Announcement: Lowering costs for e-Money Stablecoins
We have received feedback about the supply inflation of e-Money Stablecoins from our institutional clients and took this feedback into consideration to make changes to the rate at which our stablecoins are inflated each year. As you are aware the total supply of all our stablecoins is continually inflated and the rate is variable and is currently at 1% per year.
Factoring in the feedback received from our partners the e-Money team has decided to decrease the annual rate at which our stablecoins are inflated. Moving forward, the total supply of all our stablecoins will be inflated by 0.5% per year.
By decreasing the supply inflation of e-Money stablecoins we deliver direct value to stablecoin users and propel adoption of our stablecoins for payments, remittances and instant settlements.
The e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins reflecting various world currencies. Each token is backed by a reserve of assets denominated in its underlying currency. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), Swedish Krona (SEK), Norwegian Krone (NOK), and the Danish Krone (DKK) with a host of additional currencies pegged for release throughout the year. The project is dedicated to total transparency with quarterly reserve audits performed by Ernst & Young.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Ethereum and expects to integrate with Binance Smart Chain, Cosmos Hub, Avalanche, Polygon, and Elrond in 2021.