Stablecoins have become a core aspect of the cryptocurrency industry over the past few years. However, these currencies do not appeal to institutional investors looking for a return on investment. EURxb.finance is changing the game through its new EURxb stablecoin.
Can you get more out of a stablecoin?
The concept of creating a currency that is tied to a Euro can be appealing to the right users. For those who want to enter the cryptocurrency industry, finding a digital solution to enter and exit positions regularly is paramount. As such, converting from fiat currency in a bank account to a Euro-backed stablecoin can prove valuable, even though the current offerings on the market struggle for traction.
The main reason for this lack of adoption is that the existing Euro-backed (and their first-moving USD-backed) stablecoins offer no new differentiation. It represents a flat value of 1 Euro (or USD) but does not provide any extra functionality or perks. EURxb.finance, on the other hand, introduces an additional layer that can bring more institutional investors into the fold, and add value to holders.
Unlike other Euro-based stablecoins, the EURxb asset will provide users with a 7% interest per annum. All users need to do is keep the funds in their wallets, creating a different take on digital currencies and the risk of earning interest in one’s existing portfolio. Competing EURO currencies, such as sEUR, EURx, and others, do not provide such functionality. What EURxb.finance provides is game-changing for the industry.
Peeking Under The Hood
Launching a Euro-backed stablecoin that provides a fixed interest rate per year is not done out of the blue. EURxb.finance can provide this functionality thanks to Miris AS’s secured Green Bond. This bond has a fixed annual yearly yield of 7%, allowing users of EURxb to benefit from the same rate.
As EURxb.finance works closely with Miris AS, holders of the Green Bond now have the option to experiment with the EURxb asset, which is issued as an ERC20 token on the Ethereum blockchain. Having a stablecoin backed by regulated securities creates a new option for institutional investors to improve their profit ratio. Additionally, the ERC20 EURxb token provides a gateway to decentralized finance on Ethereum, creating even more opportunities to diversify one’s portfolio.
It is crucial to note that the Green Bonds are tokenized through the ERC-721 NFT standard and require over-collateralization of 133% with approved assets.
The XBE Governance Token
Investors who opt to use their MIRIS AS’s Green Bonds to obtain EURxb will have the option to provide liquidity on two decentralized exchanges: Uniswap and Balancer. Doing so will entitle these users to XBE governance token rewards. Four pools will be created, awarding the tokens based on one’s share of the total pool’s liquidity.
Although XBE is primarily used for governance – such as voting on other securities to be encompassed in the EURxb.finance fold – it is also a way to decide how the fees from the EURxb Vault are directed. However, the team wants to emphasize that XBE is a valueless asset.
Speaking of the Eurxb Vault, it is an institutional vault allowing for transparent and regulated access of institutional funds to the world of DeFi. This unique product has an expected 5% APY – on top of the passive 7% interest per annum.
A revolution is taking place in the world of stablecoins. Whereas Euro-based pegged assets have proven relatively unpopular (compared to their USD counterparts) to date, the effort by EURxb.finance can change this narrative quickly. By catering to institutional investors who own Miris AS’s Green Bonds, the overall landscape will change for good. A stablecoin that can accrue passive revenue of up to 7% per year has never been attempted before, primarily because it requires an underlying asset capable of offering such performance. These Green Bonds create a viable base for experiments with blockchain technology, tokenization, and DeFi.
Bridging the gap between traditional finance and decentralized finance can create a new liquidity stream that can catapult the latter industry to new levels. With its international appeal and a focus on creating a Euro-based stablecoin, EURxb.finance provides a compelling reason for Green Bonds owners to explore a new and exciting industry.
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