Gourmet Galaxy collaborates with e-Money for its European Stablecoins
We are pleased to announce that e-Money is partnering with Gourmet Galaxy, a platform for advanced yield farming at NFTs. This collaboration potentially aims to accelerate its foothold in the decentralized finance (DeFi) world and NFT metaverse while offering e-Money users exposure to an exciting, emerging asset class.
The collaboration between e-Money and Gourmet Galaxy is designed to explore e-Money’s suite of European stablecoins such as EEUR, ECHF, ENOK, ESEK, and EDKK, whilst bringing the two communities together.
Gourmet Galaxy’s product range includes a swap protocol called GUM swap, their yield farming platform called GUM Farm, and Galaxy Market, their gateway to exchange NFT tokens, used to build out their NFT Universe.
Gourmet Galaxy will facilitate the use of e-Money’s fully compliant, asset-backed, interest-bearing stablecoins within their ecosystem. Hence this will enable them to market their platform to a wider audience and seamlessly expand their offerings to the European market.
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 Cosmos Hub. e-Money expects to integrate with Binance Smart Chain, Avalanche, Polygon, and Elrond in 2021.
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GourmetGalaxy is a platform taking yield farming to new heights. Through a combination of DeFi and NFTs wrapped up in a gamified manner, users can stake GUM to earn resources and planets, earning additional tokens for their contributions and exploration. GourmetGalaxy is bringing a fresh look to the yield farming space, providing a variety of features to help its community grow and thrive. Through its five main components, GUM Swap, GUM Farm, GALAXY Markets, the NFT Universe, and GUM Pad, GourmetGalaxy is able to reimagine the yield farming process, making it more enjoyable for all involved along the way.