agEUR (Ethereum)

agEUR

Angle Euro is a fully collateralized and credit-based stablecoin.

Risk Rating
Best
$1.09
0.42%
Summary
What we like
agEUR is a collateralized stablecoin with innovative design mechanisms to ensure its backing is properly diversified and mitigates risk during black swan events.
What we like less
agEUR could become undercollateralized in highly volatile markets if there is not enough liquidity across chains to properly incentivize liquidators. The backing for agEUR also consists of assets with centralized custodians like EUROC and Backed assets.
What it means for you
Offers you a way to diversify your crypto holdings to one of the largest fiat currencies, and also an easy way to put EUR to work for you in DeFi.
Information
Blockchain
  • Ethereum
Key Metrics
  • Market Cap: $21.3M
  • Fully Diluted Valluation: $21.3M
  • FDV / MC: 1
  • Ranking inside Exponential (among stables): #27
  • Circulating Supply: 19,596,328
  • Total Supply: 19,596,328
  • Volume (24H): $1.2M
  • ATH: $1.20 (02/07/2022)
  • ATL: $0.64 (03/15/2023)
Risk Assessment
Best
Asset Strength

agEUR is a low-cap, fully collateralized asset. This asset is exposed to the underlying risks of Angle, a protocol rated as Average.

agEUR is a stablecoin that trades within 50bps of its peg to EUR, which makes it a less volatile store of value.

Asset Tokenomics

agEUR has a fixed supply. agEUR is a credit-based stablecoin, meaning it is always overcollateralized.

Asset Volatility

agEUR is a stablecoin that trades within 50bps of its peg to EUR, which makes it a less volatile store of value.

Dependencies

Angle

Things to know about agEUR

How does agEUR work?

agEUR can be minted by depositing whitelisted collateral assets like EUROC or bC3M (Backed asset) into the Angle peg stability module (Transmuter). Alternatively, users can deposit collateral assets into the Angle Borrowing module to mint agEUR. This module is based on a similar debt mechanism to that of Maker's overcollateralized DAI stablecoin. Users deposit tokens as collateral into Angle to mint (borrow) agEUR. The Borrowing module is designed to enable users to lever up on most digital assets through an agEUR loan, or to let users gain access to stablecoins while retaining their exposure to more volatile assets.

Why trade agEUR?

agEUR provides users with an alternative fiat currency that is pegged to 1 EUR. Angle has also integrated agEUR with several partners so that it can be used to pay and create invoices, as well as make fiat transfers to a user's bank account. agEUR can also be held as a treasury asset for a DAO or company seeking to diversify their crypto holdings. Users can further earn yield on their agEUR by putting it to work across DeFi or simply staking in the savings contract for stEUR, which accrues yield from protocol revenues.

How secure is agEUR?

Angle leverages the Transmuter to maintain price stability during volatile market events. The Transmuter is a price stability module that consists of a basket of various stablecoins that can be used to mint agEUR. The Transmuter supports three main user actions: mint, burn, and redeem. This means agEUR can be minted at oracle value from any of the supported assets, burned at oracle value for any assets in the backing, or redeemed at any time against a proportional amount of each asset in the backing. The last function provides a way for agEUR holders to always exit the stablecoin at any time, even during black swan events. Transmuter uses a dynamic fee model and internal circuit breakers to autonomously control its exposures to its reserve assets and ensure that agEUR's backing is properly diversified. These autonomous mechanisms help to ensure the system is never over-exposed to the weakest asset in its reserves.

agEUR Pools
Angle EUR Fee Sharing
3.4%
Yield
$5M
TVL
Risk
A
Protocol
Angle
Chain
Ethereum
Convex EUR Market Making
9.8%
Yield
$2M
TVL
Risk
B
Protocol
Convex
Chain
Ethereum
Convex EUR Market Making
9.4%
Yield
$2M
TVL
Risk
C
Protocol
Convex
Chain
Ethereum