Send Protocol is directly addressing a multi-billion dollar market: migrant workers sending money back to their home countries.
It has a solid, real-world use case, and an already working product, WeSend (the first Dapp built on Send) has with more than 80,000 registered users, and a partner network offering 70,000 points of payment in Latin America.
The Send Token (SDT) is designed to be a semi-stable token with a recognized USD reference price, which is fixed during a calendar week. The weekly consensus price is determined by a logarithmic function measuring the network’s liquidity. The price of the token slowly rises as real-world adoption increases, driving real value through real demand. By taking both volatility and speculation out of the equation, SDT can indeed serve as a medium of exchange.
It is one of the very first ICOs coming from Latin America.