EURA

What is the Angle Protocol?

Angle is a decentralized, capital-efficient, and over-collateralized stablecoin protocol comprising smart contracts operating on open blockchains. Designed to issue stablecoins known as agTokens, the protocol ensures these stablecoins maintain the value of the assets to which they are pegged. The ecosystem consists of various modules, including a Borrowing module for collateralized stablecoin loans and a Transmuter for price stability, along with Direct Deposit Modules enhancing liquidity across protocols. Angle generates yields from these modules, part of which is distributed to stablecoin holders through savings products, enabling them to earn native yields on their assets.

agEUR

AgEUR stands as the first and only stablecoin within the Angle Protocol, serving as a digital representation pegged to the Euro (€). Positioned as a key component of the decentralized stablecoin ecosystem, agEUR provides users with a reliable and transparent means to stake their stablecoins and earn a native Euro yield, reinforcing its stability through collateralized assets. Operating on Ethereum, agEUR is backed by a robust infrastructure, including the innovative Transmuter module, which dynamically manages its underlying stablecoin basket to ensure proper diversification and resilience, particularly during market anomalies.

Deployed on Ethereum, Transmuter acts as a dynamic basket of stablecoins used to mint agEUR. It autonomously manages exposures, ensuring agEUR's backing is diversified. It improves upon the limitations of similar systems, providing resilience, especially during market anomalies.

Main Offerings of Angle

Borrowing Module

Deployed on multiple EVM-compatible networks beyond Ethereum, the Borrowing module enables users to deposit collateral and borrow agTokens against it. It offers leverage on various assets through agToken loans, maintaining exposure to volatile assets or yield-bearing tokens while accessing stablecoins. The Borrowing module employs a vault system, allowing users to deposit collateral, borrow agTokens, leverage exposure, and perform various actions in a capital-efficient manner.

Savings System

Angle's savings system allows stablecoin holders to earn native yields without additional composability risk, fostering transparency between owning an Angle stablecoin and its staked version.

Other Aspects

Beyond key components, Angle features a bridge infrastructure facilitating cross-chain liquidity for stablecoins and supports flash loans natively.

Governance

Decentralized governance is achieved through a DAO represented by veANGLE holders who can propose and implement changes to the Angle Protocol. The DAO oversees Angle Protocol, responsible for tuning parameters, deploying stablecoins, managing treasury, and making protocol-related decisions.

Risks

Despite the meticulous efforts of the Angle Protocol contributors to prioritize security, it is crucial to recognize the inherent risks associated with engaging in decentralized finance (DeFi) and utilizing Angle stablecoins. One significant risk lies in the smart contracts themselves; while built to be robust, there remains a possibility of undiscovered vulnerabilities or unforeseen errors that could potentially compromise the funds within the protocol.

Operating across multiple blockchains introduces blockchain risk, where vulnerabilities or exploits on any of the underlying chains may impact the overall security of the protocol. The reliance on oracles, including Chainlink, Redstone, and Pyth, exposes Angle to potential deflated asset values, leading to under-collateralization. Collateral risk arises from the dependence on specific assets within the reserves, where the failure or drastic devaluation of these assets may leave the protocol inadequately collateralized. Furthermore, counterparty risk is present, especially with assets controlled by centralized entities.

ANGLE Token

The ANGLE governance token plays a pivotal role, supporting decentralized governance without planned inflation. ANGLE's total initial supply is 1 billion with no planned token inflation. Liquidity mining distributes tokens through whitelisted contracts, supporting agTokens holders providing liquidity.

The ANGLE token distribution is structured for multi-year sustainability, with governance adjusting emissions through weekly votes, and 20% controlled by the DAO Treasury.

Angle Team Background and Partners

The Angle Labs Contributors consist of a diverse team comprising engineers, developers, blockchain experts, and creative individuals who specialize in researching and developing financial applications on blockchain technology.

Angle is backed by the best, namely a16z, Fabric Ventures, Alven, Wintermute, Divergence, GFC... Apps and services integrated with Angle include Aave, Uniswap, SushiSwap, LayerZero, Curve, Liquidity,... Angle partners with Unblock, Mt Pelerin, DeFi Llama, Immunefi, Sigma Prime, and ChainSecurity.

Project Development

Angle is thrilled to introduce stEUR on Ethereum, a Euro Savings solution powered by the Real-World Assets in the reserves behind agEUR. Offering an initial yield of 4%, paid in agEUR, the yield will be regularly updated based on contract utilization. stEUR leverages the substantial revenue generated by Angle from agEUR borrowers and reserves, including bC3M, a tokenized representation of an ETF with a 3.6% yield.

The protocol aims to automatically distribute a portion of its earnings to agEUR holders, setting the yield to allocate 90% of estimated earnings through the Borrowing module and yield-bearing collateral assets. The yield formula adapts weekly, positioning stEUR as a resilient on-chain Euro risk-free rate source. stEUR boasts no upfront fees, providing instant earnings with no lockup. The contract, audited by Code4rena, entails minimal risks, ensuring transparency and accessibility for users seeking a Euro savings solution through staking agEUR.

EURA Price Analysis

As of November 24 2024 EURA has a marketcap of $21M. This is {{percentagefromath}} from its all time high of $1.20. In terms of its tokenomics, there's a total supply of 20M with 100% currently outstanding. Keep in mind EURA has a fully diluted value of $21M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.