USDM has many advantages and a high rating. Its ICO is live
Moneta’s native token USDM’s ICO ends on July 24, 2021, and currently, it is one of the hottest offerings on the market. In this solution, the team calls fiat pegged cryptos “Moneta.” The company plans to issue all Monetas on the blockchain initially. As a result, they exist only as a cryptocurrency token. Furthermore, the team backed each Moneta unit issued into circulation in a one-to-one ratio by the corresponding fiat currency unit held in deposit by Moneta Holdings. That means one Moneta USD is one U.S. dollar; one Moneta EUR is one Euro, etc.
According to the company, users may redeem or exchange Monetas for the underlying fiat currency according to Moneta Holdings terms of service or, if the token holder prefers, the equivalent spot value in any other digital currency. Furthermore, once a Moneta has been issued, it can be stored, transferred, spent, etc., just like any other crypto.
The platform’s native USDM token is ERC-20. A total of 2,800,000 USDMs are available for sale, and the price is 1 USD per token. The company is accepting BTC, ETH, and USDT in exchange.
How can investors use Moneta?
In the case of Moneta, the fiat currency on reserve has gained the properties of crypto. Furthermore, its price is monetized to the price of the fiat currency, and this monetization is permanent. According to the company, its implementation has various advantages over other fiat pegged cryptos.
For instance, Monetas exist on the blockchain instead of being within closed source software running on private, centralized databases. Thus, customers can use them just like bitcoins, i.e., in a p2p, decentralized, pseudo-anonymous, cryptographically secure environment.
They can also integrate Monetas with exchanges, merchants, and wallets just as easily as Bitcoin or any other digital coins.
Furthermore, Monetas inherit the properties of the Layer protocol, including open-source, browser-based, wallet encryption; a decentralized exchange; blockchain-based accountability and transparency, multi-party security, and reporting functions.
Moneta Holdings also employs a simple and effective approach for conducting Proof of Reserves. That significantly reduces its counterparty risk as the custodian of the reserve assets.