STASIS EURO EURS Price

What is STASIS EURO (EURS)?

STASIS EURO (EURS) is a stablecoin pegged to the Euro, designed to combine the benefits of traditional fiat currencies with the advantages of blockchain technology. Launched in 2018, EURS is fully backed by Euro reserves held in a bank account, ensuring that for every EURS issued, there is a corresponding Euro held in reserve. This structure aims to provide a stable medium of exchange and a secure store of value for users in the crypto ecosystem. As of 2024, EURS has gained significant traction in Europe and globally, with a market capitalization of approximately $50 million, positioning it as one of the leading Euro-pegged stablecoins.

Who are the Founders of STASIS EURO?

The STASIS EURO project was co-founded by Gregory Klumov, who serves as the CEO. Klumov has a strong background in finance and technology, having previously worked in asset management and as a consultant for various financial institutions. He, along with his team, aimed to create a transparent and compliant stablecoin solution to enhance the adoption of cryptocurrency within traditional finance. The STASIS team is composed of professionals from diverse backgrounds, including finance, technology, and law, all contributing to the project’s vision of bridging the gap between fiat currencies and digital assets.

How does STASIS EURO Work?

STASIS EURO operates on the Ethereum blockchain, utilizing smart contracts to ensure transparency and security. The process begins with the issuance of EURS, where users deposit Euros into a designated bank account. Once verified, an equivalent amount of EURS tokens is minted and sent to the user’s wallet. Every quarter, STASIS undergoes audits by third-party firms to verify that the total amount of EURS in circulation is backed by an equal amount of Euros in reserve. This mechanism not only ensures stability but also fosters trust among users. The tokens can be used for various transactions, including trading, remittances, and payments, benefiting from low transaction fees and fast processing times inherent to blockchain technology.

Top Use Cases of STASIS EURO

STASIS EURO has a variety of use cases that cater to different segments of the market:

• Cross-Border Transactions: EURS facilitates seamless and cost-effective cross-border payments, allowing users to send and receive funds without the high fees typically associated with traditional banking systems.
• Trading: Traders and investors can use EURS as a stable asset in volatile markets, providing a safe haven during market fluctuations.
• Remittances: EURS offers a fast and low-cost alternative for remittances, making it an attractive option for individuals sending money across borders.
• Decentralized Finance (DeFi): Users can leverage EURS in various DeFi applications, including lending, borrowing, and yield farming, thereby accessing liquidity and earning potential without exposure to volatility.
• Merchant Payments: Businesses can accept EURS as payment, allowing them to tap into the growing crypto market while maintaining the stability of the Euro.

How to Keep your STASIS EURO Safe?

To ensure the safety of your STASIS EURO tokens, consider the following security practices:

• Use a Hardware Wallet: Store your EURS in a hardware wallet, which provides an offline storage option, reducing the risk of hacks or unauthorized access.
• Enable Two-Factor Authentication (2FA): Always enable 2FA on your exchange accounts and wallets to add an extra layer of security.
• Regularly Update Software: Keep your wallet software and any associated applications up to date to protect against vulnerabilities.
• Be Cautious of Phishing Scams: Always verify the authenticity of emails or messages related to your accounts and never click on suspicious links.
• Withdraw to Cold Storage: For long-term holding, consider withdrawing your EURS to a cold storage wallet, which is not connected to the internet.