EUR-Based Stablecoin Protocol – Over-Collateralized Minting Procedure Launched
Mar 4, 2022
Angle Labs has launched their new DeFi Euro-pegged stablecoin protocol, designed to provide a consistent, over-collateralized store of value for use in trading and converting crypto tokens.
Tortola, Virgin Islands, British - March 3, 2022 /NewsNetwork/ —
The new protocol is designed to give crypto traders freedom of conversion between collateral and stablecoin tokens of all kinds without dropping value for gas fees or related costs. The stablecoin protocol is versatile and adaptable, with plenty of room for future development.
To learn more, visit https://www.angle.money
This new system promises to broaden the market for Euro-based transactions, signaling a movement away from stablecoins pegged exclusively to the value of USD. Angle Labs is also seeking to solve problems of liquidity and capital efficiency by creating a protocol with highly convertible assets, rather than network-exclusive alternatives.
As blockchain technology has continued to evolve, many problems have arisen as competing networks and protocols battle for supremacy, sometimes even splintering into yet more networks and making the problem worse. Liquidity is one of the main issues caused by this, as conversion between tokens on different networks can cause a variety of inconsistencies in terms of value and fees.
Angle seeks to solve many of the problems caused by a lack of liquidity, especially in the context of cryptocurrency loans. Stablecoins can be particularly helpful in the loan-based financial sphere, as they provide a consistent value rather than the constantly fluctuating conversion rates of BTC, ETH, or others.
In particular, Angle’s protocol offers a built-in overcollateralization which can act as a buffer in times of value fluctuations. In networks that do not host stablecoins, this is historically a problem as the initial value of the loan fluctuates above or below the amount to be repaid, but here Angle uses it to intentionally bolster the stablecoins created on-chain.
The protocol has already been used to mint agEUR, which has functioned as designed so far and offers unprecedented stability. More projects and tokens are currently in the works, including stablecoin value stores for CHF, JPY, GPB, and more.
The team at Angle Labs is comprised of experienced and knowledgeable crypto developers and investment experts who have proven to be consistently tuned-in to the crypto space. Their projects foster helpful and positive online communities, which is rare to see in the DeFi industry.
To learn more, visit https://www.angle.money
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Contact Info:
Name: Pablo Veyrat
Email: Send Email
Organization: Angle Labs, Inc
Address: Trinity Chambers, PO Box 4301 Road Town,, Tortola, British Virgin Islands VG1110, Virgin Islands, British
Phone: +33-6-01-94-00-69
Website: https://www.angle.money/
Source: NewsNetwork
Release ID: 89066529
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