Cosmos SDK


E-money is a network that supports a family of fiat-collateralized stablecoins (eEUR, eCHF, eSEK, eNOK and eDKK). E-money’s stablecoins are collateralized through fiat reserves that the foundation holds in commercial banks. Built with the Cosmos SDK, E-money provides a transparent, compliant, and stable cryptocurrency to enable cross-border payments and local businesses to shed fees.

Staking Information

Reward Distribution Period
Every block (~6 seconds)
Unbonding Period
21 Days
Validator Self-Bond Requirement
2000 NGM to be in active set. However does not have to be self-bond
Figment Validator Address
Recommended Wallet

Slashing Information

Double Signing
Excessive downtime may also result in jail time for 3,600 seconds.

Staking Guide

See Staking Guide here

Staking with Keplr

The easiest way to stake your NGM token is with Keplr browser extension.
You can use an existing account from either a software wallet or Ledger hardware wallet from the left sidebar by clicking the 'Sign in' button.
Then head to the Figment validator and click the 'Stake' button.
Note: once staked, it takes 21 days for your NGM to unstake.
Indicate the number of NGM you would like to stake. After you have approved the transaction, you can verify that you're staking by clicking the 'Portfolio' tab in the left side bar.

Staking with e-Money's Block Explorer

You'll need your NGM controlled by a Ledger hardware wallet to stake this way. Head to the e-Money block explorer website (this link takes you directly to the Figment validator) and select 'Validators' from the right side of the top menu bar.
Then find and select the Figment validator.
Connect your Ledger device to your computer, input your pin code, then open the Cosmos app on your Ledger device. If you need help with your Ledger, check out this article.
Click the green 'Delegate' button and indicate the amount you want to stake. Note that it takes 21 days to unstake.
Click the 'Sign' button and then approve the transaction on your Ledger device. You can verify that you're delegating your stake to Figment's validator by heading here and checking Figment's delegators.

Staking with the emcli command line interface (CLI)

If you’re using the e-Money command line interface ’emcli’, you can use this format for your staking delegation command:
emcli tx staking delegate emoneyvaloper1m5ymqqnem9tzdzul0xrpkw3d82kncyzdw772yl 1000000000ungm –from keyname –chain-id emoney-1–fees 200000ungm –node
  • “1000000000ungm” is equivalent to 1000 NGM
  • “keyname” is changed to the name of your key
  • “200000ungm” is a transaction fee equivalent to 0.2 NGM
Having difficulty? Contact us for support: [email protected]
Please reach out to [email protected] if you plan to stake more than 1 Million USD in NGM tokens.

Governance Overview

e-Money does not have any on-chain governance. Networks updates are handled by the core team and released on the official Github repository.

Ecosystem Overview

e-Money’s proactive regulation-focused approach has led to a diverse array of partnerships involving infrastructure providers, DeFi projects, assurance, and other service providers. For more information, visit their ecosystem page here.


e-Money FAQs
What is staking?
On a Proof of Stake blockchain, staking is the act of depositing tokens in order to become a validator; that is, to participate in proposing and attesting to transaction blocks. Anyone with a minimum necessary coin balance can validate transactions and earn staking rewards on these blockchains.
What is the name of the asset being staked?
e-Money's native token, NGM, is used to stake.
Where can I explore the network and create an e-money wallet?
Figment has developed e-Money Hubble.
How long does it take to stake and unstake?
From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your NGM tokens.
When are staking rewards and transfers enabled?
Staking rewards and transfers are currently enabled
Which type(s) and what rate of rewards can I expect? Can I stake locked/vesting tokens?
Vesting tokens may be staked. The rewards from staking NGM tokens come from three sources:
  1. 1.
    new issuance NGM tokens
  2. 2.
    transaction fees and
  3. 3.
    a markup on the currency-backed tokens.
New NGM tokens will be minted at the rate of 10% of the total supply each year, which will be distributed entirely to stakers. Transaction fees can be paid with NGM or in any of the currency-backed tokens and we expect trading activities on the DEX (decentralized exchange) to be the primary source of these.
The markup consists of an annual 1% inflation on each currency-backed token. The markup is applied continuously and distributed pro-rata to staked NGM token holders.
In short, the rewards that are distributed to staked NGM tokens are tied directly to the amount of issued currency-backed tokens. Current stable asset currencies that are supported are: EUR, CHF, DKK, SEK, and NOK. There are plans to support more currencies in the future.
Can I lose potential staking rewards?
Yes. If the validator you delegate to is offline for over six (6) minutes during 1 hour, you will not earn rewards for at least an hour or how long it takes for your validator to resume operations.
Can my staked NGM tokens be slashed (seized or destroyed)?
Yes, a portion of your staked NGM tokens can be destroyed. There are two ways this can happen:
  1. 1.
    If you delegate to a validator that is offline for over six (6) minutes during 1 hour, you will lose 0.01% of the tokens you have delegated to that validator.
  2. 2.
    If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.
Figment insures our clients from slashing and has never had a slashing event.
What is the rate of new issuance (aka "annual inflation") for NGM? How does the token supply change?
The e-Money network first launched on Mar 25, 2020 with a fixed token supply of 100M NGM. As of Nov 4, 2020, e-Money will begin issuing new tokens at an annual rate of 10% of the total supply, all of which will be distributed to stakers. e-Money's currency-backed stablecoins will be inflated by 1% per year, and these additional stablecoins will be used to buy back and burn NGM tokens. The NGM tokens are bought on e-Money's DEX (decentralized exchange) and will act as a deflationary counterbalance to the inflation of NGM.
What affects future yields?
The value of e-Money's tokens fluctuates based on the interest earned on reserve assets. Inflation of the NGM occurs at an annual rate of 10%. Once minted, the fresh NGM is distributed on a pro-rata basis to staked NGM only, so the more tokens that are staked, the greater the reward. Additionally, e-Money stablecoins are inflated by a yearly rate of 1%, which are used to buy back and burn NGM tokens, reducing the total supply.
Do I maintain custody of my NGM tokens? Who or what controls my staked NGM token?
Figment has partnerships with a number of top-in-class custodians. Please contact [email protected] for more inquiries. e-Money protocol takes control of your NGM tokens while you are staking. If you unbond your tokens, this process will take 21 days before the protocol returns your tokens to you.
How are decisions about e-money made and executed?
Since e-Money stablecoins are centralized (ie. currency-backed with a legal entity issuing thetokens), e-Money’s protocol uses a simple “authority key” that can change network parameters such as gas prices.
The authority key is controlled by e-Money A/S (the legal entity). The legal entity e-Money A/S can use the authority key on-the-fly to change gas prices (as they can fluctuate with exchange rates or as new denoms added, for example). The authority key can also add new stablecoin issuers on-chain. All other parameters (eg. slashing penalty) are set when the chain is launched (ie. genesis) by the validator set.