The Angle Protocol community released a proposal aimed at restoring the anchoring of the euro stable currency, agEUR

On March 22, the decentralized stable currency agreement, the Angle Protocol community, released a proposal aimed at restoring the anchored exchange rate of the euro stable currency, agEUR. The proposal proposes the following steps:

Interpretation of this information:

The Angle Protocol community has released a proposal to restore the anchored exchange rate of the euro stable currency, agEUR. The decentralized stable currency agreement aims to stabilize its Euro stable currency agEUR after its exchange rate was found to be unstable in recent months.

The proposal suggests several steps. Firstly, to initiate a new reserve to back the agEUR, which will enable the community to stabilize the exchange rate. Secondly, to use the newly formed reserve to buy and sell agEUR at a fixed rate, making sure it remains stable. Lastly, to ensure the new reserve’s liquidity and protect it against market instability, the Angle community will use the reserves to grant loans to interested parties.

The proposal seeks to streamline the process for the conversion of agEUR to stable currency, fiat currency or other assets, building greater trust within the community. This will ensure that agEUR remains an attractive currency for traders and investors alike, expanding its adoption and driving its growth.

The proposal’s success depends on the support of the Angle Protocol community, and this will require holding and staking the Angle token at a higher rate. To incentivize members to support the agEUR, the proposal suggests offering them higher interest rates.

Overall, the Angle Protocol community’s proposal indicates a desire to create a stable and reliable Euro stable currency for the decentralized finance ecosystem. By implementing the steps proposed, the community will have a more secure and growth-oriented agEUR, appealing to traders and investors.