Here’s our 110th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with EURST August 6, 2021. This guest star,
- Marieta Genova — COO EURST
- Simone Mazzuca — CEO & Founder Wallex
QUESTIONS MODERATOR
1. Could you give us a simple description of the EURST? What is the vision and mission?Marieta Genova :
EURST is an euro stable coin, designed to fill the gap on the market of a reliable euro representative stablecoin.
It is asset backed in US dollars and it has a live auditing system, which ensures the security of the funds backing the stablecoin at any second.
2. How does EURST convince us of benefits, security and speed? How can EURST be the best solution?Marieta Genova :
Today we do not have not one instrument to link crypto to the traditional euro, and not one representative product which could reliably represent in a digital way the euro currency, despite the growing demand for it. Thus, EURST was created to fill this need.
What can ensure the people who choose to use EURST of the security, is the way the system is done — we have a third party escrow custodian for the funds, backing the stablecoin, held in an insured FED account, combined with the system of live audit by an independent reputable accountancy firm — we make sure that at any moment, EURST is fully transparent and secure.
In today’s world where people are still sceptic about crypto, EURST strives to be the reliable solution.
3. How can EURST help individuals in high inflation countries?Marieta Genova :
EURST can help, by providing access to an euro stablecoin, by using USD to purchase it, which is one of the most used currencies, while maintaining then it’s value, despite the volatility of the country’s national currency.
4. Regulatory issues, many projects are closed in many countries for failing to get proper licenses and permits to operate. how does EURST deal with this problem?Marieta Genova :
Great question, @piyorins We’ve partnered with a chartered, regulated financial institution, which holds the licenses needed and is already proven on the market.
Moreover, we’ve obtained a legal opinion from a recognized law firm before even minting the first EURST, which states that we are allowed to operate on the market and we do not need further licenses.
5. About roadmap, how far has EURST been developed at this time? and what will you realize in the future?Marieta Genova :
EURST’s already on mainnet, fully available to be purchased through our dashboard — https://app.eurst.io , we are ready to onboard both individuals, as companies.
What’s next: in the next 30–60 days we’ll be launched as well in the first exchanges and custodians.
For now, that’s all I can say, for the long run — we’re preparing more upgrades.
QUESTIONS TWITTER
Q1. Stablecoin is a cryptocurrency with a fixed value. The value of the cryptocurrency should not fluctuate frequently, as in normal crypto assets. But we know this fixed price range is often tied to the US dollar. Is your coin fixed to multiple fiat coins and even to precious items?https://twitter.com/tamboman13/status/1422681132378693633?s=19
Marieta Genova :
Yes, EURST is tied to the equivalent of the Euro, backed in US dollars.
It’s price won’t fluctuate like other crypto assets, that is it’s value.
Q2. Eurst aims to remove the need of USD as the main coin reference to most of the stable coins, so how is this procedure sort of? How does it connect with the real world and the dynamic market?https://twitter.com/Lidiamga/status/1422721825469911045?s=19
Marieta Genova :
EURST is here to deliver to the crypto market the missing representative euro stablecoin.
The stablecoins which represent USD certainly have their space, but EURST is here to fill a different need, which we saw. For those, who are now using the euro as a traditional currency, EURST is here to give them the digital representation to be used by providing all the benefits of the stablecoins.
Q3. When most of the projects in the blockchain wants their token to pump to moon, why does $EURST wants to be a stable coin? Can you tell us the challenges faced and how you tackle them?https://twitter.com/Albertjaison2/status/1422799076144205826?s=19
Marieta Genova :
Thanks, @piyorins !
Many people have asked us this question indeed. We are focused on the evolution of the digital currencies in the traditional finance world. Stablecoins are the next step in expanding and merging the traditional to the crypto world, and EURST is here to be the bridge for the euro economy to the digital space.
It Is challenging to represent the first euro stablecoin which we aim to establish on an institutional level and integrate EURST there.
But we’re working hard to position EURST on a high and reputable level, as it is the only way we see it growing and winning the trust of the market.
Q4. Tell us a little bit about the role of your token and project in the entire ecosystem? Will it act as a simple payment currency across all of your products?https://twitter.com/Meghla73691224/status/1423418574677315587?s=19
Marieta Genova :
Thank you for this question! Yes, EURST will be integrated across all our platforms & more, and more over, we are launching in the end of this year TOKASH — the first stablecoin bank.
Q5. I found out one of the exciting feature of Eurst is an OTC Trading & Escrow. So can you explain how does OTC trading works in your platform? What is the use escrow in your platform? How does escrow system being implemented and applied with Eurst? Any advantages of escrow?https://twitter.com/mylhe/status/1423526964762091520?s=19
S M :
Yes, these are use cases for EURST, not services which we directly provide in the platform.
Anyone could use EURST in a fast and secure way to buy crypto trough OTC decks , for example, or to use it in transactions with an escrow account where EURST can be held in escrow.
QUESTIONS TELEGRAM
Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on? Please share with us!!Marieta Genova :
This is a good point. What we aim to do is, to help the european economy brige to the digital space. Inevitably, the finance industry needs to do this step, and while institutions are still discussing how to do this, EURST is ready to support the needs of the people, and help them explore the digital space in a secure way.
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?Marieta Genova :
Certainly, thanks for reminding me on this point, we have a mint and burn system in place in our dashboard.
Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project? thank you….Is your project listed on coingecko and coinmarketcap or not???Marieta Genova :
The team behind EURST is one of it’s strongest assets, we have established professionals from the finance industry who engineered the stable coin, and we’ve partnered with one of the most experienced developers for the smart contract creation, and two of the most reputable companies in their fields for the custodian services and live audit.
Could you please provide some info about your Roadmap and how Market is progressing so far?Marieta Genova :
We have great interest from individuals, and also on an institutional level, and we’re planning to grow and establish EURST on the market.
Will EURST in the future support the use of tokens for payments, or use via credit and debit cards? do you also have a plan to create a loan with stable coin EURST?Marieta Genova :
Hello, @VeronicaGracce , yes, indeed we’re working on allowing EURST to be spent directly via credit and debit cards. It can already be purchased by a card on https://app.eurst.io
We’ll be working on a loan/staking program very soon. It’s a great use case.
- Telegram Channel : https://t.me/eurstablecoin
- Twitter : https://twitter.com/eurst_io
- Website : https://eurst.io/
- Linkedin : https://www.linkedin.com/company/eurst/
- Instagram : https://www.instagram.com/eurst.io/
- Instagram : https://www.instagram.com/eurst.io/%20
- Facebook : https://www.facebook.com/EURST-114965507300774
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about EURST.
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