e-Money partners with PhoenixDAO
Yet another ground-breaking partnership!
e-Money is excited to announce that it is partnering with PhoenixDAO, a community-focused decentralized platform that operates with the goal of rejuvenating digital identity using its custom-made solutions. The new partnership formed will connect communities on both sides as well as explore novel possibilities of integrating stablecoins in DeFi.
Phoenix is designed as a DAO based on blockchain technology. The end result of such a design is transparency and security for every process within the framework. The collaboration aims to bring both the communities together and explore the potential of DeFi, NFT, and Governance.
e-Money, the future of stablecoins
e-Money aims to address the current challenges faced by stablecoins by offering non-USD backed assets, fully backing each stablecoin so that funds are always redeemable, providing a token-economic model in which the value of the stablecoins moves in line with the interest accrued on the underlying reserve assets, and offering full transparency through quarterly third-party reserve audits by Ernst and Young. 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).
What does the partnership entail?
The partnership will work on bringing DeFi to the masses. Through this new collaboration, both the partners can work on solutions that will bring financial solutions and products to DeFi allowing even the remotest investor to step in. The core focus also will be to make it more global and inclusive.
The partnership holds the potential of improving blockchain accessibility by providing a bridge between DeFi and asset-backed tokens of e-Money. Decentralized Finance is not about a few controlling the system and complexities. With innovation and the best minds, the partnership will prove to be instrumental to make DeFi more accessible, inclusive, and user-friendly for the communities.
About PhoenixDAO
PhoenixDAO is a new-age decentralized platform in which different DeFi applications can leverage its PHNX-ID solution. It is a community-led project built around internal protocols including authentication, payment, identity management, and so on. The platform offers boundless opportunities and possibilities to remove different restrictions and involves much-inclusive participation from the community. Its repertoire of offerings includes products that are aimed at sustainability. They also have already launched Events Marketplace with NFT ticketing technology, a PHNX spot staking dApp, and much more.
Get to know more about it
Website I Twitter I Telegram I White Paper
e-Money
e-Money is a blockchain-based payment platform committed to bringing financial inclusion and help people around the world to have easy access to digital currencies. Built on Cosmos technology, 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 eEUR, the eCHF, and tokens backed by Scandinavian currencies (eNOK, eDKK, and eSEK) with a host of additional currencies pegged for release in 2021. The e-Money ecosystem has a second token class, the Next Generation Money (NGM) token is a staking and rewards token, users can stake NGM to secure the e-Money network.
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.
