EuroX is valued in Ronin One at 1 euro. The token was created by and is maintained by Token Factory. To maintain value behind the token, Token Factory holds assets which are regularly audited by a Dutch accounting firm. The first creation of EuroX (10,000 EUROX) was backed by a deposit of 10,000 euros, securely held in a bank vault in The Hague, NL.
EuroX was created based on an ERC20 contract, meaning that while it was inspired by one of the most well-known forms of money, it was created with fast, smart, new technology.
Like all “X Tokens”, EuroX was created by Token Factory. The assets that maintain the value of EuroX are held by Stichting Token Factory, which is a not-for-profit institute in the Netherlands. It is the not-for-profit institute that is responsible for doing its utmost to serve as a failsafe for people who use X Tokens. Would you like to learn more about the Token Factory, the institute, and exactly how they work to create and back X Tokens? Please visit tofa.io.