Decentralised Staking Platform bRing.Finance Explores e-Money’s European Stablecoins
Staking plays a significant role in the crypto ecosystem, enabling projects to secure their decentralised networks while allowing users and holders to earn a yield on their investments. Stablecoins are a crucial element of a thriving Web 3.0 economy and it is imperative that DeFi projects integrate financial products that are compliant with financial and regulatory bodies, and have robust fundamentals, thus mitigating liquidity risk factors for the entire ecosystem. As such, bRing.Finance, a decentralised staking platform is exploring the integration of e-Money’s suite of European stablecoins with its ecosystem.
Advantages of staking on bRing.Finance
bRing is an innovative approach to staking where the user is the most important link. Each user can choose which staking pool suits him best, depending on the conditions offered. You can stake commission-free and block-free, and bRing rewards you when you want, at any time. The user also has the option to cancel their bet whenever they want.
bRinging e-Money’s stablecoins to their platform
e-Money offers a strong alternative to dollar-denominated stablecoins in the form of its fully compliant, asset-backed, and interest-bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK. bRing.Finance plans to explore integrating these assets within their ecosystem, to mitigate the risk of single currency exposure and aims to strengthen their token pools. Furthermore, this collaboration will enable them to gain access to a European user base and facilitate the acquisition of European users for bRing.finance.
bRing is a unique decentralized cross-chain platform that supports DeFi features such as farming and liquidity staking. One of their main specializations is liquidity staking bRing offers several options for staking pools. Staking with one token, where the user receives rewards in the same coin that he staked; the liquidity staking at which users are rewarded for staking LP tokens; farming pools, in which up to 10 projects dine into one pool and collect all pool tokens as a reward after the farming period expires.
The bRing team positions itself as a young and ambitious team whose main goal is to provide an opportunity for promising projects to support initial liquidity for their tokens and provide a stable income to their users.
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
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 Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.