STASIS EURO (EURS)

What is STASIS EURS?

The STASIS EURS token is a collateral-backed stablecoin designed to mirror the price of the euro on a 1-to-1 basis. Backed by regularly audited currency reserves, the EURS token offers its holders an alternative stablecoin product by being fixed to the price of the euro, rather than the US dollar used by traditional stablecoins. EURS is an ERC20 compliant token which uses Ethereum-based smart contracts to manage its euro pegging and allows holders to escape the extreme volatility often associated with many cryptocurrencies.

History of STASIS EURS

STASIS was founded by CEO Gregory Klumov and CTO Anatoliy Knyazev, who are blockchain experts, fouding the the world’s first cryptocurrency hedge fund in 2012, which went on to be massively successful over the course of the next year. The remainder of the team behind STASIS has a diverse array of professional backgrounds, including alternative investment, algorithmic trading, blockchain, software development, security, and law. Backed by private investments, the EURS token began trading on July 31^st, 2018, achieving a market capitalization of $33 million by December that year, which at the time placed it in the top 50 coins by market cap.

How STASIS EURS Works

In order to provide accountability, STASIS uses three verification streams to guarantee the adequacy and transparency of the balances for all accounts through which backing collateral is held. STASIS provides statements based on daily information provided from its counterparties, undergoes weekly verification by a licensed third party, and a quarterly verification by the financial firm BDO Malta. In addition, it provides verification by another firm on demand or for the benefit of a newly onboarded entity.

Why STASIS EURS?

As far as stablecoins are concerned, STASIS EURS provides some unique advantages which other stablecoins do not, including:

Advanced auditing. STASIS EURS has an array of different sources which it uses to verify its accountability, including daily, weekly and quarterly audits provided by the sources of its collateral and by well-respected financial firms.

Smart contract driven. The Ethereum-based smart contracts with which STASIS EURS operates have also been audited in their own right to assure that they cannot be manipulated, exploited or subject to hacks. Their execution also enjoys the security and speed provided by the Ethereum blockchain.

Pegged to the euro. As most other stablecoins of its size are based on the US dollar, STASIS EURO provides an alternate form of stability for those who would rather park their crypto funds in a euro-based store of value. It is also backed by an equal amount of euro holdings which means its value is likely only to change relative to that of the US dollar, depending on forex market price movement.

Legally compliant. STASIS makes use of blockchain-friendly legal infrastructures to insure that its product is compliant in all the countries hosting exchanges in which it is traded. As new laws and legislations are passed, the team behind STASIS remains committed to the development of a comprehensive legal framework for asset digitalization in order to insure the continued legality of the EURS token.