EURMTL is an so-called stablecoin, electronic tokens where the price is supposed to be pegged to a reference asset. EURMTL has a fixed 1:1 rate to the Euro. In conversation, these tokens are sometimes referred to as “euromulks” or even just “mulks”.
- In Montenegro, electronic payment services are not developed (there is no usual “throw it on my card”). EURMTL serves us as a convenient alternative to cash payments.
- To increase the autonomy of interactions within the Montelibero movement.
- Less dependence on local banks.
- The token is used for other projects when it is necessary to collect resources. For example, for the purchase of land within the framework of MTLand.
- The token creates its own economic ecosystem, making it easier to launch any business with the help of internal demand and exchange within the community. As a result it makes membership in it more cost-effective, which means it develops incentives for its existence and development.
How to purchase or spend
- Well, first of all, like any other money, you can earn mulks or pay for goods and services.
- You can simply exchange your money with someone who has EURMTL. Private exchange.
- EURMTL tokens can be bought on the Stellar blockchain with their native currency XLM.
- And you can always contact the guarantors (see below) to buy or sell EURMTL.
The institution of guarantors is used to ensure compliance with EURMTL/Euro. These are the people who are responsible for holding the corresponding amount of euros in their accounts.
In case something happens to the guarantor, he leaves a deposit to the Foundation for his activities in 200% of the amount of euros he holds.
The most stable and active guarantors in the system:
- eurocash in Bar and non-cash ruble @itolstov
- eurocash in Budva, non-cash hryvnia and USDT - @lss_me
- BTC, Lightning Euro and SEPA - @NCrashed
- DASH - @id1253
The system is based on the EURMTL and EURDEBT token pair and the credit generated as a result of the guarantor's excess of EURDEBT over EURMTL. In this case, he becomes a network borrower and EURMTL key rate is applied to him.
EURMTL club is a public telegram chat, a place of communication between sellers and buyers, consumers and entrepreneurs, participants in Montelibero tokenomics.