ART and EMT - What are they? Is VNST categorized as ART or EMT?

VNST

2024-02-05

ART and EMT are two prominent types of cryptocurrencies protected under the MiCA legal framework of the European Union. Let's discover their definitions in this article.

What are ART and EMT?

ART (Asset-Referenced Token) and EMT (Electronic Money Token) are two key types of cryptocurrencies safeguarded by the European Union's Ministry of Finance (MiCA):

  • ART (Asset-Referenced Token): This token references assets, ensuring its value by being tied to a specific asset, currency basket, or commodity. ART not only brings transparency to its value but also provides stability and reliability to users through connections with tangible value sources.
  • EMT (Electronic Money Token): It is an electronic token pegged to legal tender, encompassing most fiat-backed stablecoins. These cryptocurrencies maintain their value by linking to legal tender, creating a bridge between the traditional currency world and the innovative cryptocurrency space.

MiCA's protection signifies its commitment not only to the sustainable development of the cryptocurrency market but also its special concern for cryptocurrencies referencing asset values and legal tenders. MiCA offers clear principles and guidelines for the safe and transparent development of such cryptocurrencies.

Learn more about the MiCA legal framework here.

Is VNST ART or EMT?

VNST is classified as an ART (Asset-Referenced Token). To ensure the stability and transparency of its value, VNST has established a rate mechanism with the VMM cryptocurrency.

For further details on the VMM rate-setting mechanism, click here.

Notably, to enhance the community's confidence, the project has established a reserve fund of up to 100 billion VNST. This measure not only helps maintain liquidity but also creates a robust protective layer, minimizing market volatility and prioritizing the community's peace of mind and trust.

About VNST

VNST is a decentralized stablecoin, distinguished by the transparency of on-chain data and backed by the stability of the most reputable global stablecoins. With a commitment to providing diverse and convenient choices for Web3 users, VNST promises to be a safe and efficient financial instrument for the Web3 community in Vietnam and globally.

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