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.
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
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