What is dEURO?

And why it is the only Euro stablecoin that does not require an oracle.
Get some dEURO
EUR Stablecoin
No Oracles
Fully decentralized
dEURO System Explained
Discover the possibilities of the protocol for yourself, either as a saver, user or investor.
Mint
Sell
1. Mint.
Anyone can deposit a suitable collateral and mint dEUROs. These dEUROs have to be returned before you can get your collateral back.
2. Fees.
When minting dEUROs, a fee is paid to the equity reserve pool.
Sell
Spend
3. Sell.
The minter sells the dEUROs for 1 EUR each in the market.
Spend
Save
4. Buy.
Someone else buys some dEUROs from Uniswap or other market places.
5. Pay.
dEUROs can be used to make Euro  payments in DeFi or elsewhere.
6. Sell.
Recipients can sell sell their dEUROs again on the market.
Save
Invest
7. Buy.
Someone who is interested in saving Euro might buy some Eurocoins.
8. Save.
And then commit to lock them up in the system for a chosen period of time.
9. Interest.
In return, the saver gets an interest that is paid out of the equity reserve pool.
Invest
Mint
10. Buy DEPS.
Other might want to buy in order to speculate on the success of the whole system.
11. Add capital.
When adding capital to the equity reserve pool, you get freshly printed Decentralized Euro Protocol Shares (DEPS) in return. The amount of DEPS is calculated using a bonding curve with the invariant "Market Cap = DEPS Supply * DEPS Price = 3 * Equity Reserve Pool", minus a 2% issuance fee, which benefits DEPS holders.
12. DEPS appreciation or depriciation.
After a minimum holding duration of three months, the DEPS can be returned to the system at the current price, minus 0.3% redemption fee.
Mint
Sell
Spend
Save
Invest
1. Mint.
Anyone can deposit a suitable collateral and mint dEUROs. These dEUROs have to be returned before you can get your collateral back.
2. Fees.
When minting dEUROs, a fee is paid to the equity reserve pool.
3. Sell.
The minter sells the dEUROs for 1 EUR each in the market.
4. Buy.
Someone else buys some dEUROs from Uniswap or other market places.
5. Pay.
dEUROs can be used to make Euro payments in DeFi or elsewhere.
6. Sell.
Recipients can sell sell their dEUROs again on the market.
7. Buy.
Someone who is interested in saving Euro might buy some dEUROs.
8. Save.
And then commit to lock them up in the system for a chosen period of time.
9. Interest.
In return, the saver gets an interest that is paid out of the equity reserve pool.
10. Buy DEPS.
Other might want to buy in order to speculate on the success of the whole system.
11. Add capital.
When adding capital to the equity reserve pool, you get freshly printed Decentralized Euro Protocol Shares (DEPS) in return. The amount of DEPS is calculated using a bonding curve with the invariant "Market Cap = DEPS Supply * DEPS Price = 3 * Equity Reserve Pool", minus a 2% issuance fee, which benefits DEPS holders.
12. DEPS appreciation or depriciation.
After a minimum holding duration of three months, the DEPS can be returned to the system at the current price, minus 0.3% redemption fee.
dEURO vs. other Stablecoins.
Particularly fiat-backed stablecoins, offer stability through regulatory oversight and bank reserves, but often sacrifice flexibility, transparency and user control. dEURO's fully decentralized model offers a clear advantage for crypto-native users seeking true financial sovereignty, get an overview:
Stablecoin
Level of
Centralization
Savings (APR)
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
dEURO
decentralized Euro
Fully decentralized
on-chain
10%
EURS
Stasis Euro
Fully
centralized
EURC
Circle Euro
Fully
centralized
EURR
StablR Euro
Fully
centralized
USDT
Tether USD
Fully
centralized
2%
USDC
Circle USD
Fully
centralized
2%
dEURO
decentralized Euro
Level of
Centralization
Fully decentralized
on-chain
Savings (APR)
10%
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
EURS
Stasis Euro
Level of
Centralization
Fully centralized
Savings (APR)
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
EURC
Circle Euro
Level of
Centralization
Fully centralized
Savings (APR)
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
EURR
StablR Euro
Level of
Centralization
Fully centralized
Savings (APR)
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
USDT
Tether USD
Level of
Centralization
Fully centralized
Savings (APR)
2%
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
USDC
Circle USD
Level of
Centralization
Fully centralized
Savings (APR)
2%
Crypto as
Collateral
Transparency
On-chain
Regulatory
Clarity
dEURO?
The goal is to establish a stablecoin that addresses the challenges faced by current stablecoins. These challenges include dependence on centralized oracles, reliance on centralized third parties, and limited collateral options for minting stablecoins.
History of the
Stablecoins
Stablecoins are desperately needed, as seen by the developing digital financial scene, which has a total market capitalization of over over 140 billion EUR. They are essential to the cryptocurrency industry because they can store value during times of extreme volatility, make it easier for capital to move between exchanges, and allow for quick, inexpensive cross-border transactions. This is especially helpful in nations with high rates of inflation, as stablecoins can provide a reliable and easily available alternative to fiat money. Above all, they make possible a number of the most exciting DeFi applications.

Stablecoins as they exist today have drawbacks despite their apparent advantages. The two most often used ones, USDT (Tether) and USCD, rely on a single issuer. There are issues with openness and confidence arising from this. For instance, a group of businesses that own USDC has the authority to freeze money and add addresses to a blacklist. Furthermore, contrary to popular belief, the DAI, the most well-known decentralized stablecoin, is not very decentralized. It depends on oracles that might be influenced by players outside the system.
The issue with Oracles
Oracle Manipulation Attacks are a type of attack in which an adversary exploits the data feeds (oracles) that smart contracts rely on to make decisions. By manipulating the data provided by oracles, attackers can trick smart contracts into executing transactions based on false information, often resulting in the theft of cryptocurrencies.
An example? With pleasure:
In April 2022 the Beanstalk Farms, a decentralized finance (DeFi) protocol built on Ethereum that issues its own stablecoin using a credit-based system rather than collateral, 182 million dollars were stolen through a flash loan exploit that manipulated the governance system via oracle pricing.

This is just one of countless cases where funds were stolen through manipulated oracles.
Why dEURO?
dEURO is intended to solve these issues. It is an Ethereum-based decentralized stablecoin that is collateralized and tracks the value of the Euro.

It is distinct in that it functions independently of oracles and may be applied to a wide variety of collateral kinds. Users, not oracles, determine the value of the collateral, and its exclusive auction-based minting method works without the need for outside oracles. As long as the collateral has adequate market availability, this flexibility permits the use of a broad variety of collateral forms.

By removing major weaknesses in the conventional stablecoin concept, dEURO presents a more reliable, adaptable, and democratic stablecoin substitute. Because of its decentralized structure, it can function even in the absence of a conventional legal system since it lacks a central authority. Anyone can mint new coins and take part in the coin's governance thanks to the system's incentives and laws. This approach to stablecoin mechanics is essentially different.

The dEURO mechanism essentially creates money against collateral, just like a typical bank would. Users print their own money. Every process is transparent and automated.