Yet another ground-breaking partnership!
PhoenixDAO is excited to announce that it is partnering with e-Money, which 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.
Phoenix is designed as a DAO based on blockchain technology. The 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.
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 be instrumental in making DeFi more accessible, inclusive, and user-friendly for the communities.
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
Official Website: https://phoenixdao.io
Pioneering blockchain sectors first interest-bearing stablecoins
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 in 2021. 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.