NuARS is a new cryptocurrency tied to the peso that promises “financial freedom” as an alternative to the traditional system. It was developed by Num Finance and the objective is to create stable cryptocurrencies for emerging countries following the value of local currencies, offering a network of Latin American cryptocurrencies.
NuARS seeks to become an input to develop all kinds of DeFi tools: such as loans, deposits, P2P exchanges, and even futures markets and other applications. It would also make it possible to generate savings with higher interest rates than those obtained in the traditional banking system.
This is an innovative solution for those people who use the peso for various operations, now being able to do so within the crypto ecosystem. The purpose of nuARS is not hoarding to safeguard value, but person-to-person exchange, collecting and making payments, guaranteeing parity with the Argentine peso and, above all, the benefits of decentralization.
With nuARS, holders can Perform P2P transactions in nuARS in a decentralized and private way instead of making a traditional transfer via CVU (fintech) or CBU (traditional banking).
The token is available on PancakeSwap which allows the user to exchange it for dollars immediately and at a transparent price. For this purpose, NUM Finance has already launched a US$2 million liquidity pool on this platform.
Any user will be able to offer loans in nuARS in exchange for DAI or USDT as collateral, which will make it possible to have more attractive interest rates than those offered by the traditional financial system.
The token has a base of more than US$200 million in circulation and is already being listed on leading exchanges. The recent launch of nuARS will soon be followed by new launches in Latin American countries such as Peru, Mexico and Brazil. All NUM stablecoins will be, in this first stage, collateralized only in other cryptocurrencies, and in a second stage they will also be collateralized in fiat currency.
