NumBlog

Num Stablecoins (Num-S) follow the price of legal tender currencies from Latin American countries. Currently, the Num-S in circulation are: nuARS, which follows the value of the Argentine peso, and nuPEN, which does the same with the Peruvian sol. These tokens were initially deployed on the BNB Chain.

A common question among users is what are the benefits of using stablecoins for Latin American currencies. It is important to understand that Num-S is a token to access various tools of decentralized finance. Our goal is to offer better credit opportunities, yields, and access to other financial services through Num-S. The tokens we issue bring the usual conveniences of operating with local denominations plus the benefits of operating on the blockchain.

What are those benefits

• Loans. Num-S collateralized loans with cryptocurrencies can be offered. If you need liquidity, it is not necessary to sell your cryptocurrency savings. Simply use them as collateral, get your Num-S, and use them as you wish. You can exchange them for fiat currency or operate within the blockchain as you wish. The goal is to offer access to credit in a simpler way and eliminate barriers of the traditional system. As if that were not enough… the interest rates of loans in the crypto ecosystem can be more beneficial for the user!

Yields. Num Finance offers yields to users of its tokens through selected partners. For example, currently, Num Finance delivers rewards in nuARS through Bitera and Buenbit (and soon there will be more news!). It is a way to incentivize its use and provide users with a tool for small savings.

Payments and operations. It is increasingly common to make payments through cryptocurrencies. Dollar stablecoins are usually the most used coins to make them. But in our daily lives, we still think and use local currency. The possibility of making payments on the blockchain with local denominations is a great advantage for users.

Anyway, the range of possibilities offered by the use of cryptocurrencies as a means of payment is not yet fully exploited. Being tokens deployed on the blockchain, it is feasible to program and automate payments. The scenarios presented by this situation are infinite and can bring many solutions in the future.

It is also possible to make P2P operations to buy or exchange Num-S. There are already several groups where these types of operations are carried out. On the other hand, Num-S can facilitate remittances. For example, a Peruvian living abroad could send nuPEN to their family members in Peru so that they can exchange them for soles with low commissions and immediately at any time.

The use cases related to payments, money transfers, and operations are unlimited and will arise as the adoption of cryptocurrencies grows. At Num Finance, we are developing tools to facilitate these operations.

• Integration with protocols. As we explained previously, the utility of Num-S is enormous and has much to evolve. It is key to understand that Num-S is a tool that can be integrated into any DeFi development to offer new products. At Num Finance, we encourage the creation of new developments using our tokens.

Inherent benefits of the blockchain. All these use cases that we detail have the benefits of using the blockchain technology that we advocate.

Conclusions

All these benefits apply to the cryptocurrencies we currently issue and will issue in the future. Day by day, we will see more and more applications, and Num-S will be a great way to unite our real economy with decentralized finance.

We believe that it is precisely in the Latin American region where DeFi can have the greatest positive impact on the lives of citizens and the activity of companies. There are serious monetary problems such as inflation or capital controls, lack of access to credit, overly complex financial products, and deficient banking systems. These problems cause Latin Americans to seek new alternatives every day to escape the traditional system. Security and privacy become much more urgent and necessary values for the population of our region. At Num Finance, we are working to offer the best solutions.