The Zephyr Protocol, at its heart, is an over-collateralized, crypto-backed stablecoin protocol, a concept refined through the innovative Djed Protocol. Djed originated from a collaboration between the Ergo Foundation, Emurgo (Cardano ecosystem), and IOHK and its first deployment was SigmaUSD on Ergo in 2021.


Bridging the gap between privacy and stability, Zephyr leverages the proven mechanics of the Djed Protocol while encapsulating the robust privacy features inherent to Monero. This unique combination gives rise to the world's first overcollateralized stablecoin that guarantees privacy - a major leap in the evolution of digital currencies.