Question 1

What is EURA (EURA)?

Accepted Answer

EURA, formerly known as agEUR, is a decentralised, euro-pegged stablecoin developed by Angle Protocol. It is designed to maintain a 1:1 peg with the euro through a combination of crypto and real-world asset (RWA) collateral. EURA can be minted and redeemed primarily through the Transmuter, a price-stability module that manages a diversified collateral basket, and also via the protocol’s Borrowing module, which enables the creation of EURA as debt backed by user deposits.

The rebrand from agEUR to EURA took place in March 2024 to simplify adoption and strengthen its positioning as a decentralised Euro stablecoin. Angle Protocol governance is handled by the Angle DAO, with ANGLE as its governance token. To ensure security and robustness, the EURA codebase has been audited by ChainSecurity, Sigma Prime, and Code4rena.

EURA is deployed across multiple blockchains including Ethereum, Arbitrum, Polygon, Optimism, Base, Avalanche, BNB Chain, Linea, and Celo, making it widely accessible across DeFi ecosystems.

Question 2

What is EURA (EURA) used for?

Accepted Answer

- **On-chain euro payments and settlement**: A euro-denominated unit of account for payments, treasuries, and exchange pairs  
- **DeFi euro exposure**: Mint and burn directly at oracle value with adaptive fees; redeemable against collateral reserves through the Transmuter  
- **Savings in euro**: Stake EURA into stEUR via Angle Savings to earn protocol-driven euro-denominated yield  
- **Borrowing and leverage**: Open collateralised vaults to borrow EURA, enabling leveraged positions or liquidity without selling assets  
- **Cross-chain utility**: Available across multiple blockchains, allowing for composability in lending, liquidity provisioning, and on-chain settlements.

Question 3

How does EURA keep the €1 peg?

Accepted Answer

The peg is maintained through the Transmuter and complementary mechanisms:

- **Mint/Burn at oracle price**: Users can mint or burn EURA at a value pegged to €1, with adaptive fees and circuit breakers to limit volatility  
- **Collateral basket management**: The Transmuter adjusts collateral exposures automatically, maintaining resilience through diversification  
- **Redemptions**: EURA is redeemable against underlying reserves at all times, with proportional redemptions and penalty structures designed to discourage bank-run dynamics  
- **Borrowing module interaction**: Users can mint EURA as debt, and repayment mechanics combined with liquidations ensure peg robustness  
- **Market incentives**: Arbitrage opportunities and protocol-managed fees support secondary market stability.

Question 4

Who created EURA (EURA)?

Accepted Answer

EURA is developed by Angle Labs, Inc. and governed by the Angle DAO. The project was launched in 2021 by Pablo Veyrat, Guillaume Nervo, and the pseudonymous Picodes. It was backed by a seed round led by a16z, providing early funding to build Angle Protocol as a decentralised stablecoin infrastructure.