Stability across asset classes
Emin Stable
ConceptA concept for a family of stable instruments referencing major currencies and commodities, each intended to be redeemable against published reserves rather than algorithmically pegged.
What the papers say
A stablecoin described in the Whitepaper as fully backed by physical gold.
What it is meant to do
Reference basket, not one peg
The design intent covers multiple currencies and commodities including gold, so exposure is not concentrated in a single reference asset.
01Redemption by design, not by algorithm
The intended mechanism is 1:1 redemption against a held reserve. An algorithmic peg with no reserve behind it is a different, riskier instrument and is not what is being designed here.
02Audit before issuance, not after
A reserve that has not been independently audited is a promise, not a stablecoin. No instrument is issued under this name until that audit exists and is published.
03Gold specifically, evidenced
The published papers describe a gold-backed instrument merging the transfer speed of a digital asset with the stability of a physical reserve.
04Not yet true
Stated plainly, not hedged
- No reserve has been established for any referenced asset
- No independent audit of any reserve exists
- Nothing under this name has been issued
- No redemption mechanism has been built or tested
What has to happen first
A held and independently audited reserve, published in full, before a single unit is issued.