What is Euro Coin?

Euro Coin is a euro-backed stablecoin, known as EUROC, that operates on the Ethereum and Avalanche blockchains. It is issued by Circle and follows a full-reserve model similar to USDC. Euro Coin is designed to provide stability and is backed 1:1 by euros held in euro-denominated banking accounts. It enables global accessibility, allowing anyone with an internet connection to access the euro across borders and time zones. Euro Coin can be seamlessly integrated into applications on both Ethereum and Avalanche, providing developers with flexibility. It facilitates multi-currency digital finance and near-instant foreign exchange, with the potential for arbitrage opportunities and fast settlement times. Euro Coin offers a range of use cases, including making payments, accessing borrowing and lending services, and expanding customer bases for businesses. With its availability around the clock, low transaction costs, and fast settlement, Euro Coin opens up new possibilities for digital asset trading and cross-border transactions.

About Circle

Circle is a leading global financial technology company that empowers businesses, regardless of their size, to leverage digital currencies and public blockchains for various financial applications, payments, and commerce worldwide. Circle serves as the issuer of two highly liquid and trusted stablecoin protocols, USDC and Euro Coin. These protocols provide seamless interoperability and are designed to be utilized as trusted forms of digital money on the internet. With Circle's open and programmable platform, along with its user-friendly APIs, organizations can easily operate their businesses at an internet-scale, whether it involves facilitating international payments, developing globally-accessible Web3 applications, or efficiently managing their internal treasury operations.

Since on May 25, 2023 Circle announced that Euro Coin was listed on the Avalanche chain, we decided to use the Flipside database in this dashboard to analyze the performance of this stablecoin on Avalanche from various aspects. First, we evaluate the swap status of this stablecoin. Monitoring the swap status allows you to assess the demand and popularity of the stablecoin. Higher trading volumes and a significant number of swaps indicate that users are actively engaging with the stablecoin for various purposes. On the other hand, by evaluating the swap status, market participants can gain insights into the stability and accuracy of the price of the stablecoin. In the next part, the status of EUROC transfers between different addresses in the Avalanche chain was examined. In the next section, in addition to evaluating the condition of mint and burn, the supply of this coin is also calculated. A stablecoin's price plays a critical role in establishing trust and confidence among users. When a stablecoin consistently maintains its peg, users can rely on it as a reliable and predictable medium of exchange. Therefore, in this dashboard, we also examined the price of this stablecoin. Finally, we identified the holders of this stablecoin based on their balance. The following tables were also used to extract data related to each section:

• avalanche.core.ez_dex_swaps
• avalanche.core.ez_token_transfers
• crosschain.core.ez_hourly_prices