Introduction

The protocol consists of ELUSD and sELUSD.

Standard	ERC-20	ERC-20
Role	Synthetic dollar	Yield-bearing token
Function	1:1 mint/redeem; unit for payments/settlement	Staking share token (captures yield)
Value	1 ELUSD ≈ 1 USDT	Accreting exchange rate (index)
Primary Uses	Hold, transfer, swap, redeem	Staking yield (target 18% APY)
Waiting / Cooldown	Redemption wait: up to 2 business days (policy)	No cooldown; instant unstaking