What is EURC?
EURC is a mirror representation of the Euro on the Stellar network. Using the Stellar DEX, we keep EURC pegged to the same value as the current market rates of real world EUR & USD.
Users of EURC can redeem their tokens for USDC anytime through the Stellar DEX. USDC used to purchase EURC are placed back into buy orders of EURC or the EURC AMMs, meaning there are always enough USDC reserves to repurchase EURC. A minimum spread of 1.25% is set by the issuing wallet on buy & sell offers, with offers updated regularly to reflect other market prices.
We mainly support the EURC/USDC market to ensure users can always sell EURC back to USDC, which ensures that EURC stays stable and redeemable through the SDEX at all times.
Supply
We ensure to always keep the EURC buyback ability above the circulating EURC. You can check for yourself by seeing how much USDC our issuing wallet holds.
Issuing wallet - GAP2......EURC
We also collect AQUA when we participate in AQUA rewards. AQUA is used to vote for further AQUA rewards for EURC markets, or can be partially sold to ensure USDC reserves allow us to keep our buyback ability above the circulating EURC. When USDC reserves are in surplus, we sometimes buy AQUA tokens to increase votes for EURC pairs, meaning users can also earn AQUA rewards when taking part in liquidity pools or market making.
To find out the current circulating EURC supply, click here. Once on stellar.expert look for the figure next to 'Total supply'.