Decentralized
Euro.

From a bird's eye perspective, the dEURO system resembles a bank that creates money against collateral. In the traditional banking system, this can for example be done with real estate. The bank accepts a house as collateral, and prints the agreed amount of money by adding it to that persons bank account. Then the buyer of the house can transfer the money to the seller, where it ends up as a deposit with maybe the same or another bank, thereby closing the circle. When doing so, banks need to observe some reserve and other legal requirements to ensure the mortgage is well-secured. The dEURO system essentially enables users to do the same, printing some money against a (hopefully) valuable collateral. Also, like a bank, the dEURO system has a reserve pool that resembles the equity capital of a bank and serves as a buffer to absorb risks. However, in contrast to a bank, there is nothing that qualifies as credit as the users print their money themselves, processes are largely automated and fully transparent, and there is no explicit governance besides a veto mechanism that is open for everyone with enough protocol shares.

If used with the necessary care, most definitely. Most of the usefulness of the dEURO comes from its decentralized nature. It is open, fully transparent, and freely interactible by humans and software alike. Thanks to its transparency, anyone can analyze its solvency at any moment. If it is in imbalance, it can be expected to be attacked by speculators who know exactly at which market prices the dEURO is not fully backed any more. The goal is not to imitate traditional banking, the goal is to create something immanently better.

The primary objective of dEURO is to establish a decentralized financial system that enables individuals to generate currency backed by collateral, akin to traditional banking practices. This initiative is driven by a commitment to transparency, decentralization, and inclusivity, aiming to empower users with the ability to mint their own Euros. By decentralizing the process of money creation, dEURO seeks to foster economic resilience and provide an alternative to conventional centralized financial frameworks.

dEURO sets itself apart from other stablecoins by employing an auction-based system for collateral determination, eliminating the need for external oracles. This approach prevents price manipulation by switching collateral assets during auctions, ensuring system integrity without relying on third-party sources. Additionally, its emphasis on collateral availability enables ongoing challengeability, while autonomous operation reduces owner intervention. Equity holders bear losses in case of insufficient auction proceeds, ensuring robust risk management within the system.

nDEPS tokens represent ownership in the equity reserve pool of the dEURO system, functioning like shares in a bank. They enable holders to earn profits from system fees, participate in governance through voting rights, and provide liquidity by minting and redeeming tokens. nDEPS tokens play a crucial role in maintaining stability, governance, and value creation within the dEURO ecosystem.

The Native Decentralized Euro Protocol Shares (nDEPS) represent a share in the equity capital of the system. The DEPS holders get the profits (earned interests and fees) from the system, but are also covering the residual liquidation risk. Furthermore, nDEPS token holders accumulate voting power over time. Any nDEPS holder that has 2% of the votes - alone or together with others - can veto proposals.

dEURO offers a stablecoin pegged to the Euro, preserving purchasing power and providing an alternative to existing stablecoin models. Additionally, it allows users to leverage assets like BTC and ETH to mine new dEURO or invest in the future of the project through nDEPS tokens.

Option 1.


Step 1: It’s possible to use the following website: https://app.dfx.swiss/buy
Step 2: Connect to Metamask or another wallet of your choice
Step 3: Choose nDEPS on ETH
Step 4: Pay via bank wire or credit card with Apple and Google Pay





Option 2.
Via Uniswap (dEURO or nDEPS)


nDEPS are not locked. nDEPS can be transferred at any time. nDEPS can also be sold at any time. nDEPS can be exchanged for DEPS and sold via uniswap. All this is possible and there is no lock. If you want to destroy nDEPS with the SmartContract, these nDEPS must be at least 3 months old. However, this is not a sale but a destruction of the nDEPS. After that, these nDEPS no longer exist and the quantity in circulation of all nDEPS has decreased.

No, it neither qualifies formally nor functionally as a security. It does not qualify formally as a security under European Law as it does not represent a claim towards an issuer. Also, it does not qualify functionally as a security as it does not serve a financing purpose.

Yes, to some extent it is. The dEURO addresses issues within the current system of money creation, highlighting how it distorts capital allocation. For example, regulatory constraints may incentivize investments that aren't optimal for society. Traditional capital requirements tend to favor certain sectors like real estate and government bonds over others. By leveraging blockchain technology, dEURO offers an alternative outside the traditional financial system. It seeks to empower individuals by allowing them to create their own money, potentially leading to a stronger economy and more growth if used responsibly.