The Stargate DAO community voted in favour of adding Circle's Euro stablecoin EUROC to Stargate Finance. The vote has closed with a 95.25% approval rate. The community states adding Euro to Stargate would increase the number of users, transaction numbers, and volume. The currency pair EUR/USD represents around 20% of foreign exchange trading volumes.
Circle’s Euro Coin (EUROC) is a euro stablecoin backed by full reserves currently released on Ethereum and Avalanche. It is similar to USDC except it is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.
Despite the continuing bear market, both the number of transactions and volume of Stargate Finance has been maintained at a relatively elevated level since March this year according to data provided on Stargate website.
