Figment

Why Stake with Figment?

Experienced & Trusted

Experienced & Trusted

Original testnet participant.

Block producer on Day 1 and extensive experience in the Cosmos ecosystem.

Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

Features & Benefits

Features & Benefits

100% missed reward SLA guarantee.

Security & Safety

Security & Safety

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody and control of your NGM at all times. Read more about self-custody here.

Third-party custody solutions are available through our institutional partners. Contact us for more information. 

 

Compliance

Compliance

Protected via industry-leading Delegation Agreement.

Staking Instructions & Guide

There are three ways to stake e-Money NGM.

This is our comprehensive guide to delegating your e-Money NGM stake.

  1. The easiest way to stake and delegate your e-Money NGM tokens is with Lunie.
  2. You can also use this e-Money explorer to delegate stake if you’re using a Ledger device.
  3. If you’re using the e-Money command line interface ’emcli’, you can use this format for your staking delegation command:

emcli tx staking delegate emoneyvaloper1m5ymqqnem9tzdzul0xrpkw3d82kncyzdw772yl 1000000000ungm –from keyname –chain-id emoney-1–fees 200000ungm –node 155.138.134.152:26657

Where “1000000000ungm” is equivalent to 1000 NGM; “keyname” is changed to the name of your key; and “200000ungm” is a transaction fee equal to 0.2 NGM.

Figment validator address: emoneyvaloper1m5ymqqnem9tzdzul0xrpkw3d82kncyzdw772yl

Contact us for more information on network participation: contact@figment.network

Fiat-to-Token Exchange

Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.

View Guide

Learn More

e-Money bills itself as the “Next Generation of Money”. e-Money brings innovative, currency backed tokens to the market. In addition to the currency backed tokens, e-Money will issue its Next Generation of Money token “NGM” for the purpose of staking in order to secure the network. 

The currency backed tokens are: 

  • Fully backed by bank deposits and government bonds. 
  • Multi currency, supporting major global currencies.
  • Interest-bearing (both positive and negative).
  • Transparent through quarterly EY proof of funds.
  • Protected by an insolvency fund to guarantee proper unwinding.

e-Money is built as a zone in the Cosmos ecosystem, which means anyone within the Cosmos ecosystem is free to use e-Money tokens as a means of payment and a store of value. 

Other use cases outside of the Cosmos ecosystem include cross border payments/remittances, and E-commerce.  

 

Frequently Asked Questions

What asset does e-Money use for staking?

NGM token – the Next Generation of Money token (NGM). 

What is the supply of NGM?

There will be a fixed supply of 100 million NGM. 

What currencies are supported by e-Money?

Current currencies that are supported are: EUR, CHF, DKK, SEK, and NOK. 

There are plans to support more currencies in the future. 

What are the NGM staking rewards?

The rewards from staking NGM tokens come from two sources:

1) transaction fees and

2) a markup on the currency-backed tokens.

Transaction fees can be paid with NGM or in any of the currency-backed tokens and we expect trading activities on the DEX to be the primary source of these.

The markup consists of an annual 1% inflation on each currency-backed token. The markup is applied continuously and distributed pro-rata to staked NGM token holders.

In short, the rewards that are distributed to staked NGM tokens are tied directly to the amount of issued currency-backed tokens.

The model eliminates the reliance on transaction costs to sustain operations. This aligns with the design goals of Cosmos Hub and the Internet of Blockchains, as the currency-backed tokens can move freely across zones.

How are rewards distributed?

Rewards are distributed pro-rata among staked NGM token accounts.

Rewards consist of all currency backed tokens that are supported by e-Money at the time of distribution. 

NGM tokens are not distributed as rewards. 

Are NGM tokens transferable?

NGM tokens are not currently transferable

NGM can be exchanged on e-Money’s DEX.

The e-Money team has been advised to structure the NGM token so that it is non-transferable. NGM can only be used in a transfer or trade on the DEX if e-Money A/S is on either side of the transaction.

The company will provide liquidity for NGM on the DEX (the Community Sale). This will also enable NGM holders to satisfy any buy-side demand.

The company expects to periodically revisit the question of transferability of the NGM token, the first time in March 2021. The company will then reassess the risks and exposures associated with a possible transferability of the NGM token, with the aim of eventually making it freely transferable.

What are the risks of staking NGM?

If you’re delegating NGM, you can lose part of your stake (“slashing”) and miss out on rewards (“jailing”) if your validator breaks protocol rules.

1. If your validator is offline for long enough that it misses 10% of blocks in one hour, two punishments happen:

  • you will lose 0.01% of the stake that you have delegated to this validator
  • you will not earn rewards for at least an hour or however much longer it takes for your validator to resume operations

2. If your validator signs two blocks at the same height (“equivocation”), two punishments happen:

  • you will lose 5% of the stake that you have delegated to this validator
  • you will not earn rewards until you redelegate to another validator (since the validator that breaks this rule is permanently removed)
Where can I learn more about how e-Money works?

Check out our ‘First Look’ article here.

The e-Money team has a set of frequently-asked questions (FAQs) here: https://e-money.com/faq

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