e-Cash introduces quick, frictionless swapping of foreign money backed tokens into the Cosmos ecosystem
With the world’s largest funds pouring tens of millions into Bitcoin, the eyes of the world are on cryptocurrencies as soon as once more. Though the worldwide acceptance of Bitcoin appears extra imminent than ever, cryptocurrencies are identified for his or her volatility with aggressive value swings and market manipulation commonplace.
e-Cash gives customers an answer that permits the on a regular basis consumer to change conventional cash for cryptocurrencies with out the palpitation-inducing volatility. With a quick and simple to make use of international fee system underpinned by distributed ledger know-how, customers can change currency-backed and curiosity bearing stablecoins.
Foreign money backed, interest-bearing stablecoins
e-Cash’s stablecoins are currency-backed, collateralized with a dynamic peg that tracks the underlying rate of interest of the identical foreign money as which they’re issued. e-Cash customers can presently select from a number of currencies together with EUR and CHF, with plans to implement USD, GBP and JPY within the close to future.
A standout characteristic of e-Cash’s foreign money backed stablecoins is that they’re curiosity bearing. With many central banks’ rates of interest near-zero or detrimental, curiosity on authorities bonds and financial institution deposits is dwindling; e-Cash gives an expertise much like that of a financial savings account and annually the provision of e-Cash stablecoins is inflated by 1% with the underlying curiosity on the reserve handed on to the consumer.
The latest launch of the e-Cash DEX, which helps buying and selling of all currency-backed stablecoins in addition to the platform’s native NGM token, additionally gives customers zero execution charges on trades in addition to no itemizing necessities. The undertaking seems to be to extend stablecoin adoption each inside the DEX and all through the Cosmos ecosystem, and e-Cash has deliberate bridges to the Ethereum, Avalanche and Polkadot networks.
The e-Cash NGM token
NGM is the e-Cash platform’s staking token and in addition to paying for transaction charges, holders are incentivized to stake their tokens to be able to be eligible for NGM rewards which come from transaction charges and inflation of the NGM token provide. The full provide of NGM tokens is inflated by 10% per 12 months and distributed as staking rewards. Staking may be carried out by way of pockets.e-money.com the place validator yield data can be considered.
Polkastarter Public Sale
e-Cash shall be conducting a public sale of the platform’s native NGM token on the nineteenth of January 2021 at 12:00 CET on the Polkastarter platform. Happening within the type of Preliminary Decentralized Trade Providing (IDO) a restricted provide of 300,000 NGM tokens shall be out there for buy at a set value of USD 0.50.
Polkastarter is a DEX constructed for cross-chain token auctions that permits tasks to boost capital in a decentralized setting and, with the latest successes of tasks launching on the Polkastarter platform, the e-Cash IDO is predicted to be one other well-liked occasion.
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