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
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Fiat Offramping
eurFIAT facilitates offramping into settlement accounts and does not hold intrinsic on-chain value. -
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
- Mint eurFIAT: Deposit Euros through Fiatsend to instantly create eurFIAT tokens.
- Use eurFIAT: Engage in tokenized payments, DeFi opportunities, or fiat conversions.
- Redeem eurFIAT: Convert your eurFIAT tokens back to fiat via Fiatsend's offramping services.