Descent Protocol
The Descent protocol is a decentralized lending protocol used to issue Dollar-Backed Currency notes (DBCN) that maintains a 1:1 peg to the value of Frontier Market fiat currencies.
The first of which is xNGN that maintains a 1:1 peg to the Naira. Each xNGN is backed and overcollateralized by a USD Stablecoin (USDC)
1 NGN = 1 xNGN
Mission
At Descent Collective, our mission is to drive crypto adoption in Markets with lower degrees of economic freedom bringing more economic freedom and prosperity to people all around the globe.
Core Belief
Unity is vital to economic and social progress We aim to unify and uplift people via crypto and redistribute power, dignity and economic returns to those who use crypto in Markets with lower degrees of economic freedom
We believe that open digital financial services are catalysts for economic independence of individuals from Nation States i.e. the freedom of individuals to earn, own and control their money. The adoption of open digital financial services will lead to economic empowerment and sustainable economic development of markets with little to no economic freedom.