[TEMP CHECK] Enable Isolation for EURe on Gnosis

Authors: DAOplomats.eth (@Baer_DAOplomats, @jengajojo)

Draft Date: 2024-01-27.
Published date: 2024-03-27

Summary:

DAOplomats are seeking community support to enable isolated borrowing for EURe, a Euro-backed stablecoin from Monerium on Gnosis V3.

Motivation.

The gnosis market supports EURe - Monerium Emoney, but the asset cannot be used as collateral.

EURe usage has significantly increased over the past few months due to its recent integrations within the Gnosis ecosystem and Request Network. Even though EURe is the ideal asset to borrow due to its E-money status, the relative lack of usage of EURe can be explained by the inability to use it as collateral and the Gated Monerium ecosystem.

However, considering the relative number of EURe holders and the TVL on the gnosis V3 market, the community should have an open discussion to enable it as collateral.

Source: Dune.com/arni

Since January 2024, EURe has had a total volume of over € 232,493,601, capturing more than 52% of the total on-chain Euro stable coin volume.

Stats Dashboard

  1. EUR fiat stables 2024 volume
  2. Gnosis Pay onchain stats: https://dune.com/steakhouse/gnosis-pay
  3. https://dune.com/dcooper/eure

Latest stats:

Q1 2024 Volume: 242,930,422 EUR

Total Volume till 15.03.24: 877,565,358 EUR

Total Outstanding EURe: 11,290,618 EUR

Total Collateral backing is 102%.

Specification

Ticker: EURe

Token Contract on Gnosis: 0xcb444e90d8198415266c6a2724b7900fb12fc56e

Token Contract Polygon: 0x18ec0A6E18E5bc3784fDd3a3634b31245ab704F6

Oracle: 0xab70BCB260073d036d1660201e9d5405F5829b7a

Disclaimer

DAOplomats are not/will not be compensated for this proposal, and the Monerium team isn’t involved.

Next Steps

  1. If consensus is reached on this temp check, escalate this proposal to the ARFC stage.

Copyright

Copyright and related rights waived via CC0.

Edits:
28.03.24 - The proposal was initially designed to include an asset listing on Polygon. However, this aspect has now been separated into a distinct proposal. Substantial modifications have been made to align with the proposal’s title.

3 Likes

Hello DAOplomats.eth.
This proposal contains two proposals, and each one needs to be evaluated separately. It is recommended to split them and resubmit separately.

Hey @0xlide, thanks for the feedback; I have updated the proposal, limited it to isolation on Gnosis, and made one for a new asset listing on the polygon.

1 Like