Backing

Genifi adheres to a transparent approach and a strict 1:1 fiat backing policy. This approach ensures that users can trust the stability and security of issued stablecoins, knowing that each token is fully backed and transparently managed.

Key Features

• 1:1 Fiat Backing:

  • Each stablecoin is fully backed by an equivalent amount of the respective fiat currency.

  • Examples include Euro backing for EURO and USD backing for USDO.

• Proof of Reserve:

  • Reserve holdings are transparently disclosed via the Chainlink Proof of Reserve Oracle.

  • A link to the Proof of Reserve will be provided at the time of mainnet deployment. The audits are conducted by independent auditors.

• Treasury Management:

  • Tokens held in the stablecoin treasury contract are unbacked and not in circulation.

  • The treasury acts as a staging ground for stablecoins, which are sent into circulation upon receiving a minting request from a client.

• Segregated Reserves:

  • Reserves backing the stablecoins are kept separately from Genifi's operational resources.

  • This segregation follows guidelines set by the EMI license and relevant regulatory authorities.