What is e-Money (NGM) | What is e-Money token | What is NGM token

_Decentralised finance (defi) _is the greatest single growth area in cryptocurrency right now, and the hottest topic of discussion in blockchain. This is the reality in which e-Money is preparing to offer its NGM token to the public. e-Money is an upgrade for traditional financial services which have been slow to adapt to the needs of today’s banking customers. Its payment network utilises blockchain technology to offer faster, cheaper and more transparent financial services.

The imminence of e-Money’s offering during cryptocurrency’s rapid awakening to the massive potential of defi may seem fortuitous, but in reality it is the culmination of considerable preparation and development. For the e-Money team, which has been working in the sector for a considerable time, the clues which point to defi’s increasing importance for the whole blockchain industry have always been there to see.

To be clear: it is not the defi sector which is suddenly waking up. It is blockchain which is drowsily coming around to the full potential of defi, rubbing its sleepy eyes from an extended hibernation period after a harsh crypto winter. Defi is ready, e-Money is ready, and now the rest of the blockchain sector is sitting up and paying attention. Here we take a look at how e-Money got here, what it is, and what is coming next.

What is e-Money

e-Money is an electronic payment system and a store of value. It’s fast, frictionless, global money: an upgrade for banking services that reflects our increasingly interconnected world. e-Money knows no borders. Its promise is a cheaper and more user-friendly experience for global citizens, local businesses, international companies and NGOs alike.

When payments are made using e-Money, the transaction is performed with currency-backed stablecoins on the e-Money network rather than with fiat through traditional financial services. On the e-Money network the Euro becomes the eEUR stablecoin while the Swiss Franc becomes the eCHF. The system is designed so that the only appreciable difference between e-Money’s currency-backed stablecoins and their underlying fiat currency, is that the currency-backed stablecoins work in a faster, cheaper and more efficient manner. At launch e-Money will support EUR, CHF, SEK, NOK and DKK currencies with GBP, JPY and USD to follow. In time, e-Money looks to support all major currencies.

The currency-backed stablecoins which are so important to the project are an innovation on collateralised stablecoins, and they’re fully backed by bank deposits and government bonds. One key difference between collateralised stablecoins and currency-backed stablecoins, is that the latter bear interest, which in many ways makes them more similar to money held in a bank account. This is made possible by inflating the supply of currency-backed stablecoins by 1% a year. For a fuller description of currency-backed stablecoins and how they work see

source : https://www.youtube.com/watch?v=JvRTAxbjHbg

Ready for liftoff

Most overnight success stories are years in the making. While the blockchain community has seen its fair share of projects which raise funds and go on to develop little or nothing, e-Money has spent significant time and effort building solid foundations for the project. The company philosophy has always been on creating products and services which work. To that end, the e-Money team has developed and launched no less than 5 testnets in a process of iterative improvement. Today, e-Money has a  working mainnet with 40 validators in place. A functioning decentralised exchange (DEX) is also part of the project, which will be upgraded to a full GUI following the successful completion of e-Money’s token offering.

Unlike many crypto projects which seek to raise funds and then get caught in years of development hell, never launching a product or service, or seriously compromising on a vision which was never practical or possible in the first place, e-Money has a viable product that is working right now.

The NGM

With the technology in place, and with a solid and unique take on decentralised finance, we set our eyes on the future and what comes next for the company. e-Money is now gearing up for its NGM (Next Generation of Money) offering.

The NGM is e-Money’s staking token. NGM holders become eligible for NGM rewards by staking their NGM tokens. Inflation of the NGM occurs at yearly rate of 10%. Once minted, the fresh NGM is distributed on a pro-rata basis to staked NGM only, so the more tokens that are staked, the greater the reward. Further to this, e-Money stablecoins are inflated by a yearly rate of 1% and these are used to buy back and burn NGM tokens, reducing the supply.

e-Money’s Token Metrics

Summary:

Token Name: Next Generation of Money.
Ticker: NGM
Initial Total Supply: 100,000,000.
Circulating Supply: 6,364,516.
Delegated tokens 52,789,969.

Funding Rounds:

Seed Round: 228,500 USD (2,285,000 NGM sold at 0.10 USD per token) — Concluded.
Private Sale: 1,675,000 USD (6,700,000 NGM sold at 0.25 USD per token) — Concluded.
Public Sale: 150,000 USD (300,000 NGM sold at 0.50 USD per token) — Pending.

Token Allocation:

Marketing Costs: 280,000 NGM.
Market Making Fees: 33,333 NGM.
Exchange Listing Fees: 600,000 NGM.
Liquidity Provisioning (Float): 1,193,026 NGM.
Customer Acquisition: 8,300,000 NGM.
Ecosystem Fund (Grants): 10,000,000 NGM.
Treasury: 60,000,000 NGM.

Vesting

Initial Vesting Date: 2020–11–04 13:00:00

Token Sales:

Seed Round: 12 Months.
Private Sale: 6 Months.
Public Sale: No vesting period.

Token Allocation:

Initial Vesting Date: 2020–11–04 13:00:00
Marketing Costs: 6 Months (20% unlocked).
Market Making Fees: 6 Months (20% unlocked).
Exchange Listing Fees: 1 Year (0% unlocked).
Liquidity Provisioning (Float): 1 Year (5% unlocked).
Customer Acquisition: 2 Years (0% unlocked).
Ecosystem Fund (Grants): 3 Years (11% unlocked).
Treasury: 3 Years (0% unlocked).

e-Money’s public sale will take the form of Initial Decentralized exchange Offering (IDO) on Polkastarter on the 19th of January 2021 at 12:00 CET. A limited supply of 300,000 NGM tokens will be available for purchase at a fixed price of USD 0.50. NGM, e-Money’s native ecosystem token, can be bonded with validators to ensure that the e-money system remains secure, stable, fast and cheap to use while also yielding staking rewards.

Polkastarter is a protocol built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot. We are incredibly excited to work with the great team at Polkastarter to become one of the first projects undertaking this innovative new form of fundraising.

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