About this explorer

Ebisu Money issues ebUSD, a dollar-tracking stablecoin borrowed against five collateral types — staked ether, yield-bearing stablecoins and wrapped bitcoin. A borrower opens a Trove — a collateralised loan — and sets their own interest rate; paying a higher rate pushes the Trove further from redemptions, the mechanism that holds ebUSD at a dollar by paying off the lowest-rate loans first.

Each row of the listing is one Trove: its collateral, its ebUSD debt, the rate its owner chose, and its status. Collateral ratios and dollar values are off by default — Ebisu states amounts in each Trove's own tokens, and those extra figures are conversions layered on top. Or compare the branches and their redemption queues.