What is a stablecoin?

Stablecoins bridge the worlds of cryptocurrency and everyday fiat currency because their prices are pegged to a reserve asset like the U.S. dollar or gold. This dramatically reduces volatility compared to something like Bitcoin and results in a form of digital money that is better suited to everything from day-to-day commerce to making transfers between exchanges.

The combination of traditional-asset stability with digital-asset flexibility has proven to be a wildly popular idea. Billions of dollars in value have flowed into stablecoins like USD Coin (USDC) as they’ve become some of the most popular ways to store and trade value in the crypto ecosystem. What can you do with stablecoins? Minimize volatility. The value of cryptocurrencies like Bitcoin and Ether fluctuates a lot — sometimes by the minute. An asset that’s pegged to a more stable currency can give buyers and sellers certainty that the value of their tokens won’t rise or crash unpredictably in the near future.

Trade or save assets. You don’t need a bank account to hold stablecoins, and they’re easy to transfer. Stablecoins’ value can be sent easily around the globe, including to places where the U.S. dollar may be hard to obtain or where the local currency is unstable.

Earn interest There are easy ways to earn interest (typically higher than what a bank would offer) on a stablecoin investment.

Transfer money cheaply. People have sent as much as a million dollars worth of USDC with transfer fees of less than a dollar.

Send internationally. Fast processing and low transaction fees make stablecoins like USDC a good choice for sending money anywhere in the world.

What is EEUR?

E-Money was founded in 2017 on the Cosmos blockchain and launched its mainnet in early 2020. The company previously worked with the Financial Services Authority and Ernst & Young to “develop a transparent and compliant model for stablecoins that could accommodate negative interest rates in the Euro-zone.” E-Money initially began issuing EEUR stablecoins in 2020 using Ethereum bridging technology, later incorporating Cosmos and Axelar.

“The crypto industry faced many challenges in 2022, with both centralized and decentralized entities experiencing difficulties. While e-Money was not directly affected, the stablecoin business relies heavily on integration with traditional finance, and financial institutions’ interest in cryptocurrency has waned following the events of 2022.”

According to a Jan. 9 Medium post, e-Money — a stablecoin project in the Cosmos ecosystem — will the issuance of its EURR euro stablecoin effective March 6. In explaining the decision, e-Money wrote: E-Money was founded in 2017 on the Cosmos blockchain and launched its mainnet in early 2020. The company previously worked with the Financial Services Authority and Ernst & Young to “develop a transparent and compliant model for stablecoins that could accommodate negative interest rates in the Euro-zone.” E-Money initially began issuing EEUR stablecoins in 2020 using Ethereum bridging technology, later incorporating Cosmos and Axelar.

Method

1. In this dashboard, we have analyzed the impact of EEUR news on January 9, 2023 on Osmosis stablecoins.

2. The information of this dashboard is from the date of 2023 until today.

3. The following tables are used in this dashboard: osmosis.core.fact_swaps osmosis.core.dim_labels osmosis.core.fact_liquidity_provider_actions

4. The following contract has been used to obtain information about swaps:

(ibc/9F9B07EF9AD291167CF5700628145DE1DEB777C2CFC7907553B24446515F6D0E) (ibc/D189335C6E4A68B513C10AB227BF1C1D38C746766278BA3EEB4FB14124F1D858) = USDC

(ibc/8242AD24008032E457D2E12D46588FD39FB54FB29680C6C7663D296B383C37C4) = USDT

(ibc/0CD3A0285E1341859B5E86B6AB7682F023D03E97607CCC1DC95706411D866DF7) (ibc/0CD3A0285E1341859B5E86B6AB7682F023D03E97607CCC1DC95706411D866DF7) = DAI

(ibc/5973C068568365FFF40DEDCF1A1CB7582B6116B731CD31A12231AE25E20B871F) = EEUR

The opposite numbers are used to identify the pools related to each stable coin: 674 = DAI /// 481 = EEUR /// 678 = USDC

About Me

Author: Hojjat / Discord: hojjat7878#8809 / Twitter: @hojjat8d / Email: hojjat78delshad@gmail.com / THANK YOU FOR READING!