TEMP CHECK: Raise the Deposit Limit for EURS stablecoin on Polygon

Proposal: Raise the Deposit Limit for STASIS EURO (EURS) stablecoin on Polygon

Summary:

This new proposal by team STASIS seeks approval from the AAVE community to increase the deposit limit of STASIS Euro (EURS) on the Polygon network to 7 million, which would enable users to engage in more substantial and versatile transactions.

With the growing adoption of EURS and increasing transaction volumes on Polygon (the second popular blockchain network for our stablecoin), expanding the deposit limit will enhance user flexibility and support larger transactions, aligning with industry trends. This suggestion aims to enhance EURS’s liquidity and utility within the AAVE ecosystem, thereby providing more opportunities for users and promoting further adoption of EURS on Polygon.

Motivation

Over the years, EURS has demonstrated stable and reliable performance as a fiat-backed stablecoin pegged to the Euro. Its adoption and usage across decentralized finance (DeFi) platforms have grown, showing significant demand and user trust.

Recent trends and user feedback indicate a robust demand for an augmented deposit threshold, emphasizing the need for adjustment to stay aligned with market dynamics and user expectations. Adjusting the deposit limit upwards will provide significant benefits to our users and strengthen the platform’s position in the competitive DeFi landscape.

Users will benefit from the ability to manage larger amounts of EURS efficiently. This adjustment is expected to boost the overall transaction volume, enhancing liquidity and network vitality. Moreover, the increased limit is likely to attract institutional users who require higher transaction capabilities.

Benefits for AAVE

Enhanced use experience: Higher deposit limits will enable users to perform larger transactions smoothly and efficiently.

Increased transaction volume: By allowing higher deposits, we anticipate an increase in overall transaction volume, which will contribute positively to the network’s liquidity and dynamism.

Strategic growth: This change will strategically position our platform to attract a broader user base, including institutional participants who require higher limit thresholds.

Risk diversification: Allowing EURS to be used more widely will help diversify the risk profile of the assets on the AAVE platform.

Conclusion

This new proposal seeks to adapt the EURS offerings on the AAVE platform to better meet the community’s evolving needs while maintaining stability and security within the ecosystem. The proposed changes to the deposit limits on Polygon aim to boost the overall transaction volume, enhancing liquidity and network vitality on the AAVE platform.

Next Steps

*Open discussion for community feedback.

*Adjust the proposal based on community input and expert analysis.

*Proceed to a Snapshot vote if the discussion indicates general community support.

References/Useful links:

Main Links:

Website — STASIS 1

Source Code — STASISNET (STASIS) · GitHub

STASIS provides 4 verification streams. All data is available publicly: Transparency and reserve verification

Independent Auditor Reports — STASIS EURO - CertiK Skynet Project Insight

Token contract: $1.07 | STASIS EURS Token (EURS) Token Tracker | Etherscan; UChildERC20Proxy | Address 0xE111178A87A3BFf0c8d18DECBa5798827539Ae99 | PolygonScan.

Main socials: Telegram/Twitter/LinkedIn.

STASIS/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 distributed ledger technology. Created by stablecoin issuer 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 (1).

STASIS is a European Web3 fintech company that develops customer-friendly instruments to manage digital currencies and public blockchains for payments and settlements, e-commerce, and DeFi. This platform has a solid track record and vast expertise in the technological, financial, and legal fields. Since all EURS are backed with fiat euro, there is no risk for investors and everyday users, who can always exchange their digital assets for fiat and vice versa thanks to the firm’s Sellback Service (2).

EURS stablecoin combines experience, trust, technology, and financial infrastructure to enable business growth, narrowing the gap between the European financial and digital asset markets. EURS is the oldest, largest and legal stablecoin, accessible in 175 countries. Issued since 2018, STASIS EURO has zero conflict of interest and is audited by a top global firm — the BDO. All EURS assets are backed on a 1:1 basis with liquid euro balances or cash, and reserves are held at the Lithuanian Central Bank. With over 6B euros transferred on-chain, EURS supports 7 blockchains.

Since USD-backed stablecoins are heavily dominating the market, Europeans/Asians are regularly 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 2024, it had 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, LinkedIn, and Discord servers. The project team also maintains a YouTube account (3). STASIS and EURS are often mentioned in global press media (4). Gregory Klumov, the founder and CEO of the STASIS EURS project, is the project’s main spokesperson (5), often sharing his views on crypto. The STASIS website includes a mailing address in lsle of Man and a contact e-mail (6).

Product videos

Team’s expertise video

Project Review

STASIS Wallet Introduction

STASIS Wallet

References

https://stasis.net/government-consulting/

https://stasis.net/sellback/

Social media accounts

Blog: STASIS Blog - Medium

Twitter: x.com

Telegram: Telegram: Contact @stasis_community

Facebook: Stasis/eurs

GitHub: https://github.com/stasisnet

Youtube: https://www.youtube.com/channel/UCq7eJ9c8ec2PEQweJg-pcDA

Bitcointalk: 📌[Official] STASIS EURS Stable Coin Ⓢ

STASIS/ EURS in PRESS

Stablecoin Issuer Promises Full Audits of Euro-Backed Crypto Token

Self-Regulatory Advancements To Crypto Market Will Spark Interest From Institutional Investors

Stablecoins: Popularized by Facebook, Pilloried by Regulators

New Wallet From Stablecoin Issuer STASIS Syncs With Financial Institutions

EURS: The First Crypto Pegged to the Euro

https://www.linkedin.com/in/gregoryklumov/

STSS Limited (lsle of Man) Reg number. 015541V, 2nd Floor, Quay House, South Quay, Douglas, IM1 5AR, lsle of Man; CO@STASIS.NET; +1 442 888 3881.

Best Regards,

STASIS/EURS project team

2 Likes

Good one! As I say previously, I believe it’s worthwhile to contemplate raising the borrowing limit of eurs on AAVE’s network and eliminating its isolation status. Stasis has presented a thorough argument, highlighting clear potential benefits for both the stablecoin and our ecosystem. It will be interesting to see the community’s response. I think the advantages, including improved liquidity and greater adoption, are evident. Personally, I’m in favor of this proposal! :)

2 Likes

Stasis/EURS have been very active at developing partnerships, raising the EURS deposit limit not only makes sense but it will also assist all their ecosys partners

2 Likes