E-AED Stable Coin

The E-AED (asset code EAED) or Electronic Dirham is a Stellar-based coin tethered 1:1 to United Arab Emirates Dirham. The electronic coin is backed by fiat money deposited in UAE bank accounts, audited periodically by a 3rd party auditor. The proof for the value behind the coin are posted regularly on the eaed.ae website.

This is a no-nonsense coin for payments and storing value. You can use it to store value tethered to a fiat asset or just pay for services and goods. Day-to-day payments will work fine with EAED, since the confirmation time is near-instant and micro-payments are a core-feature for the Stellar technology.

Transparency – clear overview for coin users through periodical audits published on the website

Performance – fast operations and very high capacity (Stellar transactions are confirmed in 2-5 seconds and tests showed that Stellar can handle up to 10.000 transactions per second – values that are orders of magnitude better than Bitcoin, Ethereum and Binance *Smart* Chain)

Low Operational Costs – near zero trasnaction fees, usually less than 0.001 XLM

Open – Stellar Assets can be exchanged freely on the Stellar Distributed Exchange

The amount of any tethered coin should be variable, based on the credit deposited in the bank and EAED is no exception. For this reason the Issuer Account is not locked and new coins can be issued or burned, based on demand. 

The amount available on the market is public and can be checked by anyone on Stellar.Expert explorer in a fully transparent way.

In order to secure the asset issuing process, we use the multi-signature feature for the issuing wallet, requiring a couple of signatures from different people before the issuing transaction an be relayed to the network. This ensures that no single person can start issuing coins on their own, as well as some resilience in case one of the signer accounts is compromised.

EAED is an Asset on the Stellar Blockchain. The coin is issued by the following address: 

GASTZD5CGOYGFFDZHSIZ56AWEEBAV4GLHEUDZHWDLVAJTEIR372ZAYZ2

The issuer account is tied to the domain thecryptobanker.com.

The status of the asset can be checked on the Stellar.Expert blockchain explorer site by visiting the following link:

https://stellar.expert/explorer/public/asset/EAED-GASTZD5CGOYGFFDZHSIZ56AWEEBAV4GLHEUDZHWDLVAJTEIR372ZAYZ2-1

Since this is a Stellar coin, the transaction confirmation time is super-fast, taking somewhere between 2 to 5 seconds for each transaction to be confirmed.

Any Stellar account can hold EAED and we are fully interoperable with any Stellar wallet application.

The EAED is not tied in any particular way to XLM (Stellar Lumens, the native asset used on Stellar blockchain). However, just like ETH, BNB or TRON, there is a need to have a minimum XLM balance in your account before you can send or receive EAED. This is a requirement from the Stellar side in order to ensure that traffic passing on the Stellar network is legit and it is not just Spam traffic.