What Is Num Finance (NUARS)?
Num Finance is a project that aims to create stable cryptocurrencies (stablecoins) that seek to follow the value of legal tender currencies of emerging countries . They call these cryptocurrencies Num Stablecoins (hereinafter referred to as Num-S) . For example, the Num MXN (nuMXN) token seeks to track the value of the Mexican Peso, the Num ARS (nuARS) token seeks to track the value of the Argentine Peso, etc.
There are currently several stable coins in the cryptocurrency market. However, most of them correspond to currencies of developed countries . The best known examples are the stable coins pegged to the US dollar such as USDT, USDC, DAI, etc (hereinafter, USD-S).
Num Finance Coin existence of USD-S is and has been fundamental to the development of the decentralized finance ecosystem that is currently flourishing on the main blockchains. Activity in decentralized finance protocols grows linearly with the circulation of these stablecoins. In turn, other stablecoins began to appear that seek to follow the price of other currencies from developed countries, however, there are very few that seek to do so for currencies from emerging countries.
Num Finance Storage Key Points
|Coin Name||Num Finance|
|Circulating Supply||25,852,342.00 NUARS|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
What do they do?
They build stablecoins of Latin American currencies to facilitate access to cryptocurrencies and decentralized finance for millions of people and companies. Num Stablecoins track the value of local currencies. They firmly believe that the future of finance is DeFi and stablecoins are the bridge to real economies.
Num Stablecoins are powered by Binance Smart Chain and soon Ethereum Mainnet and Polygon.
Num Stablecoins are backed by cryptocurrencies and fiat money.
Users can trade their Num Stablecoins for any cryptocurrency on major exchanges.
Num partners , local brokers and exchanges connect to build new financial tools and services.
On a quarterly basis, proof of funds backing the Num Stablecoins in circulation are published. They also publish the addresses of the wallets that they use for operations.
How Num Stablecoins work
Num-S are collateralized stablecoins and are issued by Num Finance. Issuance consists of putting tokens into circulation. Being collateralized , Num-Ss are issued only if they have an asset of equal or greater value backing them. In English, it is usual to refer to the term “Issue” with the word “Issue”.
Unlike other stablecoins, Num-S is hybrid collateralized . They can be issued backed by other cryptocurrencies, legal tender and other assets. The issuance of Num-S s is carried out through one of the following mechanisms to guarantee its correct collateralization:
Num Finance is financed with the contribution of private capital. Num Finance does not have any governance tokens and only issues Num Stablecoins. Each Num Stablecoin released will be announced in the official media.
Proof of Funds
Num Finance will publish proof of funds backing the issued Num Stablecoins on a quarterly basis. In turn, it will publish the addresses of the virtual wallets that contain said funds so that they can be monitored in real time by the public and the addresses that contain Num Stablecoins minted but not issued.
Only users previously verified and approved by the KYC and AML/FT rules may operate directly with Num Finance . External custodians, in turn, must also comply with these same policies. The use of Num-S through third parties (exchanges, wallets, etc.) is subject to the compliance policies of said companies.
The Num Stablecoins will initially be built on the BNB Chain, Polygon and/or Ethereum blockchains . The launch of each Num Stablecoin will be on a single blockchain to enhance network effects and concentrate liquidity.
Santi Migong – COO
Nico Lepori – Operations Manager
Sebas Petre – Community Lead
Marian Di Pietrantonio – Advisor