EUROX is a digital token backed by dedicated assets securely held by foundation Stichting Token Factory, Netherlands.
Through a buy-back program, Token Factory promises to always do its utmost to buy back this token for one euro. The balance sheet of Token Factory is publicly viewable, and is also regularly audited by AVZ Administraties, Wateringen, Netherlands.
EUROX is created in two steps. First, the Token Factory obtains the assets, in this case euros. These will be held by the foundation Stichting Token Factory. Next, ERC20 tokens are minted based on the dedicated assets registered on the balance sheet of Token Factory.
EUROX, like all tokens in RONIN, can be bought, swapped, and sold for euro. However, you cannot withdraw EUROX outside of the app. EUROX is minted on a demand basis. This means that it can “Sell Out” and become unavailable until more tokens are minted.
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