- Where does the STASIS name come from and what does the logo represent?
- In physics STASIS, pronounced stey-sis, refers to the balancing of various forces in order to reach equilibrium or keep something in one place. Our tokenization services account for all the forces that affect a digital asset, from technology to corporate structure, and from government relations to public relations. To do this, we’ve pulled together an ecosystem of licensed financial intermediaries, top law firms, and a top global accounting firm. Each party contributes to the ecosystem based on their own particular expertise, allowing us to create a comprehensive framework for tokenization while ensuring that a digital asset mirrors its off-chain counterpart in the long run. Despite shifting regulatory and economic environments, the assets we tokenize stay the same; they’re in stasis.
- Who manages the reserves and how?
- The reserves are held in accounts at partner institutions that Stasis foundation members voted for and we’ve determined and are structured in such a way to keep them as safe as possible. To learn more about the reserves and view our daily account statements, visit our Transparency page.
- Is STASIS a market maker?
No, STASIS is not a market maker. We do, however, have identified service providers who are motivated to provide liquidity for EURS. The up-to-date list is available here.
- Who are the customers of STASIS, currently and in the near future? What incentives drive customers and/or businesses to use STASIS?
- Our customers are the companies and projects interested in the latest blockchain technology applications in payments, settlements and asset tokenization. At the moment we are focused on fungible assets such as currency. However, we also have the capability to tokenize non-fungible assets such as fine art. We have worked hard to create the digital analog of EURO and we believe that in the near future our solution will be the most popular and widespread in the stablecoin space due to numerous benefits such as low volatility, access to reliable currency, availability of сross-border transactions, instant payments and lowest interest rates possible.
- Where do you see your product actually being used by the community and solving real-world problems?
- The EURS token is created and aimed at bridging the gap between decentralized finance and the off-chain market. Our stablecoin can be suitable for various use cases. Moreover, the European Central Bank (ECB) encourages private companies to pioneer stablecoin project initiatives. With further growth of the cryptocurrency market and broad popularity (Deutsche Bank has predicted digital assets to overcome fiat currency by 2030), it has all the chances of becoming one of the leading payment solutions in the forthcoming future.
- What's the algorithm used by STASIS?
- Since the very beginning, we’ve been looking for a protocol that allows for trust quantification - our CEO spoke about it in his TEDx talk. We decided not to create our own solution, but to go with the most popular DLT platform available nowadays - Ethereum. This is one of the most popular grounds for many projects and we went along with it when releasing our product.
- What other types of strategies are you implementing to increase the network effect of STASIS?
- The strategies we are pursuing include lending, remittance, acquiring and corporate settlements commercialization. We are also thinking of ways to improve user experience and customer-driven development.
- What are the competitive advantages of the STASIS project? What advantages do you have that other competitors? What would be STASIS’ most similar contender in the market today in terms of scalability, security, features, and adaptability?
- There have been more than 200 stablecoin projects announced since 2017 and only 30% of the stablecoins ever released continue to exist according to the data collected by Blockdata research. STASIS has been developing its cryptocurrency with a strong focus on regulations since day one. We’ve accumulated solid experience and expertise in various finance, IT and legal areas to produce a world-class product, that is now the largest euro-backed stablecoin on the market.
- The Libra and Circle projects are the main projects that can be comparable.
- What does the project have to do with STASIS’ adoption of the blockchain platform? How does STASIS deal with security, speed, and scalability?
- We are working with other blockchain platforms that are ready to bring adoption to the project. We are able to make seamless blockchain transactions from all of these platforms with one fungible token and fuse it with our infrastructure. For now, we utilize Ethereum and are deeply satisfied with it, but as soon as other blockchains start to scale, we can deploy our product there.
- How does STASIS bring value to users?
- According to network theory, STASIS will acquire value overtime with the growth of a fiat settlement network around EURS transfers, trading pairs on exchanges around the world, plus an increase of usage in acquiring, remittances and corporate settlement. Alongside this, STASIS is a revolutionary step towards the emerging E-currency 2.0 as it combines the vast potential of the cryptocurrency market with the stability and reliability of traditional currencies.
- Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does STASIS have any special plans to attract and expand the community and improve the user experience?
- Our mission is to educate people on topics around digital assets and stablecoins - we write books, educational articles, attend conferences to promote EURS for food & drink payments and more. We are also always happy to explore partnerships that will motivate usage globally.
- What is the business model of STASIS? How does it generate revenue for development?
- Our custodians pay us a small yield from the reserves and STASIS ecosystem participants share revenue from customers we refer to them. Download the Stasis Wallet, subscribe to our newsletter, and stay in touch with us via our website and social media channels to be the first to know of any STASIS updates and announcements!
- We are witnessing many projects enter the blockchain industry with very good plans and promises to do good work, only to disappear and lose community. How can STASIS survive this challenging time?
- Due to various statistics, 95% of projects of the crypto market had been considered scams. STASIS has never been engaged in any illicit activities and or ever pursued unrealistic goals. We continue to develop a solution, which may bridge the gap between decentralized finance and the off-chain market: a true E-currency 2.0. We keep our community updated on any vital milestones we pass and we have lots of plans ahead of us. Our team plans to adapt to the crypto industry and switch to the blockchain solution which may have the best market performance and scalability in the future.
- What can we do to keep increasing adoption and tokenization? What types of assets can you tokenize and what assets will you tokenize next?
- Spread the friendly regulation model around, allowing for sandboxes and entrepreneurs to test business models with this exciting technology, disrupting clearing custody and settlement services on this planet.
- Theoretically, any type of asset with clear ownership can be tokenized. Right now STASIS is focused on tokenizing fungible assets such as currency and stocks. However, we have the capability to tokenize non-fungible assets as well (e.g. fine art), so if you’re interested in this feel free to contact us.
- We’re exploring opportunities with fungible assets where the market would benefit from either deeper liquidity or fractional ownership (or both). To stay up to date on new announcements, you can follow us on Medium and Twitter. If you’re interested in working with STASIS to tokenize a particular asset, you can send us an email at [email protected].
- What is EURS?
- EURS is a digital EURO, or stablecoin, designed to mirror the price of the euro. It’s fully backed by euros held in our reserve accounts. You can find more information about EURS here.
- Is your cryptocurrency really stable?
- Since it is backed by fiat euros, market arbitrageurs are incentivized to buy when price is lower and sell when price is higher. Various partners charge different fees, market forces may cause price fluctuations. With absolute security in place, arbitrageurs are financially motivated to maintain a stable course.
- Where can I buy EURS?
- Most people get EURS through our network of partners or on exchanges. You can find a full up-to-date list of exchanges here . We can do a direct emission for investors and institutions looking to acquire a large amount of EURS. For more information on this, you can contact us at [email protected].
- Can I exchange EURS for fiat euros?
- Yes. You can buy EURS on various popular crypto exchanges. However, we recommend our clients to purchase EURS stablecoins straight from the source - via STASIS Sellback Service: SCB.
- Can I transfer EURS to any Ethereum address?
- EURS is an ERC20 token and can be sent to any Ethereum address. However, not all wallet applications have EURS support in their user interface.
- I transferred EURS to another Ethereum address and it isn’t showing up. What should I do?
- As an ERC20 token, EURS can be sent to any Ethereum address. If the tokens aren’t showing up, we recommend contacting the provider of the wallet or exchange where you sent them. For further assistance, you can contact us on Telegram. Check the balance using ethereum blockchain explorer.
- Can I recover an address from another wallet?
- Yes, you can recover any Ethereum or Bitcoin address as long as you have the private key. We use m/44’/60’/0’/0 derivation path.