OpenZeppelin / Empty Set
Not yet recorded- Type
- Historical Protocol Model
- Assets covered
- Unbacked
- Record confidence
- High
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Specific network recorded | ERC-20 | Historical or legacy deployment | Historical Protocol Native Token | Inactive or historical | Inactive | No separate change state recorded | Legacy deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Historical primary deployment; complete contract lineage remains unresolved. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Empty Set V2 Audit Published 2021-03-03 | OpenZeppelin | Research or security report Canonical: Security Audit | Independent third-party source | Secondary source | Identity, Protocol Model, ESD, sESD, Entity and Model | Archive index or wildcard | High |
| Empty Set protocol repository Published Not yet recorded | Empty Set Squad | Technical documentation or repository Canonical: Official Repository | Technical primary source | Primary source | Successor Architecture, Protocol Repository, Protocol Lineage | Archive index or wildcard | High |
| Empty Set V2 audit by OpenZeppelin Published 2021-07-09 | Empty Set Dollar | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | V2, Historical Protocol, Protocol Version | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Exact Terminal Date | No authoritative single shutdown date for the original ESD system was established in this batch. | Unknown after review | High | 2026-06-17 |
| Complete Contract and Successor Lineage | Every ESD, ESDS, sESD, V2, and later Empty Set contract relationship is not normalized here. | Unknown after review | Medium | 2026-06-17 |
Exact Terminal Date
No authoritative single shutdown date for the original ESD system was established in this batch.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-17
Complete Contract and Successor Lineage
Every ESD, ESDS, sESD, V2, and later Empty Set contract relationship is not normalized here.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-17
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
No separate model-change event is currently recorded.
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| — | ESD loses durable peg relevance and is superseded | Depeg and peg stress | Peg Failure and Protocol Supersession | Collapsed or failed | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.- All stablecoinsCompare this record with the rest of the archive.
- Empty Set SquadDecentralized
- Event registry1 connected event recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.