I want to request comments on proposed implementation of EUROC (EURO stable coin) as soon as possible. I believe the crypto market changed significantly and liquidity providers (and perhaps also AO’s from Europe) would like to minimize their FX-risk.
Attract more Liquidity providers: In current crypto landscape, liquidity providers are risk-averse and seek investment opportunities alike. By eliminating the FX-risk for EU-based liquidity providers, this may open up possibilities to attract more liquidity to the Tinlake Pools.
Attract more AO’s: Same reasoning as for the liquidity providers. If Centrifuge takes the ‘first mover advantage’ it may attract the interest of EU-based AO’s and hence opens up possibilities for increasing the protocol’s TVL.
The proposal is to:
Ask the Centrifuge developers team to actively investigate opportunities to implement EUROC as soon as possible in Tinlake Pools (and/or RWAmarket.io).
Thank you for your proposal - and for following the correct procedure for creating one
I support your idea and also believe it would be a great addition to have a EURO stable coin as a way to invest in pools.
Personally, I also think that there are other areas where the team should put their focus right now, such as:
Getting the pools up and running on Altair first to test the functionality
Afterwards launch the pools Centrifuge
Optimizing the POP process for onboarding new issuers
All of the above are crucial prerequisites for an implementation of a EURO stable coin. Given that there is not unlimited manpower, I am personally of the opinion that the focus should be on the aforementioned areas to ensure a strong foundation for the protocol in the future.
Once things have run smoothly for a while, I believe it would be a good idea to look into other possibilities to increase TVL and attract more investors - and I will support a proposal for an implementation of a EURO stable coin.
I in principle support the idea to use the EUROC stable coin - as an equivalent to the USDC stable coin - for investors from the Euro zone.
Although I don’t like the concept that each EURO is held “in euro-denominated banking accounts” as stated on their website because this is a centralized solution where banks are in custody of the underlying assets. Any more information where exactly these bank accounts are located?
Hopefully fully decentralized stable coins will emerge soon
