The Eco Currency is intended to serve as a decentralized alternative to fiat currencies. Other cryptocurrencies either fix their monetary policies and admit exchange rate volatility, or attempt to limit volatility and achieve dollar parity through various policies.
Eco does not treat dollar-parity as a proxy for utility. Eco is a free-floating currency designed to achieve its aims through monetary policy transparently established and managed by a representative group of governing “Trustees” who are elected by the community of Eco holders. Trustees have one core mandate: to maximize the wealth held in ECO. As with many other token systems, Eco currency holders are also empowered to vote on community proposals and protocol upgrades.
Eco features two tokens: the variable supply base currency (ECO), and a deflationary supply token (ECOx) intended to incentivize long-term holders and bootstrap an open market signaling expectations for ECO adoption. These tokens, together with the various contracts and components that support them, form the Eco Currency Protocol.