nGEL: Stablecoin equal to 1 GEL


New GEL (nGEL) is a stablecoin, equal to one Georgian Lari. It is the first stablecoin issued by COINMANIA LLC.

Buy or sell nGEL on coinmania.ge and coinmania.exchange. Use Express Withdraw method to send nGEL to coinmania users with zero fee.

Technical details

  • Full name: New GEL

  • Short name: nGEL

  • Smart Contract Address: 0xf7dB73eF42b6fB4627756871F463D0B311Ec79C8

  • nGEL is ERC-20 token in the Ethereum blockchain

  • All wallets that have support of ERC-20 protocol can send and receive nGEL

The first emission

  • Date: 23.03.2021

  • Number of nGELs emitted: 1 000 000 000

New issue and redeem rule

  • New nGELs are emitted or redeemed once a month.

  • At the end of each month, an audit will be conducted to compare the number of nGELs issued with Coinmania LLC bank reserves.

  • According to the results of the audit, new nGels will be emitted or redeemed.

  • The audit report will be made public at the end of each month.

Schematic description of nGEL traffic


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