# Proposal: Add Support for STASIS EURO (EURS)
**URL:** https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701
**Category:** New Asset
**Created:** [April 20, 2021, 5:20pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701 "2021-04-20T17:20:58Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@STASISTeam](https://governance.aave.com/u/STASISTeam)
#### Post date: [April 20, 2021, 5:20pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/1 "2021-04-20T17:20:58Z")
**Proposal: Add Support for STASIS EURO (EURS)**
Summary:
The STASIS team would like to submit a proposal to onboard EURS.
Main Links:
- Website - [EURS](https://eurs.stasis.net/)/ [STASIS](https://stasis.net/)
- Source Code - [STASISNET (STASIS) · GitHub](https://github.com/stasisnet)
- STASIS provides 3 verification streams: daily statements, weekly verification from and quarterly audits by BDO Malta. The data is available publicly: [Transparency and reserve verification](https://stasis.net/transparency/)
- Independent Auditor Reports - [STASIS EURO - CertiK Skynet Project Insight](https://www.certik.org/projects/stasis)
- Token contract: [$1.09 | STASIS EURS Token (EURS) Token Tracker | Etherscan](https://etherscan.io/token/0xdb25f211ab05b1c97d595516f45794528a807ad8)
- Chainlink Oracle: [EURS Reserves | Chainlink](https://data.chain.link/eurs-reserves)
- Main socials: [Telegram](https://t.me/stasis_community)/[Twitter](https://twitter.com/stasisnet).
**EURS Background**
EURS is the largest euro-backed digital asset, combining the benefits of the world’s second most-traded currency with the transparency, immutability, and efficiency of the distributed ledger technology. Created by stablecoin crypto-enabler platform STASIS, EURS mirrors the euro’s value on the blockchain and is supported by assurance mechanisms provided via an ecosystem of liquidity providers, custodians, exchanges, payment platforms, and others. Each token is backed 1:1 by euros held in the company’s reserve accounts.
STASIS is a platform focused on transparency with a solid track record and vast expertise in technological, financial, and legal fields (1). Since all EURS are backed with fiat euro, there is no risk for investors and everyday users, who can always exchange their digital assets thanks to the Sellback Service (2).
EURS stablecoin combines experience, trust, technology, and financial infrastructure to enable business growth, narrowing the gap between the European financial and the digital asset markets. This in-house solution utilizes multi-blockchain interoperability to shortcut financial inefficiencies, often present in old-school financial systems. The project has popular global social media accounts and multiple local communities in different countries and a diverse investor base that includes institutions.
Since USD-backed stable coins are heavily dominating the market, Europeans/Asians are often forced into undesired dollar exposure with little on-chain hedging options. EURS stablecoin seeks to challenge the U.S. Dollar’s dominance in global financial markets. By 2021 it has become a popular tool for daily transactions, free of risks and volatility inherent in conventional cryptocurrencies. The potential of stablecoins use cases has been recognized in times of crisis, and the demand for EURS is growing steadily in the DeFi field.
**Community and Communication**
STASIS is active on Telegram, Twitter, Facebook and has established accounts in most popular crypto social media. The project team also operates and regularly updates a YouTube account (4). STASIS and EURS are often mentioned in global press media (5). Gregory Klumov, the founder and CEO of the STASIS EURS project, is the project’s main spokesperson (6), often sharing his view on crypto. The STASIS website includes a mailing address in lsle of Man, and a contact e-mail (7). There is also a phone number provided.
**Benefits for AAVE:**
- A new gateway for European and Asian users into the emerging DeFi world.
- EURS will be the largest non-dollar fiat stablecoin on the AAVE protocol.
- Increased adoption of AAVE by the EURS userbase.
- EURS tokens are backed 1-1 with EURO FIAT, meaning there is no risk for users who operate with it since they can always exchange their assets to EURO thanks to the STASIS Sellback service which has been recently [improved](https://medium.com/stasis-blog/explaining-the-new-milestone-for-stasis-d9d83681998f).
- EURS smart contract has been upgraded by [ABDK](https://abdk.consulting/) — the company behind the [audit](https://github.com/Uniswap/uniswap-v3-core/blob/main/audits/abdk/audit.pdf) of the V3 [Uniswap](https://info.uniswap.org/token/0xdb25f211ab05b1c97d595516f45794528a807ad8) which is the largest DeFi protocol nowadays. This gives the protocol and users a guarantee of confidence in the product.
**Product videos**
_Team’s expertise video_
[ ](https://www.youtube.com/watch?v=NEGr3M2WZE0)
_Project Review_
[ ](https://www.youtube.com/watch?v=wWqRgi6gkPE)
_STASIS Wallet Introduction_
[ ](https://www.youtube.com/watch?v=cJXKH6hG2-Q)
_STASIS Wallet_
[ ](https://www.youtube.com/watch?v=BxViGuzITXM)
**References**
1. [https://stasis.net/government-consulting/](https://stasis.net/government-consulting/)
2. [https://stasis.net/sellback/](https://stasis.net/sellback/accounts/login/?next=/sellback/)
3. [STASIS Wallet: A stablecoin wallet with delegated transfer](https://stasis.net/wallet/)
_4. Social media accounts_
- Blog: [STASIS Blog – Medium](https://medium.com/stasis-blog)
- Twitter: [https://twitter.com/stasisnet](https://twitter.com/stasisnet)
- Telegram: [Telegram: Contact @stasis\_community](https://t.me/stasis_community)
- Facebook: [Stasis](https://www.facebook.com/stasisnet)
- GitHub: [https://github.com/stasisne](https://github.com/stasisnet)[t](https://www.facebook.com/stasisnet)
- Youtube: [STASIS / EURS - YouTube](https://www.youtube.com/channel/UCq7eJ9c8ec2PEQweJg-pcDA)
- Bitcointalk: [📌[Official] STASIS EURS Stable Coin Ⓢ](https://bitcointalk.org/index.php?topic=4789890.40)
1. STASIS/ EURS in PRESS
- [Stablecoin Issuer Promises Full Audits of Euro-Backed Crypto Token](https://www.coindesk.com/stablecoin-issuer-stasis-promises-full-audits-of-euro-backed-crypto-token)
- [Self-Regulatory Advancements To Crypto Market Will Spark Interest From Institutional Investors](https://www.forbes.com/sites/rachelwolfson/2018/08/13/self-regulatory-advancements-to-crypto-market-will-spark-interest-from-institutional-investors/#23fb7c3e752d)
- [Stablecoins: Popularized by Facebook, Pilloried by Regulators](https://www.bloomberg.com/news/articles/2019-11-08/stablecoins-popularized-by-facebook-pilloried-by-regulators)
- [New Wallet From Stablecoin Issuer STASIS Syncs With Financial Institutions](https://www.coindesk.com/new-wallet-from-stablecoin-issuer-stasis-syncs-with-financial-institutions?amp=1&__twitter_impression=true)
- [EURS: The First Crypto Pegged to the Euro](https://www.unlock-bc.com/news/2019-12-06/eurs-the-first-crypto-pegged-to-the-euro)
1. [https://www.linkedin.com/in/gregoryklumov/](https://www.linkedin.com/in/gregoryklumov/)
> **[Gregory Klumov\`s articles on Cointelegraph](https://cointelegraph.com/authors/gregory-klumov)**
>
> Gregory Klumov | Authors | Cointelegraph
1. STSS Limited (lsle of Man) Reg number. 015541V, 2nd Floor, Quay House, South Quay, Douglas, IM1 5AR, lsle of Man; [CO@STASIS.NET](mailto:CO@STASIS.NET); +1 442 888 3881.
_ **Regards,** _
_ **STASIS project team** _
---
### Author:  [@JpSy](https://governance.aave.com/u/JpSy)
#### Post date: [April 22, 2021, 1:03pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/3 "2021-04-22T13:03:05Z")
Nice intro, guys! As an Asian, I will gladly support this asset since EURS is a very transparent stablecoin with a promising future. With so many dollar-backed stablecoins in the market game, there are not many suitable alternatives out there. EURS is the real oasis in the stablecoin field, so let’s support them!
---
### Author:  [@petar](https://governance.aave.com/u/petar)
#### Post date: [April 22, 2021, 2:06pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/4 "2021-04-22T14:06:34Z")
Great proposal! As a fellow European I’d be glad to see this go through. I’ve been following STASIS’s work in the last 6 months and seen consistency in development.
---
### Author:  [@Raccoonov](https://governance.aave.com/u/Raccoonov)
#### Post date: [April 23, 2021, 5:11am UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/6 "2021-04-23T05:11:10Z")
I’ve been following Stasis for over 2 years now, and they seem to be one of the most transparent stablecoins out there, and the rare example of the EUR-pegged stable coin! Definitely a must-add!
---
### Author:  [@DEKing](https://governance.aave.com/u/DEKing)
#### Post date: [April 23, 2021, 7:24am UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/7 "2021-04-23T07:24:33Z")
Being the EURS user for years, I honestly believe that this is an excellent value proposition for the AAVE community. Since EURS is the largest NON-USD stablecoin nowadays, it’s a perfect choice for everyone who relies on the Euro’s strength. Looking forward to the next step!
---
### Author:  [@ottoman](https://governance.aave.com/u/ottoman)
#### Post date: [April 23, 2021, 11:41am UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/8 "2021-04-23T11:41:46Z")
STASIS EURO (EURS), a stablecoin offering by the STASIS platform, combining the benefits of Blockchain technology with the reputation and relative stability of the Euro. Support them.
---
### Author:  [@Gian](https://governance.aave.com/u/Gian)
#### Post date: [April 24, 2021, 10:58am UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/9 "2021-04-24T10:58:24Z")
I live in Europe and I would be really happy if EUR would be added to Aave, I am following Stasis for a few months and I am planning to use the yearn vault to earn some passive yield. I hope aave will add it.
---
### Author:  [@STASISTeam](https://governance.aave.com/u/STASISTeam)
#### Post date: [April 26, 2021, 4:33am UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/10 "2021-04-26T04:33:43Z")
Thanks for your support people!
And we have some great news to share today:
"The Chainlink Network’s Proof of Reserve Data Feeds support DeFi by offering transparency around the collateralization of fiat-backed stablecoins.
Integrate the EURS PoR Feed to verify that STASIS EUROs are fully backed by fiat reserves!"
>
---
### Author:  [@simsim94](https://governance.aave.com/u/simsim94)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/11 "2021-04-27T14:58:00Z")
Hello, DeFi nation! Wanted to jump on this train and express my support to EURS. I use both stablecoin and STASIS Wallet, enjoyed the experience and great support service 24/7. Hope they get more traction this year
---
### Author:  [@C2na2](https://governance.aave.com/u/C2na2)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/12 "2021-04-27T14:58:34Z")
“We really like EURS stablecoin in France, given that Digital Euro by ECB is expected in no less than 5 years. It would be great to see more experiments with EURS on different DeFi protocols.”
---
### Author:  [@maspemulung](https://governance.aave.com/u/maspemulung)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/13 "2021-04-27T14:58:41Z")
Hello AAVE community! I tried many USD and other stablecoins but mostly rely on EURS these days Really appreciate their well-crafted solution, great support service, and easy-2-use app. My point is "yes for EURS’!
---
### Author:  [@dagolubev](https://governance.aave.com/u/dagolubev)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/14 "2021-04-27T14:58:48Z")
EURS is my weapon of choice in the volatile crypto market conditions. I hope that the AAVE community will support the proposal…Thrilled to see this great stablecoin on more DeFi protocols!
---
### Author:  [@turkman](https://governance.aave.com/u/turkman)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/15 "2021-04-27T14:58:50Z")
Being a DeFi user and crypto enthusiast, I’m excited about this proposal. Let’s raise awareness and help the EURS team!
---
### Author:  [@lysycyn](https://governance.aave.com/u/lysycyn)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/16 "2021-04-27T14:58:52Z")
I’m new to DeFi, but a long-time fan of EURS. The Crypto market actually lacks transparent stablecoin projects built by teams with strong expertise in various fields. STASIS is a rare example here and I’m sure their initiative will be successful.
---
### Author:  [@Horlla](https://governance.aave.com/u/Horlla)
#### Post date: [April 27, 2021, 2:58pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/17 "2021-04-27T14:58:53Z")
I do really like EURS stablecoin and STASIS support service being a tech-savvy DeFi user. The last few months indicated a growing steadily demand for this asset in decentralized finance protocols, so I’ll be glad if AAVE community supports it.👌
---
### Author:  [@Tolino](https://governance.aave.com/u/Tolino)
#### Post date: [May 3, 2021, 8:53pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/18 "2021-05-03T20:53:47Z")
Please this is very very necessary and importan dollar dont stop fall
---
### Author:  [@Josef](https://governance.aave.com/u/Josef)
#### Post date: [May 4, 2021, 4:28pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/19 "2021-05-04T16:28:49Z")
Yes please. I said it in another post, I really REALLY welcome non USD stable coins
---
### Author:  [@Michael\_Padilla](https://governance.aave.com/u/Michael_Padilla)
#### Post date: [May 11, 2021, 10:52pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/20 "2021-05-11T22:52:57Z")
Have researched a while. I have no good feeling?
I miss some trustful stuff, licenses, EU regulations, I also don’t like this Malta taxation mechanism and and and, how are the user funds protected.
They have 69m EUR in circulation not that much.
I’m not comfortable with
---
### Author:  [@STASISTeam](https://governance.aave.com/u/STASISTeam)
#### Post date: [May 13, 2021, 3:59pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/21 "2021-05-13T15:59:50Z")
Hey, Michael.
Speaking of trust. We highlighted the transparency statements at the top of this proposal. Not every project in the stablecoin segment is able to provide this:
> **[STASIS Collateralized digital asset community](https://eurs.stage.stasis.net/transparency/)**
>
> Bridging the gap between decentralized finance and the off-chain market
Next, when it comes to regulations, we need to note here that STASIS is exempt from regulation under Maltese laws and the VFA act. STASIS has received 4 legal opinions from Malta, the USA, UK, Germany to confirm this position.
Our company has successfully operated in a self-regulated form for more than three years, being the only big four-audited issuer and providing ultimate transparency of operations.
We have been promoting the E-money 2.0 initiative since the project’s inception. The STASIS team is pushing the new model to come to life, but there is no clear ETA for this milestone. Until a proper regulation is in place, we will continue to exist and operate in a self-regulatory mode.
Finally, the circulation is not that impressive compared to USDC or USDT, but we managed to increase the total supply by 40% in just the last few months. The demand for the EURS among institutionals is growing and we are confident that this trend will continue.
---
### Author:  [@Michael\_Padilla](https://governance.aave.com/u/Michael_Padilla)
#### Post date: [May 13, 2021, 7:01pm UTC](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701/22 "2021-05-13T19:01:28Z")
Hi, thx for the information!
Have read your smart contract, do you have some more information who can execute it, what the functions are for and what are the cases when this or this function will be used.
I mean an overall overview of the hole contract handling.
Thx
[Next page](https://governance.aave.com/t/proposal-add-support-for-stasis-euro-eurs/3701.md?page=2)