What is e-Money (NGM)?
e-Money is a Cosmos-based payment platform created to bring financial inclusion to global users. The platform is designed with features that enable easy access to digital currencies. e-Money is aiming to achieve its main goal on a global scale, reducing the cost of financial access along the way.
The e-Money network has a range of currency-backed stablecoins created to act as a store of value. Each stablecoin on the platform is pegged to a reserve of assets denominated in the underlying currency. However, the assets use a dynamic peg that tracks the underlying interest rate. This means that, unlike most stablecoins designed to maintain a static 1:1 peg with their underlying asset, the value of e-Money stablecoins keeps shifting depending on the interest on reserve assets. Some of the coins provided by e-Money include eEUR, eCHF, eDKK, and others.
Besides stablecoins, the e-Money ecosystem has a native token – Next Generation Money (NGM). NGM is a multi-utility token. You can view the NGM price on the e-Money price chart above.
The Cosmos chain, on which e-Money is based, is built on Tendermint, which offers scalability and high transaction speed. Moreover, Cosmos can also be configured to enable immediate block creation. Besides, the e-Money crypto project aims to stay transparent by conducting quarterly reserve audits through a reputable audit firm, Ernst & Young.
Overall, the e-Money network is suitable for both cross-border payments and local recurrent payments. It is built on cross-chain technology and is compatible with leading exchanges and wallets.
Use Cases of NGM Tokens
NGM holders can stake their tokens to secure the network and earn rewards. The amount of rewards for each user depends on the number of tokens they stake.
The native token is also used to pay transaction fees, which are also shared out as rewards.
Plan to buy e-Money coins? Don't forget to analyze the NGM price before doing that. The live e-Money price chart above offers you up-to-date price data.
Who Founded e-Money?
e-Money was founded by Martin Dyring-Anderson and Henrik Aasted Sørensen.
Martin Dyring-Anderson is an experienced entrepreneur with an interest in new technologies. He has been involved with startups, algorithmic trading, and FX markets for over 20 years.
Henrik Aasted Sørensen, on the other hand, is knowledgeable and experienced in software engineering. He has worked with various financial infrastructures, security, and consulting.
Tokenomics of NGM
e-Money has an initial total supply of 100 million NGM. The supply of e-Money tokens is designed to inflate by 0.5% annually. The inflated supply is used to buy back and burn NGM tokens. This model helps reduce the available tokens on the market, preventing the eMoney price from dropping.
