PANews, March 4: The Angle Protocol community has approved Proposal AIP-112, agreeing to orderly sunset the EURA and USDA stablecoins over a one-year transition period. Users can redeem EURA and USDA across all chains for EURC and USDC at a 1:1 rate via the Angle App until March 1, 2027, and close their VaultManager positions to reclaim collateral. After the transition period ends, the protocol will cease operations, and EURA and USDA may depeg; remaining reserves will be recovered by a multisig and distributed proportionally via Merkl as an airdrop to unredemed holders on Ethereum, who will then have an additional one-year window to claim their tokens.
Angle Protocol Announces Phased Shutdown of EURA and USDA Stablecoins
PANewsShare
Summary
Angle Protocol has approved protocol update AIP-112 to gradually phase out the EURA and USDA stablecoins over a one-year period. Users can transfer tokens from multiple blockchains to Ethereum via the Angle App before March 1, 2027, to redeem them at a 1:1 ratio for EURC and USDC. VaultManager positions can be closed to reclaim collateral. After the transition, EURA and USDA may no longer maintain their peg. Remaining reserves will be collected via multisig and distributed via Merkl as an airdrop to holders of unredeemed tokens on Ethereum, with a one-year claim period.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.