Fiatsend Assets

eurFIAT - A Euro-Backed Token

eurFIAT represents the total amount of Euros in Fiatsend's reserves and is burnt upon settlement completion.

How does eurFIAT work?

Creation of eurFIAT

To mint eurFIAT:

• Users supply equivalent Euros into reserves in the form of liquidity.
• Contributors earn competitive APYs and incentives in the form of FSEND tokens.
• Deposited Euros are converted into eurFIAT tokens on a 1:1 ratio, ensuring stability and full collateral backing.

Collateral Backing

• Transparency: eurFIAT is fully backed by fiat reserves held in trusted accounts.
• Verification: Regular audits and zk-proofs verify the 1:1 backing of every eurFIAT token.

Using eurFIAT for Payments and Offramping

1. Fiat Offramping
   eurFIAT facilitates offramping into settlement accounts and does not hold intrinsic on-chain value.

2. Tokenized Payments
   Use eurFIAT for borderless transactions across supported platforms, enabling faster and more efficient payments.

Redemption of eurFIAT

• eurFIAT can be redeemed at any time for an equivalent amount of Euros.
• The redemption process ensures liquidity and access to fiat whenever needed.

Why Choose eurFIAT?

• Stable Value: Backed 1:1 by Euros, ensuring reliability.
• Fiat Onramping and Offramping: Seamlessly transition between fiat and crypto.
• Transparency and Trust: Supported by regular audits and zk-proofs.
• Accessibility: Easily redeem eurFIAT into bank accounts or supported payment systems.
• Integration: Compatible with decentralized applications and tokenized payment solutions.

Getting Started with eurFIAT

1. Mint eurFIAT: Deposit Euros through Fiatsend to instantly create eurFIAT tokens.
2. Use eurFIAT: Engage in tokenized payments, DeFi opportunities, or fiat conversions.
3. Redeem eurFIAT: Convert your eurFIAT tokens back to fiat via Fiatsend's offramping services.