Egoras Credit (EGC)

Egoras Credit (EGC)

Coin Information

Flag of Nigeria Nigeria (NG)
Blockchain icon Blockchain: Binance Smart Chain
Ticker icon Ticker: EGC
Type icon Type: Token
Company icon Company: Egoras Technologies LTD
Asset or Contract address icon Contract:

Market Cap

$20 106

Fully Diluted Valuation

$3 350 962

Supply

Circ icon Circ.: 3 000(1%)Question Mark Icon
Total icon Total: 500 000
Max icon Max: 500 000

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Price Chart

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What is Egoras Credit?

The Egoras Credit (EGC)

As a utility token, EGC is required for paying the inventory fees accrued on Loans that have been used to generate EUSD in the Egoras Protocol. Only EGC can pay these fees, and when paid the EGC is burned, removing it from the supply. This means that if the adoption and demand for EUSD and Egoras Credit system increases, there will be additional demand for EGC so users can pay the fees. It also means the supply will decrease as EGC is burned.

How EGC Facilitates the stability of EgorasUSD

If demand goes down for the EUSD, prices will fall on secondary markets. What happens then? Suppose the redemption price of EUSD is $1.00. If the price of EUSD on the open market is $0.98, arbitrageurs will be incentivized to buy it up and redeem it with the Egoras smart contract for $1.00 worth of EGC or eNFTs. They will continue buying in the open markets until there is no more money to be made, which is when the market price matches the redemption price of $1.00. The same mechanism works in reverse when demand goes up. If the price of EUSD in the open market is $1.02, arbitrageurs will be incentivized to purchase newly minted EUSD tokens for $1.00 worth of either collateral or Egoras Credit tokens (the latter only if there is an excess pool of EUSD tokens available), and immediately sell them in the open market. They’ll continue selling in the open markets until there is no more money to be made, which is when the market price matches the purchase price of $1.00.”

Frequently Asked Questions

The current price of Egoras Credit EGC is 6.70192 USD.
The circulating supply of Egoras Credit is 3000.
The total supply of Egoras Credit is 500000.
The max supply of Egoras Credit is 500000.
Egoras Credit is based in: Nigeria.
Egoras Credit is a token running on the Binance Smart Chain blockchain.
Egoras Credit reached an all-time-high of 29.3209 USD on 3 Sep 2022.
The contract address of Egoras Credit is 0xd68e5c52f7563486cc1a15d00efa12c8644a907e.

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