Yuro is a cryptocurrency designed to protect the value of your crypto assets. You send your Ethereum to Yuro’s smart contract address. It first calculates the current value of Yuro by comparing how much a basket of foreign currencies can be purchased by one Euro. Then the smart contract sends you Yuro tokens equal to the value of your Ether. The Ether you send is securely locked in the smart contract. When you want to redeem your assets, you send back the Yuro tokens, the Yuro smart contract calculates the current value of Ethereum when compared with Yuro and sends you back the equivalent Ether.
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The most significant part of any cryptocurrency is its foundation. Yuro is based on a solid foundation, the mathematical modelling is written by experienced engineers, scientists and
economists. The graph below shows fiat currency rates from 16th of July 2018 and their associating weights. To capture relative movements rather than subjecting the index to movements based on nominal values each currency is weighted according to the average GDP over the last 10 years. These figures form the bases of the example calculations.
A Stable currency is a currency which successfully performs its functions as a means of exchange, unit of account and a store of value because its purchasing power is stable. The
commonest way of measuring changes in the value of a currency, or its purchasing power, is the Consumer Price Index (CPI). This reflects the changes in the total price of a basket
of goods and services which are deemed to be consumed by an average household. A currency is stable when the general level of prices, measured by the Consumer Price Index, does not vary too much.
Cryptocurrency started primarily to answer the lingering frustrations of those of us whose money and assets are held by one centrlizd unit (and often intervened by the government itself) and whose transfers are limited and frozen at a timely basis. As mentioned in the previous section most cryptocurrencies suffer from high levels of price volatility due to many complex factors, such as government influences, social media influence, constantly in-stable public insight and highly speculative and unregulated markets.
The primary purpose of the crowd sale is to generate substantial Ether to fund the pool to minimize the likely hood of a black swan event. The remaining funds will be used for conducting security audits, future development etc. During the crowd sale standard Yuro tokens will not be issued. Instead special dividend tokens known as YDTs (Yuro Dividend Tokens) will be issued. Each token will be sold at a cost of roughly 20 cents with a minimum spend of 0.1 ETH required. A hard cap of 15 million tokens will be used.
Being the first cryptocurrency of its kind Yuro undoubtedly faced familiar as well as unique hurdles during its early stages of development. That being said, very few products in today’s world; physical and virtual, are released without having to overcome obstacles along the way. The Yuro Foundation team realized early on that due to the perplexing nature of the Yuro transparency was of utmost importance.
The European Union has undergone substantial and unexpected growth throughout 2016-17 showing a strengthening Eurozone economy with employment rising across the bloc barring the United Kingdom and Estonia, this coinciding with a 10 year high in economic growth, reduced perceptions of European political risk, weakness of currency rivals (the euro has appreciated to its strongest level against USD in 2 and a half years becoming the top performing G10 currency of 2017).
Before Yura dive into the development of Yuro, its important to understand the history of cryptocurrency. In 2008, Satoshi said he established A Peer-to-Peer Electronic Cash System”. The single most important part of Satoshis invention was that he found a way to build a decentralized digital cash system. In the nineties, there had been many attempts to create digital money, but they all failed until 2008, when Satoshi invented bitcoin. Here at Yuro believe in Satoshi’s concept, believe transparency.
Ali Alkadhimi CEO
Tadgh Riordan CBO
Zubair Masood CTO
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