Plenty DeFi Adds agEUR Stablecoin To Plenty Bridge
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agEUR is an over-collateralized stablecoin pegged to the Euro. agEUR was launched in November 2021 on Angle Protocol, an over-collateralized, decentralized, and capital-efficient stablecoin protocol deployed on Ethereum.
Angle Protocol partnered with Plenty DeFi to enable users to bridge agEUR to Tezos with Plenty Bridge.
WIth Plenty Bridge, users can transfer their tokens from Ethereum to Tezos within five minutes.
Previously only USDC, DAI, USDT, BUSD, WBTC, WETH, LINK, and MATIC were available through Plenty Bridge, but now agEUR is added to the list.
After the transfer, agEUR tokens are deployed on Tezos as agEUR.e tokens.
To increase liquidity and improve the stability of the Euro value of agEUR.e, Plenty DeFi launched an agEUR.e – EURL farm where users can earn while providing liquidity.
EURL is the first Euro stablecoin on Tezos, deployed by Lugh in the beginning of 2021.
Providing liquidity for same-value stablecoins is a more conservative strategy than providing liquidity for tokens with values that can fluctuate more because the risk for impermanent loss is lower.
“While Angle was mostly thought for EVM compatible blockchains, its scope and target should go far beyond.
Tezos, as one of the most actively used blockchains focused on security, scalability, and most of all energy efficiency, has rapidly been seen as an ideal place to make agEUR available.
Now that it’s live, we’re one step closer to making the idea of a truly decentralized and composable financial infrastructure a reality.”
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Read our full disclaimer here.
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