What is eUSD?
Electronic Dollar (eUSD) is a stablecoin — a type of cryptocurrency with a fixed price to the US Dollar. You can use eUSD just like you would any dollar – to buy and trade assets, to send and receive payments, or to save your money.
How is eUSD different from a Dollar?
Unlike dollars, eUSD is a form of cryptocurrency. Because it’s blockchain-based, eUSD moves at the speed of the internet, and without the high fees associated with traditional finance. But unlike most forms of crypto, eUSD possesses robust safety features that have been tested in real-world scenarios. It combines diversified and highly liquid backing with over-collateralization, ensuring its stability and reliability.
Where is eUSD issued?
eUSD was developed using the Reserve Protocol. A platform that allows for the permissionless creation of asset-backed, yield-bearing & over-collateralized stablecoins on Ethereum.
What is the Reserve Protocol?
The end goal of the Reserve protocol is to provide highly scalable, decentralized, stable money in contrast to volatile cryptocurrencies such as Bitcoin and Ether.
Reserve Protocol enables the deployment of tokens on the Ethereum blockchain that can be issued and redeemed for a diversified basket of other tokens. These “RTokens” are a new form of asset-backed currency, and you can make money by deploying, governing, and promoting them. Read the full documentation here.
What are Rtokens?
RToken is the generic name for a stablecoin that gets created on top of the Reserve Protocol. RTokens are fully asset-backed by any combination of ERC-20 tokens and can be protected against collateral default by Reserve Rights (RSR) staking.
Where can I find more public information about eUSD?
You can read all the documentation and statistics about the eUSD RToken here.
Is the redemption of 1 eUSD to 1 USD guaranteed?
Yes, UGLYCASH guarantees the 1-to-1 redemption, instantly and with Zero fees when you transfer between your Ugly Checking and UGLYCASH Earn balances.