Welcome to EUR+

The leading asset pledged decentralized
euro stablecoin based on ETH reserve contract

Mint EUR+

Why Choose EUR+ ?

Current stable coins in the market are anchored to the US dollar while stable coins anchored to the euro provide users with a choice of different fiat currencies. As the US dollar exchange is becoming more unstable, for safe storage of value, the euro provides a safe alternative.

A completely decentralized stablecoin

Completely based on users’ independent minting and burning with no centralized organization for minting or censoring.

Use ETH as an asset reserve

Only ETH is used as a reserve asset to maintain price stability through over-collateralized position contracts. Compared with DAI, which uses a basket of tokens as a reserve, the underlying risk is lower, and it is less prone to systemic risks caused by large-scale liquidation.

Automatically stabilize prices

The contract regularly checks the current EURP price, automatically calculates the interest rate and the distribution of governance token incentives to encourage users to mint or burn EURP and make the price return to the anchor price faster.


The following are some key technical descriptions of EURP technology. For more specific information, please refer to the code link and related documents:
User Guide & Whitepaper

Getting Start

EUR+ is a stable currency system that runs on Ethereum and is composed of smart contracts. It consists of several different modules. Users can directly interact with the contract through dapp, or let other contracts interact with EUR+ through the provided interface.


Users deposit ETH in treasury, then collateralize and cast the EUR+ contract. The price of ETH is provided by chinlink, and users can deposit and withdraw ETH in the contract, and mint or destroy EUR+.


The interest rate is maintained by the EthInterest contract, which will calculate the interest rate that the current user should pay based on the current interest rate and casting time. The interest rate is automatically determined by the moderator contract.


In order to reward users for casting EUR+ and providing supply to the market, the system will provide governance token rewards for users who mint EUR+. The specific supply is the same as the interest rate, which is determined by the moderator contract based on the current market price.


The role of the moderator contract is mainly to automatically adjust the interest rate and governance token rewards to respond more quickly to price, incentivizing and influencing the behavior of users. When the market price of EUR+ is lower than 1EUR, the moderator will increase the interest rate, reduce or stop the reward from EUR+ casting, to reduce the supply of EUR+ in the market and increase the price. If the market price of EUR+ is higher than 1EUR, the moderator will reduce the interest rate to a minimum of 0, increase the rewards of governance tokens to encourage users to cast more EUR+, and increase market supply to reduce prices. It's like a machine that automatically adjusts prices.


When the price of ETH in the market drops sharply, causing the value of ETH pledged by users to be lower than the clearing line, it will clear the system. During liquidation, the user's ETH will be repurchased EUR+ from the market and be destroyed. The system can repurchase EUR+ from multiple channels, and the current one is uniswap.

Frequently Asked Questions


  • EUR+ is the first decentralized Euro stablecoin based on a pure ETH reserve.

    Compared with other stablecoins, EUR+ has these characteristics: full asset reserve, anonymity, no censorship, fast and easy to integrate with other dapps.

  • We regard EUR+ as a value exchange tool. Any scenario that may require payment in Euro may be a use scenario of EUR+. At the same time, we hope that EUR+ will eventually become an underlying asset in the current DEFI system, We are working on it.

  • For ordinary users, you can buy EUR+ on a centralized or decentralized exchange, like uniswap, just like buying other cryptocurrencies.

    In addition, users can also pledge ETH and mint EUR+ in the EUR+ DAPP. This process is the process of minting and issuing the new EUR+.

  • Just like in the previous section, users can pledge ETH and mint EUR+ in the EUR+ DAPP.

    This process is similar to borrowing. You pledge your ETH in the system and lend EUR+ at the same time. You can repay the EUR+ and interest ( by EUR+ also ) later, and then can get back your pledged ETH at the same time.

  • The main reason is that this is a mechanism for the system to adjust the price of EUR+ and keep EUR+ stable relative to EUR. See the next section for detailed implementation.

  • Mainly through adjusting the interest and the distribution of governance token SUP, to incentivize users to mint or burn EUR+ according to the market price, and adjust the market supply to stabilize the price at 1EUR.

    The EUR+ system will regularly react to the current price through smart contracts and automatically adjust the interest rate and the distribution of the platform's governance token SUP.

    When the price of EUR+ is higher than 1EUR, it means that the demand for EUR+ is greater than the supply. Users should be encouraged to mint as much as possible. At this time, the smart contract of the system will automatically reduce the interest rate and increase the distribution of SUP to encourage users to mint more. When the price of EUR+ is lower than 1EUR, it means that the demand for EUR+ is less than the supply, and users should be encouraged to destroy the minted EUR+ as much as possible. At this time, the system will automatically increase the interest rate and reduce or stop the distribution of SUP.

    Since the user deposits more ETH than the value of the coin when the new EUR+ is minted, the minting is not cost-free. When the price of EUR+ is lower than 1EUR, the minter also has an incentive to buy low-priced EUR+ from the market and return to the vault to retrieve their own ETH.

  • When users mint EUR+, they need to deposit ETH that exceeds the value of the minted coin as collateral, usually 150% of the minted EUR+. However, due to the price fluctuation of ETH, when the price of ETH drops, the value of ETH pledged by users may be lower than the EUR+ that they minted. At this time, EUR+ will lose its value support.

    To prevent this from happening, the system has set a liquidation standard, which is currently 120% of the value of the EUR+ minted. When the value of the user's pledged ETH is lower than the liquidation standard, the system will cause the user's vault to be liquidated.

  • The collateral of EUR+ is ETH, and the price of ETH fluctuates. The goal of the entire system is to maintain price stability with over-collateralization, that is, the value of ETH in the entire system should be greater than the value of the minted EUR+.

    When the price of ETH drops below the liquidation standard (usually 120%), it will cause the system to liquidate the user's vault.

    For a vault where a user deposits ETH, the ETH deposited by the user is collateral, and the minted EUR+ is the debt of the user. Liquidation will occur at a certain point in time before the value of the user’s collateral will be lower than the debt, that is, when the value of the collateral (ETH) is lower than the liquidation stand of the debt (EUR+) (usually 120%, that is, the value of the mortgaged ETH Less than 120% of the value of the minted EUR+).

    After liquidation, the ETH in the user's vault will be traded on the market and exchanged for EUR+ to balance the entire system's reserve of EUR+. At the same time, users do not need to repay the minted EUR+ and the resulting interest because the collateral no longer exists.

  • Early users can get a part of the governance token SUP as a reward. The upper limit of SUP is 21 million. The upper limit of minting will be calculated by block height ( In other words, it depends on time) and halved every year, so about 10.5 million are issued the first year (a tribute to Satoshi Nakamoto here).

    The biggest use of SUP is community governance. At the same time, after switching to DAO governance, the system income (mainly interest) may also be repurchased and burned on SUP.

    In the design of the entire system, SUP is also used as an additional incentive to stimulate users to mint EUR+, and adjusted according to the current EUR+ price to maintain EUR+ at 1EUR.

    In the early stage of the current cold start of our system, we will continue to provide a certain percentage of SUP as a reward for minting users. At the same time, a part of SUP is reserved as a reward for providing liquidity or other behaviors in the future.


Learn more about EUR+, contact the team or others in the community, and have your say in shaping the future of the Crypto ecosystem.