Egoras Credit Price (EGC)

Egoras Credit (EGC) Price Now

Egoras Credit price today is $13.17 with a 24-hour trading volume of $31,457. EGC price is up 0.6% in the last 24 hours. It has a circulating supply of 3,000 EGC tokens and a max supply of 500,000.
In order to search for real-time and historical information about Egoras Credit (EGC) blockchain, including data related to blocks, transactions, addresses, and more, you may use Egoras Credit (EGC) block explorers. Here are some of the most popular and useful Egoras Credit (EGC) blockchain explorers out there:

• bscscan.com

About Egoras Token Economy

The Egoras Protocol interacts with Four kinds of tokens:
• The Egoras Dollar (EUSD) - a stable cryptocurrency that can be held and spent like the United States Dollar and other stable fiat money.
• The Egoras token (EGR)—a governance cryptocurrency used to govern Egoras microfinance protocol.
• The Egoras Credit (EGC) - The utility token of the Egoras protocol to facilitate the stability of the EUSD.
• Collateral tokens—other assets that are held in smart contracts in order to back the value of the EgorasUSD, similar to when the US government used to back the US dollar with gold. The protocol is designed to hold collateral tokens worth at least 100% of the value of all EgorasUSD tokens. Many of the collateral tokens will be tokenized real-world assets such as tokenized electrical appliances, household appliances e.t.c, and the portfolio will start off relatively simple and diversify over time as more asset classes are tokenized.

What is The EgorasUSD(EUSD)?

The EUSD stable coin is a decentralized, collateral-backed cryptocurrency pegged to United States Dollar. EUSD is built on the Ethereum blockchain and can be held on any Ethereum wallet. It can be spent the way the U.S. Dollar is spent.

Egoras Lending Partners generate EUSD by posting a loan backed by collateral assets into the Egoras microfinance protocol and EGR holders approve or decline the loan request. The loan request approved creates EUSD which the microfinance banks send directly to the borrowers.

Users can also buy EUSD from exchanges, or simply receive it as a means of payment. Every EUSD in circulation is over-collateralised, meaning that the value of the collateral is higher than the value of the EUSD debt, and all EUSD transactions are publicly viewable on the Ethereum blockchain.

What is  Functions of EUSD?

1. Store of Value: EUSD being a stable coin serves as a store of value because of the lower associated volatility levels. EUSD is designed to preserve value for a long period of time.
2. The Medium of Exchange: Stablecoins enable further adoption of cryptocurrencies by the local businesses while minimizing the risks related to their volatility. It encourages the exchange of goods for cryptocurrency. EUSD will be used by small businesses in exchange for goods and services.
3. Unit of Account: Pricing in EUSD is possible with the pegging mechanism. Currently, EUSD is not an independent unit of account over time across the globe. EUSD is currently pegged to 1 USD (1 EUSD =1 USD). Though EUSD is not used as a standard measurement of value in the off-chain world, it functions as a unit of account within the Egoras microfinance protocol.
4. Lending: EUSD can be used to settle the debt in Egoras microfinance protocol. (e.g., Microfinance Banks, NGOs or other lending partners pay back debt and interest with EUSD on Egoras microfinance protocol).
Steps to Generate EUSD
1. Create Partnership Request: Any legally registered microfinance bank or NGO or duly licensed money lending company can create a partnership request on Egoras microfinance protocol by filling the partnership form with all the detailed information about the organization..
2. Get approved/declined by EGR holders: Egoras token (EGR) holders curate the request of microfinance banks, NGOs or money lenders to become a lending partner, and decide if they will either approve or decline the request from the organizations.
3. Post loan request: Approved lending partner can post loan requests to Egoras microfinance protocol and get EGR holders to either approve or decline the loans. If the loans are approved, then the organization receives EUSD in their approved organizational wallets.
4. Pay Back the Debt: The lending partner must pay down or completely pay back the EUSD generated, plus the inventory fee that continuously accrues on the collateral.
Steps To Govern the Generation Of EUSD
1. Validate Lending Partnership Request: Approve/decline partnership requests of microfinance banks, NGOs or organizations with money lenders licenses. Read through the documents provided by these organizations before approving or declining the requests.
2. Validate the Loan Request: Read through the loan request by these lending partners; ask the lending team questions in order to get to know the borrower before approving/declining the loan request.
3. Claim Rewards: Claim your block rewards created through inflationary monetary policy and inventory fee from businesses holding EUSD.
Egoras Governance Token (EGR)
In contrast to EUSD which is a stablecoin that is suitable for payments and savings, EGR is a token that has a volatile price because of its unique supply mechanics and role on the Egoras protocol. EGR is a governance token. There exists a maximum of 100M EGR.

As a governance token, EGR is used by EGR holders to vote for the risk management and business logic of the Egoras Protocol. Risk management is crucial for the success and survival of the system and is done in practice by voting on specific risk parameters for each loan and lending partner. The risk parameters need to be set rigorously to correspond to the risk profile of the loans and the lending partner in the system.

The voting process for the governance of the system is done through continuous approval voting. This means every EGR holder can vote for any number of proposals with the EGR he holds and can submit a new proposal or withdraw his votes at any point in time. The proposal that has the most votes from all EGR holders becomes the “top proposal” and can be activated to implement changes to the risk parameters of the system.

There is a simple app available that allows any EGR holder to easily vote with their EGR by using metamask, ledger and fortmatic. More advanced features are planned for the future, such as delegating your votes to a proxy voter, and the ability to safely vote with EGR held in cold storage. If EGR holders are highly competent and govern the protocol well, The Egoras credit system will get adopted and will always remain overcollateralized.

What is The Egoras Credit (EGC)?

As a utility token, EGC is required for paying the inventory fees accrued on Loans that have been used to generate EUSD in the Egoras Protocol. Only EGC can pay these fees, and when paid the EGC is burned, removing it from the supply. This means that if the adoption and demand for EUSD and Egoras Credit system increases, there will be additional demand for EGC so users can pay the fees. It also means the supply will decrease as EGC is burned.

How EGC Facilitates the stability of EgorasUSD?

If demand goes down for the EUSD, prices will fall on secondary markets. What happens then? Suppose the redemption price of EUSD is $1.00. If the price of EUSD on the open market is $0.98, arbitrageurs will be incentivized to buy it up and redeem it with the Egoras smart contract for $1.00 worth of EGC or eNFTs. They will continue buying in the open markets until there is no more money to be made, which is when the market price matches the redemption price of $1.00. The same mechanism works in reverse when demand goes up. If the price of EUSD in the open market is $1.02, arbitrageurs will be incentivized to purchase newly minted EUSD tokens for $1.00 worth of either collateral or Egoras Credit tokens (the latter only if there is an excess pool of EUSD tokens available), and immediately sell them in the open market. They’ll continue selling in the open markets until there is no more money to be made, which is when the market price matches the purchase price of $1.00.

Where Can You Buy Egoras Credit(EGC)?

Investing in Egoras Credit can seem complicated, but it is much easier when you buy Egoras Credit through cryptocurrency exchange. Signing up for a cryptocurrency exchange will allow you to buy, sell, and hold Egoras Credit — both for fiat money and other cryptocurrencies. Some of the most popular Egoras Credit cryptocurrency exchange are:

• MEXC Global

Egoras Credit (EGC) Community

• Twitter: https://twitter.com/egorasmarket
• Medium: https://egoras.medium.com/
• Telegram: https://t.me/egorasmarket

What is Egoras Credit (EGC) Contracts address?

• BNB Chain(BEP20): 0x4ac4fc5317f95849a1f17e2f4daf03c32196f0cb