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Introducing EURS: The Euro-Backed Stablecoin Now Available on Stabull DEX

Published On: Jul 31, 2024•By •
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In the ever-evolving landscape of decentralized finance (DeFi), stablecoins have emerged as a crucial bridge between traditional finance (TradFi) and the dynamic world of the Web3.

One such noteworthy stablecoin is EURS by Stasis, a Euro-denominated digital currency now available on Stabull’s decentralized exchange (DEX). This blog post will delve into the details of EURS, its robust support across various blockchain networks, and its exciting integration into the Stabull DEX.

What is EURS?

EURS is a Euro-backed stablecoin created by Stasis, a Web3 fintech company founded in 2017 in Malta. This stablecoin is designed to offer a reliable bridge between the traditional financial system and the burgeoning DeFi ecosystem. One of the standout features of EURS is its rigorous backing: each EURS token is backed 1:1 with liquid euro balances, with reserves held at the Lithuanian Central Bank. This ensures that EURS maintains a stable peg to the euro currency.

Issued since 2018, STASIS EURO is also the oldest and most transparent euro stablecoin legally accessible in 175 countries.

Key Features of EURS:

Broad Blockchain Support: EURS is available on multiple blockchains, including Ethereum, Arbitrum, Polygon, Ripple, Algorand, XDC Network, and Stellar.

Regulatory Compliance: EURS complies with the EU Markets in Crypto-assets (MiCA) Regulations, providing a solid regulatory framework that ensures the stability and legality of transactions using the stablecoin.

Trusted Auditing: The reserves backing EURS are audited by BDO, one of the world’s leading accounting firms, further enhancing trust in its stability and reliability.

EURS on Stabull DEX

With the introduction of EURS, Stabull users can now enjoy on-chain access to the most traded FX pair in the world and exposure to a currency used by over 350 million people across 20 countries, everyday.

The two EURS pools deployed on Stabull are:

  • Ethereum EURS/USDC Pool: 
    0x865040f92ac6cca1b9683c03d843799d8e6d1282
  • Polygon EURS/USDC Pool: 
    0xF80b3a8977d34A443a836a380B2FCe69A1A4e819

This integration brings several benefits and features:

Seamless Swapping

Stabull DEX offers a smooth and efficient swapping mechanism between EURS and USDC, as well as a number of other fiat backed stablecoins:

  • 1GBP by poundtoken (British Pound Sterling)
  • TRYB by BiLira (Turkish Lira)
  • NZDS by Techemynt (New Zealand Dollar)
  • XSDG by StraitsX (Singapore Dollar)
  • BRZ by Transfero (Brazilian Real)
  • GYEN by GMO (Japanese Yen)

Low Fees and Fast Execution

Stabulls proactive AMM design dynamically re-centers liquidity around an off-chain EUR/USD oracle, minimizing slippage on swaps. Coupled with a low 0.05% swap fee per pool, Stabull offers low-cost, fast and trustless swaps.

Liquidity Pools and Earning Opportunities

EURS holders have the opportunity to join liquidity pools on both Ethereum and Polygon networks. By providing liquidity, users can earn a share of trading fees generated from EURS swaps as well as participate in the liquidity mining program, making it an attractive option for those looking to maximize their returns.

Conclusion

The addition of EURS to Stabull marks a significant milestone in the DeFi ecosystem. As one of Europe’s premier fiat-backed and Euro-denominated stablecoins, EURS brings a new level of stability and trust to the platform. With its robust regulatory compliance, broad blockchain support, and seamless integration into the Stabull DEX, EURS is poised to become a key player in the world of stablecoins. Whether you are an Ethereum or Polygon holder, the ability to easily swap EURS with other stablecoins opens up new avenues for trading and earning opportunities in the decentralized finance space.

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