Zephyr Protocol is an over-collateralized stablecoin protocol, inspired by the Djed Protocol, which was initially developed through a partnership involving the Ergo Foundation, Emurgo, and IOHK, leading to the creation of SigmaUSD on Ergo in 2021. Zephyr combines the stability mechanisms of Djed with the privacy features of Monero, resulting in the first over-collateralized, privacy-focused stablecoin.
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