Original testnet participant.
Block producer on Day 1 and extensive experience in the Cosmos ecosystem.
Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.
100% missed reward SLA guarantee.
Protected via industry-leading Delegation Agreement.
There are three ways to stake e-Money NGM.
emcli tx staking delegate emoneyvaloper1m5ymqqnem9tzdzul0xrpkw3d82kncyzdw772yl 1000000000ungm –from keyname –chain-id emoney-1–fees 200000ungm –node 18.104.22.168:26657
Where “1000000000ungm” is equivalent to 1000 NGM; “keyname” is changed to the name of your key; and “200000ungm” is a transaction fee equal to 0.2 NGM.
Figment Network validator address: emoneyvaloper1m5ymqqnem9tzdzul0xrpkw3d82kncyzdw772yl
Contact us for more information on network participation: email@example.com
Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.View Guide
e-Money bills itself as the “Next Generation of Money”. e-Money brings innovative, currency backed tokens to the market. In addition to the currency backed tokens, e-Money will issue its Next Generation of Money token “NGM” for the purpose of staking in order to secure the network.
The currency backed tokens are:
e-Money is built as a zone in the Cosmos ecosystem, which means anyone within the Cosmos ecosystem is free to use e-Money tokens as a means of payment and a store of value.
Other use cases outside of the Cosmos ecosystem include cross border payments/remittances, and E-commerce.
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NGM token – the Next Generation of Money token (NGM).
There will be a fixed supply of 100 million NGM.
Current currencies that are supported are: EUR, CHF, DKK, SEK, and NOK.
There are plans to support more currencies in the future.
The rewards from staking NGM tokens come from two sources:
1) transaction fees and
2) a markup on the currency-backed tokens.
Transaction fees can be paid with NGM or in any of the currency-backed tokens and we expect trading activities on the DEX to be the primary source of these.
The markup consists of an annual 1% inflation on each currency-backed token. The markup is applied continuously and distributed pro-rata to staked NGM token holders.
In short, the rewards that are distributed to staked NGM tokens are tied directly to the amount of issued currency-backed tokens.
The model eliminates the reliance on transaction costs to sustain operations. This aligns with the design goals of Cosmos Hub and the Internet of Blockchains, as the currency-backed tokens can move freely across zones.
Rewards are distributed pro-rata among staked NGM token accounts.
Rewards consist of all currency backed tokens that are supported by e-Money at the time of distribution.
NGM tokens are not distributed as rewards.
NGM can be exchanged on e-Money’s DEX.
The e-Money team has been advised to structure the NGM token so that it is non-transferable. NGM can only be used in a transfer or trade on the DEX if e-Money A/S is on either side of the transaction.
The company will provide liquidity for NGM on the DEX (the Community Sale). This will also enable NGM holders to satisfy any buy-side demand.
The company expects to periodically revisit the question of transferability of the NGM token, the first time in March 2021. The company will then reassess the risks and exposures associated with a possible transferability of the NGM token, with the aim of eventually making it freely transferable.
If you’re delegating NGM, you can lose part of your stake (“slashing”) and miss out on rewards (“jailing”) if your validator breaks protocol rules.
1. If your validator is offline for long enough that it misses 10% of blocks in one hour, two punishments happen:
2. If your validator signs two blocks at the same height (“equivocation”), two punishments happen:
Check out our ‘First Look’ article here.
The e-Money team has a set of frequently-asked questions (FAQs) here: https://e-money.com/faq