Folks at UniLend are excited to have e-Money as part of the ecosystem. They are actively looking for cutting-edge future initiatives to work collaboratively with as they continue to expand the limits of DeFi in anticipation of the impending release of Omni. The newest venture to join the UniLend ecosystem is called e-Money.
A powerful option to virtual currencies in dollars is the suite of full compliance, asset-backed, and interest-bearing stablecoins offered by e-Money, including EEUR, ECHF, ESEK, ENOK, and EDKK. Since stablecoins are linked to reserve assets such as the euro, dollar, or gold, they enhance the link between fiat money and cryptocurrencies. Especially in comparison to other cryptocurrencies, including Bitcoin, Ethereum, etc., this lessens the possible negative consequences of market turmoil.
Stablecoins have become important assets in money market protocols because of their ability to provide the excess collateral for a current digital asset, allowing for the vibrant upkeep of a steady market rate. The stablecoin structure protects from market turmoil brought on by the underlying collateral. Preserving consistent values opens up significant utility in the blockchain ecosystem and money market protocols.
After UniLend v2 OMNIS mainnet release, UniLend will give e-stablecoins Money’s flagship borrowing & lending features. Improving the standard of the assets that the platform supports. Additionally, by working together, UniLend will have direct exposure to a European customer base and be able to sign up a new users group to start trading on the protocol.
A blockchain-based payment platform called e-Money was developed by the Danish fintech company e-Money A/S, which is dedicated to promoting access to financial services and facilitating the simple use of digital currencies for all. e-Money, which is based on Cosmos new tech, supports a variety of fiat-stablecoins that are entirely supported by interest-bearing treasury securities and bank deposits. Ernst & Young will provide Proof of Funds quarterly to guarantee the integrity and openness of e-Money stablecoins.
As of now, e-Money supports a lot of stablecoins supported by European currencies, including the EEUR, ECHF, and tokens supported by Scandinavian currencies (ENOK, EDKK, and ESEK). The NGM “Next Generation money” token, staking and rewards token, is a 2nd token in the e-Money eco-system, and users can stake NGM to protect the e-Money system.
The value of e-currency-backed Money’s tokens continuously changes in line with the interest earned on the reserve assets, in contrast to the majority of current stablecoins that attempt to preserve a stationary 1:1 peg with their underlying value. The above means that while your assets are safely stored in your wallet, holders profit from the interest that has accumulated on those assets. The e-Money blockchain enables money transfers at scale and has a DEX for simple currency conversion. With Ethereum, Cosmos Hub, and Osmosis by now incorporated, e-Money plans to incorporate with all big channels eventually.
