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Summary of Num ARS v2
- Num Finance aims to create stablecoins tracking emerging market currencies.
- Most stablecoins currently track developed nations’ currencies (e.g., USDT, USDC, DAI).
- Num Finance seeks to promote decentralized finance in emerging countries through Num Stablecoins.
- Num Stablecoins can help mitigate monetary problems in emerging economies (inflation, capital controls, lack of access to credit).
- Num Finance was created in 2021 by Mariano di Pietrantonio, previously part of MakerDAO.
- In 2021, Num Finance launched its first stablecoin, Num ARS (nuARS), tracking the Argentine peso.
- Numbers and figures:
Introducing Num ARS v2: A New Era of Innovation
NUM Finance is a pioneering project that seeks to establish a suite of stable cryptocurrencies, aptly termed Num Stablecoins, which are specifically designed to mirror the value of emerging market currencies.
Presently, the crypto assets market is home to a multitude of stablecoins. However, the majority of these digital currencies peg their value to the currencies of developed nations. Notable examples of this phenomenon include stablecoins that mirror the value of the U.S. dollar, such as USDT, USDC, and DAI, among others.
The existence of these tokens was pivotal in shaping the decentralized finance ecosystem that flourishes today on prominent blockchains. In tandem with the circulation of these stablecoins, activity in decentralized finance protocols has been gaining momentum. Notably, while numerous stablecoins track the value of currencies from developed nations, there is a scarcity of those from emerging economies or Latin American markets.
Num Finance is dedicated to democratizing access to cryptocurrencies and decentralized finance for millions of individuals and businesses in emerging markets, achieved through the development and advocacy of Num Stablecoins.
In these countries, where monetary challenges such as inflation, capital controls, limited access to credit, and intricate financial products are prevalent, decentralized finance has the potential to exert a profound impact on the daily lives of citizens and the economic vitality of businesses. Through the proliferation of Num Stablecoins and their increasing adoption, Num Finance aims to bolster local currencies by introducing a product that can be utilized by market participants in a fully open and unrestricted manner.
Num Finance was established in 2021, founded in part by Mariano di Pietrantonio, who currently serves as Co-Founder and Head of Strategy at Maker Growth. Notably, di Pietrantonio was previously a member of the team at MakerDAO, the esteemed institution behind the decentralized stablecoin DAI. In the same year, Num Finance successfully launched its inaugural stablecoin, the Num ARS (nuARS), which is pegged to the Argentine peso.