AEUR is a token backed 1:1 by the Euro.
It's the simplest form of a blockchain token pegged to a fiat currency, as 1 Euro deposited results in 1 AEUR token on the blockchain, and the withdrawal of 1 AEUR token will always result in 1 Euro sent to your bank account. Minus a service fee.
Who is behind the AEUR token?
The token was launched in February 2018 by MB Ardorgate, and its gateway service (the transfer of fiat to the blockchain and back) is provided in partnership with Lithuanian bank Mister Tango. The AEUR token is a child chain token on the Ardor blockchain platform.
MB Ardorgate is a registered company in Lithuania, founded and run by Martynas Bacevicius, blockchain engineer and veteran member of the Nxt and Ardor blockchain community. Mister Tango is a registered electronic money institution supervised by Bank of Lithuania, activity licence No.11. Ardor is a blockchain platform built on Nxt technology by Jelurida B.V., also the core developers of Nxt, the longest running 100% Proof-of-Stake cryptocurrency platform (since Nov, 2013).
All transactions are secured by a global decentralized network of nodes in consensus, and all sent data is timestamped, hashed cryptographically, and immutably stored on the Ardor blockchain. Your AEUR's are kept in YOUR wallet. You can transfer them to others directly, without depending on a bank - you don't have to wait for them to wake up and make your transfer next Monday. With no expensive middle-men to pay or trust to release your money: nobody to take an extra fee. At any time of day, you pay a €0.001 fee to the network for including your money transaction in the blockchain, add an encrypted message to the recipient if you want, and 1 minute later the AEUR is in the recipient's account, no matter where she/he lives in the world.
Overwhelmed? Stick to using it as a currency.
Or take the red pill. Dive down into the rabbit hole and learn how to use the disruptive advantages of Blockchain.
In short: AEUR is issued with a number of "smart contracts", or inbuilt "services", within reach.
As part of a larger network, the Ardor Blockchain-as-a-Service platform, and ecosystem, it inherits features like:
> Trade on a decentralized exchange
> Make a crowdfunding campaign in AEUR
> Issue your own tokens, which are pegged to the Euro
> Upload and timestamp small files like contracts on the blockchain
> Send messages, public (for anyone to see) or in private (encrypted) to friends
> Set up a vote where the result is immediately visible to all, and the result cannot be tampered with.
Everything secured and recorded on the blockchain, and without any expensive 3rd party fees to pay.
With IGNIS you can issue assets, that can be bought and sold for AEUR, control who is able to trade your assets (only KYC/AML reviewed people, for example), pay dividends to your shareholders, set up extra account protection (2-FA), set up multi-signature transactions and accounts (if you have a board of decision makers), have asset holder voting rounds, and, of course, with everything on the blockchain. And that's not it. For a full overview of the possibilities, look into IGNIS.
Frequently Asked Questions
answered by AEUR child chain founder Martynas Bacevicius, Ardorgate
You can buy AEUR with Euro through a website: www.ardorgate.eu. Please check a tutorial on how to buy AEUR at https://www.ardorgate.eu/tutorial/
At the moment you can buy AEUR with Bitcoin at www.stex.com exchange. More exchanges are in the plans.
You can withdraw AEUR to Mistertango bank accounts right in the Ardor client. Please check https://www.ardorgate.eu/tutorial/
Your AEUR's are in the Ardor blockchain as AEUR child chain coins.
You can lose your AEUR, if you lose your AEUR account passphrase.
Nobody but you knows your passphrase, so nobody can recover it if you’ll lose it. So, keep it safe.
There is no separate AEUR wallet yet. Please use the official Ardor client.
You can keep track right in the Ardor client or with Ardor block explorers, like www.ardorportal.org
Almost everyone can get a bank account with Mistertango, but please check their resources for sanctioned or other restricted countries.
At the moment my fee is 1%, but not less 5 EUR.
Ardorgate is legal company and it cannot run away without consequences. You can always check the amount of real EUR kept in reserve at the top www.nxter.org/aeur or at the top of www.ardorgate.eu.
Everything can happen, so do not keep all your life savings in crypto. Your AEUR will still be in the blockchain and we are sure, we’ll find a solution. Ardorgate is a legal company, so it cannot disappear without the consequences. Mistertango is also a legal company, regulated and licensed by the central bank of Lithuania.
It depends on merchants, who accept AEUR as a payment option. At the moment, there are no merchants accepting AEUR, but a few are in the pipeline.
Ardorgate uses the Ardor blockchain platform because of its design and functionality. AEUR is an independent child chain, which security is ensured by the Ardor main chain. AEUR is a fast, secure and cheap way of transferring EUR value between users. AEUR is pegged to real EUR on 1:1 basis, so there is no risk of volatility.
Theoretically possible, but then the whole Ardor blockchain must also be stuck.
Everything created by people can be hacked by other people. The Ardor blockchain platform is based on Nxt's blockchain protocol, which has been running for 5 years without any hack or problem.