- #1748
eUSD [OLD] EUSD
EUSD Price
Market Cap
$2.50 MRank #1748FDV
$2.50 MRank #1920Investors
Twitter Followers
Twitter Performance
17Rank by Twitter #19280- 0
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Detailed Performance
EUSD shows Bearish signs against top cryptocurrencies, leading categories and blockchains over various time periods
EUSD to USD Converter
Price History
- All-Time High
- $1.331.35x to ATH
- All-Time Low
- $0.66011.50x to ATL
- Trade Launch Date
- 10 May, 2023
350 days ago
About EUSD
eUSD is a stablecoin that is part of the Lybra Protocol. It is an interest-bearing stablecoin, meaning that holding eUSD allows users to earn interest on their holdings. eUSD is backed by collateral in the form of ETH/stETH, which users can deposit and use to mint/borrow eUSD. The value of eUSD is designed to remain close to its peg of 1 USD through mechanisms such as overcollateralization, liquidation mechanisms, and arbitrage opportunities. Users can also sell eUSD on decentralized exchanges or use it in other DeFi protocols.
What makes eUSD unique?
eUSD has several unique features that set it apart from other cryptocurrencies. Firstly, it is designed to maintain stability and remain close to its 1 USD peg. This stability is achieved through a combination of overcollateralization, liquidation mechanisms, and arbitrage opportunities.
Additionally, eUSD is an interest-bearing cryptocurrency. Holders of eUSD can expect to earn a base annual percentage yield (APY) of approximately 7.2%. This makes it attractive for investors seeking a steady income stream while still being exposed to the cryptocurrency market.
Another unique aspect of eUSD is its interaction with the Lybra Protocol, stETH, and Liquidity Staking Derivatives (LSD). When users deposit ETH as collateral, it is converted to stETH, which earns yield from staking on the Ethereum 2.0 network. This yield is further boosted by interacting with LSD, providing additional earning potential for eUSD holders.
Furthermore, eUSD offers a cost-efficient minting and loan process. When the price of eUSD exceeds 1 USD, users can mint new eUSD by depositing ETH as collateral and sell the newly minted eUSD on a decentralized exchange (DEX). This increases the market supply and lowers the price back to 1 USD. Users can then buy back eUSD at a lower price or use it to repay their loans, potentially realizing a profit.
Overall, eUSD combines stability, interest-bearing capabilities, and a unique interaction with the Lybra Protocol and LSD, making it a distinctive option among cryptocurrencies.
Live eUSD [OLD] Price Data
The current price of eUSD [OLD] (EUSD) is approximately $0.9882, reflecting a increase of 1.11% in the last 24 hours. The EUSD trading volume in the last 24 hours stands at $61.50. eUSD [OLD]'s market cap is currently $2.50 million, accounting for about < 0.01% of the total crypto market cap. The circulating supply of EUSD is 2.53 million.
For a comprehensive list of exchanges, visit our crypto exchanges page. To understand eUSD [OLD]'s performance over time, consider exploring its price history and ROI. For in-depth analysis and insights on EUSD, check out our crypto insights page.
Official Links
EUSD to USD Converter
Price History
- All-Time High
- $1.331.35x to ATH
- All-Time Low
- $0.66011.50x to ATL
- Trade Launch Date
- 10 May, 2023
350 days ago