Usual EURPrice

(EUR0)

Usual EUR, known by its token symbol EUR0, is a euro-pegged stablecoin that operates within the Usual Protocol ecosystem. It is designed to function as a settlement asset denominated in euros, suitable for use within decentralized finance (DeFi) applications. The core principle behind EUR0 is its collateralization by European bonds. Specifically, each EUR0 token in circulation is backed by one euro's worth of euTBL. The euTBL represents short-term Euro Money Market Funds that are invested in euro area Treasury Bills, originating from countries such as France and Germany, with maturities typically under six months. This collateral management is handled by Spiko, a supervised entity, which provides daily Net Asset Value (NAV) updates published on-chain through a Chainlink oracle and is subject to audits by PwC. The Usual Protocol, which encompasses EUR0, aims to be a multi-chain infrastructure that converts tokenized Real-World Assets (RWAs) into stablecoins. Its broader mission is to redistribute power and ownership to its community participants, contrasting with the more centralized models of traditional stablecoin issuers. Users can acquire or release EUR0 through two primary mechanisms. A permissionless method allows for minting and redeeming EUR0 via EURC, another stablecoin, at a one-to-one ratio, facilitated by a "Swapper Engine" as long as sufficient liquidity is available. Additionally, there is a permissioned method for direct minting and redemption using euTBL, also at a one-to-one ratio. This direct interaction with Spiko's contracts for euTBL requires users to be allowlisted and to complete Know Your Customer (KYC) or Know Your Business (KYB) verification for institutional use. EUR0 is also available on secondary markets, and the Usual Protocol intends to foster liquidity by incentivizing exchanges with other assets within its ecosystem, such as USD0, to support foreign exchange functionalities. The project highlights its commitment to security, transparency, and a decentralized approach, aiming to bridge the gap between traditional financial systems and the decentralized finance space. The Usual Protocol seeks to address common issues found in existing stablecoin offerings, including centralized revenue control, limited access, and a lack of transparency. The overarching governance of the Usual Protocol is managed by the USUAL token, which is linked to the protocol's revenue model and designed to share value with its community. Learn more

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