Apollo Protocol aims to build a decentralized stablecoin. They claim that all the current models have the volatility associated with entry into the ecosystem tied directly to the stablecoin. To combat this they are proposing a model of complete or “true seigniorage” where they have a token (Apollo Growth; AOX) that acts as an “on-ramp” into the ecosystem and absorbs volatility as new users enter. This token feeds into their vault which collateralizes the stablecoin (Apollo Stability; AOY) completely. This stablecoin is adjusted in supply with every transaction to match the collateral and maintain a faithful peg to 1.00 USD. Any excess change in supply is off-set using our “off-ramp” token that acts as a long term “share” and governance token (Apollo Share; AOZ). This share token receives rewards from our growth token also and can feed into the stablecoin if necessary (if both AOX and AOY are below peg).