nEURO

Introduction

Global trends indicate that blockchain technology is becoming more and more popular with regard to virtual assets. Georgia is no different. In addition to banking, businesses are interested in virtual assets as a way to give customers more convenience.
According to data from the National Bank of Georgia, over 85% of the users of banking products would rather use digital products (such as internet banking, online banking, POS terminals, and ATMs) than services that require going to a bank branch. Leading global businesses are adopting virtual asset payments as a method of payment in response to the growing interest in virtual assets. For instance, well-known companies that have successfully used Bitcoin payments include Ralph Lauren, Virgin, Paypal, BMW, Microsoft, Dell, Starbucks, AT&T Inc., and many more. Major companies like Google and Mastercard encourage the adoption of virtual assets. Mastercard intends to act as a bridge between large banks and virtual asset trading platforms. Virtual asset payments are integrated as payment alternatives by online retailers (including Microsoft, Shopify, and Etsy.com), allowing them to enter new markets with virtual assets.
Georgia has seen growth in both the number of active virtual users and community awareness each year. More and more people are in favor of transferring, buying, and storing funds in virtual assets. The number of newly registered users on Coinmania confirms this trend. On the Coinmania portal, there are currently more than 100,000 accounts registered.
Any asset may be regarded as a Stable Virtual Asset if its price is comparatively regulated (stable).
Being reliable in terms of value stability, stable virtual assets are far safer than simple virtual assets. This means that a particular virtual asset is pegged to some sort of asset and is "backed" by a property with a particular value. In general, these types of virtual assets are supported by real money stored in a bank or other reserve. They are supported by funds that are physically set aside in the bank by a centralized platform that may be deployed whenever needed. As a result, their price is set at a specific amount.
Most virtual asset exchanges worldwide allow traders to exchange a variety of stable virtual asset types. The only difference is the speed of the platform and the amount of fees charged. Conditions for trading stable virtual assets vary throughout virtual asset exchanges.
There are stable virtual assets like nGEL, nEURO, and nEURO in Georgia. These Coinmania LLC-created assets fall within the FIAT category.

Site Content

Information About the Issuer on nEURO:

Issuer: Coinmania LLC
Legal address: 33a Delisi, Tbilisi, Georgia
Business address: 63 Paliashvili Street, Office 1, Tbilisi, Georgia
Business registration date: February 8, 2017
Business ID: 405189166
Official websites: coinmania.ge, coinmania.exchange
Official email address: sales@coinmania.ge

Technical Specifications of nEURO for the Tron Blockchain:

Name: New EURO
Shortened name: nEURO
Full name in the Coinmania wallet: NewEURO
An abbreviated symbol in the Coinmania wallet: nEURO
Blockchain: TRON
Protocol: TRC20
Full name on the Tron blockchain: newEURO
Shortened name in the Tron blockchain: nEURO
Contract address: TYCEwoEmCx3yqob6nXLw1qkv9E9g8RE7kD

Distribution and Value on nEURO:

Virtual asset type: a stable virtual asset
Virtual asset price: 1 nEURO = 1 EURO (EURO)
The initial mint: 2023-08-10
Number of nEUROs minted: 1 000 000 000
Limitations on minting nEURO: Unlimited

Supporting nEUROs in Circulation:

nEUROs in circulation = the amount of nEURO available on the balances of Coinmania.ge / Coinmania.exchange users + the amount on Tron blockchain addresses =< the corresponding EUROs (EURO) counterbalance amount on the bank accounts of Coinmania Ltd.
Coinmania LLC transfers the minted nEUROs from the blockchain minting address to the hot wallet in order to supply the correct amount of nEUROs in the blockchain upon request.

Terms for Minting New nEUROs and Burning Those in Circulation

Minting new nEURO or burning will happen once a year.
An audit will be carried out at the end of each year for the following purpose: comparing the quantity of nEUROs in the hot wallet and on the blockchain with the actual amount in circulation among users of coinmania.exchange and coinmania.ge, as well as with the actual assets in Coinmania LLC's bank accounts using the following formula: Minted nEUROs = the nEURO on users' balances at coinmania.ge and coinmania.exchange + the amount placed on the addresses in the blockchain =< the counterbalance amount on Coinmaina LLC bank accounts in EUROs (EURO).
In the event that the audit reveals a positive or negative balance, new nEUROs shall be transferred to the hot wallet or destroyed.
End-of-year releases of the audit report and elimination document will be published on the official website: coinmania.ge/nEURO/reports.

How to Use nEURO

Coinmania users can buy nEURO by transferring EURO (EURO) via bank or from payment service providers' payboxes. Upon receiving the transfer, an automatic purchase of nEURO will be made, and the amount will be shown in the user's account balance. Buying rate: 1 nEURO = 1 EURO.
Coinmania users can sell EURO and automatically get EURO (EURO) in their personal bank account. Selling rate: 1 EURO + 1 nEURO
Coinmania users can send nEURO to one another both within and outside of the Coinmania site, via the Tron blockchain using the TRC20 protocol.
Coinmania users can exchange nEURO for another virtual asset using the Coinmania platform's quick exchange method at the exchange rate offered by the platform.
Users of the Coinmania platform can quickly trade nEURO for another virtual asset at the platform's offered exchange rate by using the fast exchange feature.
Coinmania users may exchange nEURO for another virtual asset via the Buy/Sell Exchange of the Coinmania platform, where they can specify the desired exchange rate.
Coinmania users can store nEURO on the Coinmania platform or blockchain indefinitely.
Transferring and receiving the virtual asset across exchanges is possible, provided that they have the necessary technical support.

A stable virtual asset is minted, allocated, and stored at the blockchain's mint address as a result of the development of a smart contract.
A small portion of the virtual asset is transferred to Coinmania's blockchain hot wallet.
Transfers initiated by Coinmania users outside the platform will be carried out from Coinmania’s hot wallet. The transferred amount will be deducted from the user's wallet and added to the recipient's blockchain address.
Transfers initiated by a Coinmania user within the Coinmania platform will be deducted from the user's account and credited to the recipient Coinmania user.
As for the blockchain, a Coinmania user will receive a stable virtual asset at the address of the blockchain assigned to them, which will be reflected in their balance.
The virtual asset received will be moved from the user's address to Coinmania's blockchain hot wallet.

nEURO: Stable Virtual Asset WHITE PAPER

Introduction

General Information About nEURO

Site Content

Information About the Issuer on nEURO:

Technical Specifications of nEURO for the Tron Blockchain:

Distribution and Value on nEURO:

Supporting nEUROs in Circulation:

Terms for Minting New nEUROs and Burning Those in Circulation

How to Use nEURO

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Buying, Selling, and Transferring

nEURO: Stable Virtual Asset WHITE PAPER

Introduction

General Information About nEURO

Site Content

Information About the Issuer on nEURO:

Technical Specifications of nEURO for the Tron Blockchain:

Distribution and Value on nEURO:

Supporting nEUROs in Circulation:

Terms for Minting New nEUROs and Burning Those in Circulation

How to Use nEURO

Minting, Holding, Adding to a Hot Wallet, and Moving the nUSDs

Buying, Selling, and Transferring

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