UniLend’s Permissionless Money Market Protocol will Empower Euro-backed stablecoins by e-Money
UniLend is delighted to welcome e-Money into the ecosystem. With Omnis launch just around the corner, we’re actively seeking innovative new projects to collaborate with and continue to push the boundaries of DeFi. e-Money is the new project joining the UniLend ecosystem.
e-Money’s suite of fully compliant, asset-backed, and interest-bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK offer a strong alternative to dollar-denominated digital currencies.
Why stablecoins are necessary?
Stablecoins strengthen the bridge between fiat currency and cryptocurrency as they are pegged against reserve assets like the Euro, U.S dollar or gold. This alleviates the potential adverse effects of market volatility as compared to other cryptocurrencies like Bitcoin, Ethereum, etc. Due to stablecoins capability to provide an over-collateral for an existing digital asset that enables the dynamic maintenance of a stable market price, they have emerged as key assets in money market protocols. The stablecoin framework offers protection from market volatility brought on by the underlying collateral. They unlock significant utility in the money market protocols and the blockchain ecosystem by upholding consistent values.
This partnership will be mutually beneficial to both parties as:
UniLend will empower e-Money’s stablecoins with flagship lending & borrowing functionality after the UniLend v2 OMNIS mainnet launch. Enhancing the quality of assets supported on the platform.
Furthermore, this collaboration will enable UniLend to gain access to a European user base and onboard a new cohort of users to trade on the protocol.
About UniLend Finance
UniLend is a Multichain permissionless Lending & Borrowing protocol for all ERC20 tokens. We are developing a Futuristic Base Layer for all DeFi applications.
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.