e-Money introduces a fast, frictionless exchange of currency-backed tokens into the Cosmos ecosystem
With the world’s largest funds pour millions into Bitcoin, the eyes of the world are again on cryptocurrencies. While Bitcoin’s global adoption seems more imminent than ever, cryptocurrencies are known for their volatility with aggressive price swings and market manipulation everyday.
e-money provides users with a solution that enables the everyday user to exchange traditional money for cryptocurrencies without the palpitation-inducing volatility. With a fast and easy-to-use global payment system supported by distributed ledger technology, users can exchange currency-backed and interest-bearing stablecoins.
Currency-backed interest-bearing stablecoins
E-Money’s stablecoins are currency-backed, dynamic linked collateral that tracks the underlying interest rate of the same currency in which they are issued. E-money users can currently choose from a variety of currencies, including EUR and CHF, with plans to implement USD, GBP and JPY in the near future.
A striking feature of the e-money-backed stablecoins is that they are interest-bearing. With a lot central bank interest rates close to zero or negative, interest rates on government bonds and bank deposits are declining; e-Money offers an experience similar to that of a savings account and each year the supply of e-Money stablecoins is inflated by 1%, with the underlying interest on the reserve being passed on to the user.
The recent launch of the e-money DEX, which supports trading on all currency-backed stablecoins as well as the platform’s native NGM token, also provides users with zero implementation costs on trades and no listing requirements. The project aims to increase stablecoin adoption both within the DEX and across the Cosmos ecosystem, and e-Money has planned bridges to the Ethereum, Avalanche and Polkadot networks.
The NGM token for e-money
NGM is the strike token of the e-money platform and in addition to paying transaction fees, holders are incentivized to stake their tokens to qualify for NGM rewards that come from transaction fees and inflation of the NGM token stock. The total supply of NGM tokens is increased by 10% per year and distributed as wagering rewards. Staking can be done via wallet.e-money.com where the validator’s yield information can also be viewed.
Pulse starter public sale
e-Money will hold a public auction of the platform’s native NGM token on January 19, 2021 at 12:00 PM CET on the Polkastarter platform. In the form of Initial Decentralized Exchange Offering (IDO), a limited stock of 300,000 NGM tokens will be available for purchase at a fixed price of USD 0.50.
Pulse starter is a DEX built for cross-chain token auctions that allows projects to raise capital in a decentralized environment and, with the recent successes of projects The e-Money IDO is launched on the Polkastarter platform and is expected to be another popular event.
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