EUR0 is a euro-pegged stablecoin designed for secure and seamless use across the DeFi ecosystem. It is fully backed by EU issued T-Bills, offering enhanced security without reliance on traditional banks. The coin is permissionless and easily integrable, with real-time reserve transparency provided by fund administrators. EUR0 consolidates liquidity from diverse sources and utilizes an innovative mint engine for efficient collateralization, ensuring peg stability and compliance with EU regulations, making it a reliable alternative to other EURO pegged stablecoins.
How to Mint EUR0
EUR0 tokens can be minted through Usual's counter in two ways:
Direct Mint: By depositing an eligible RWA (e.g. Spiko euTBL) into the protocol to receive an equivalent amount of EUR0 on a 1:1 basis.
Indirect Mint: By depositing EURC into the protocol to receive EUR0 on a 1:1 basis. In this method, a third party known as the Collateral Provider (CP) supplies the necessary RWA collateral, enabling users to obtain EUR0 without directly holding RWAs.
How to Redeem EUR0
Withdrawal of Underlying Assets: Users can withdraw the Real World Asset (RWA) underlying the EUR0 token directly with Usual's dApp
Secondary Market Transactions: Users can sell EUR0 for EURC (or any other token) on the secondary market. As EUR0 is fully redeemable within Usual's dApp the 1:1 peg is expected to be maintained through arbitrage, similar to other fiat-backed stablecoin.
