STASIS EURS

STASIS EURS (EURS) is a stablecoin pegged to the euro currency, issued by the Malta-based fintech company STASIS. Here is a brief overview of its history:

• 2018: STASIS was founded, and EURS was launched on the Ethereum blockchain. It was the first euro stablecoin, aiming to bridge the gap between decentralized finance (DeFi) and traditional finance.

• 2019: The company introduced its Stasis Wallet, which offered traditional financial institutions novel access to cryptocurrencies.

• 2020: STASIS announced a new wallet and expanded its services to include listings on multiple exchanges. The company also released a book on digital regulation.

• 2021: EURS saw significant gains in market capitalization as more institutional investors showed interest. The token was launched on additional blockchains, including Polygon, Algorand, and Ripple. A second version of the token, EURS v2.0, was also launched, which reduced transaction costs by 20-35%.

• 2022: Over 5.5 billion euros of value had been transferred on-chain using EURS. The company continued to expand its services and partnerships, including the acquisition of an EMI (Electronic Money Institution) license.

• 2023: STASIS integrated EURS on the Stellar network, further expanding its reach and functionality. By this time, EURS had firmly established itself as a leading asset in the euro stablecoin segment, with over 6 billion euros transferred on-chain across multiple major blockchains.

Throughout its history, STASIS has focused on transparency and compliance, regularly publishing proof of reserves and undergoing audits to ensure the stability and trustworthiness of its stablecoin.

STASIS EURS (EURS) is a stablecoin that works by maintaining a peg to the value of the Euro. Here's how it operates:

EURS is fully backed by liquid euro balances held in reserves. These reserves are managed by licensed financial intermediaries and are audited regularly to ensure transparency and accountability. The reserves are held at the Lithuanian Central Bank, providing an additional layer of security and trust.

The stablecoin is collateralized, meaning that for every EURS token issued, there is a corresponding euro held in reserve. This 1:1 collateralization ensures that the value of EURS remains stable and equivalent to the value of the Euro.

STASIS conducts regular audits to verify the reserves and ensure that the stablecoin is fully backed. These audits are performed by top-tier accounting firms, such as BDO, and the results are published daily, quarterly, and yearly. This transparency helps maintain trust in the stability and integrity of EURS.

EURS is integrated into various blockchain networks, including Ethereum, Polygon, XDC, XRPL, Algorand, and Stellar. This allows for seamless on- and off-ramping of fiat currencies, enabling users to bridge assets across different blockchains and leverage arbitrage opportunities.

EURS can be used for various purposes, such as storing value, making global payments, and facilitating DeFi lending and remittances. It also supports white-label corporate settlements and other commercial use cases.

EURS is supported by a range of popular wallets, including Metamask, Exodus, Monolith, Argent, SafePal, Coinomi, and the native STASIS Wallet. This allows users to easily manage and transact with EURS across different platforms.

STASIS generates revenue through fees charged for certain activities on the platform, such as buying or selling stablecoins. Additionally, the company offers custom tech solutions and white-label solutions to financial institutions and other businesses, which contribute to its revenue.

Overall, STASIS EURS operates by combining the benefits of a stable fiat currency with the efficiency and transparency of blockchain technology, making it a reliable and trustworthy option for users seeking a euro-backed stablecoin.

STASIS EURS (EURS) has several strengths that contribute to its stability and reliability as a digital asset:

1. Stability: EURS is pegged to the Euro, ensuring a 1:1 ratio and minimizing volatility. This stability makes it an attractive option for users seeking a reliable store of value.

2. Transparency: EURS operates on a transparent blockchain, allowing users to easily verify transactions. The company also publishes daily statements from account providers, quarterly verifications, and annual audits by a top 5 global accounting firm to ensure transparency and accountability.

3. Accessibility: EURS can be easily stored, transferred, and traded on various cryptocurrency exchanges and wallets. Its compatibility with popular platforms makes it highly accessible to users across the globe.

4. Security: Built on the Ethereum blockchain, EURS benefits from robust security measures. The use of smart contracts ensures that transactions are executed in a secure and tamper-proof manner.

5. Global Reach: EURS has been recognized and used across 175 countries, making it a widely accepted digital asset.

6. Regulatory Compliance: STASIS, the issuer of EURS, has been cooperating with the Government of Malta on the regulatory framework for cryptocurrencies, ensuring compliance with regulatory standards.

7. Institutional Support: EURS has garnered significant interest from institutional investors, which adds to its credibility and stability.

These strengths have contributed to EURS's widespread adoption and its position as a trusted and sought-after digital asset in the cryptocurrency market.

STASIS EURS (EURS) faces several risks, primarily related to its governance, regulatory compliance, and asset management. Key concerns include:

1. Governance and Regulatory Compliance:

   • Obscure Corporate Setup: The corporate structure of STASIS is unclear, leading to questions about regulatory compliance across various jurisdictions in the EU.
   • Lack of Transparency: The ownership and control of the multi-sig wallets managing the token and treasury contracts are not publicly disclosed.

2. Asset Management and Liquidity:

   • Asset-Liability Mismatch: STASIS's accounting strategy can lead to a mismatch between assets and liabilities, making EURS prone to liquidity issues.
   • Bond Portfolio Risks: The company's bond portfolio has been trading at a discount, posing a risk of insolvency in the event of a bank run.
   • Cash Infusion: Questions remain about whether a cash infusion was required to maintain the EURS collateralization ratio after the bond portfolio liquidation.

3. General Risks:

• Centralized Control: As a centralized stablecoin, EURS is vulnerable to the risks associated with a single controlling entity, including potential mismanagement or regulatory issues.
• Market Volatility: EURS, like other stablecoins, is exposed to market fluctuations, which can impact its value and liquidity.

These risks highlight the need for STASIS to address its governance and regulatory compliance issues, as well as to improve its asset management and liquidity strategies to ensure the stability and trustworthiness of EURS.

• Gregory Klumov: CEO of STASIS, founder of the project.
• Anatoliy Knyazev: CTO of STASIS.
• Vyacheslav Kim: CFO of STASIS.
• Konstantin Orlov: CLO of STASIS.
• Val Kim: Employee at STASIS/EURS.
• Dmitry Golubev: Employee at STASIS/EURS.
• Anatoly Slesarenko: Employee at STASIS/EURS.
• Sergey Korneev: Employee at STASIS/EURS.