e-Cash introduces quick, frictionless swapping of foreign money backed tokens into the Cosmos ecosystem
With the world’s largest funds pouring hundreds of thousands 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 recognized for his or her volatility with aggressive value swings and market manipulation commonplace.
e-Cash presents customers an answer that allows the on a regular basis person to trade conventional cash for cryptocurrencies with out the palpitation-inducing volatility. With a quick and straightforward to make use of international cost system underpinned by distributed ledger know-how, customers can trade currency-backed and curiosity bearing stablecoins.
Forex 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 function of e-Cash’s foreign money backed stablecoins is that they’re curiosity bearing. With many central banks’ rates of interest near-zero or adverse, curiosity on authorities bonds and financial institution deposits is dwindling; e-Cash presents an expertise just like that of a financial savings account and annually the availability of e-Cash stablecoins is inflated by 1% with the underlying curiosity on the reserve handed on to the person.
The current 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 presents customers zero execution charges on trades in addition to no itemizing necessities. The challenge 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 in an effort to be eligible for NGM rewards which come from transaction charges and inflation of the NGM token provide. The whole provide of NGM tokens is inflated by 10% per yr and distributed as staking rewards. Staking might be executed through pockets.e-money.com the place validator yield data may also be seen.
Polkastarter Public Sale
e-Cash can 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 Alternate Providing (IDO) a restricted provide of 300,000 NGM tokens can be accessible for buy at a set value of USD 0.50.
Polkastarter is a DEX constructed for cross-chain token auctions that allows tasks to lift capital in a decentralized atmosphere and, with the current successes of tasks launching on the Polkastarter platform, the e-Cash IDO is predicted to be one other common occasion.
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