Angle Protocol has decided to phase out its own stablecoins, EURA and USDA.
Holders of the stablecoins can redeem EURA for EURC and USDA for USDC at a 1:1 rate on Ethereum through the Angle app until March 1, 2027. Vault manager users can close their positions and recover collateral.
After the redemption period ends, the remaining reserves will be retrieved and distributed on Ethereum by airdrop to unredeemed holders in proportion to their holdings. The airdrop claim period is 1 year, allowing holders to recover their funds within a total of 2 years.
The Angle team is currently focusing on developing the DeFi incentives platform Merkl.
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Chi-gyu Hwang
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