The Angle Protocol community has released a proposal aimed at restoring the peg of the euro stablecoin agEUR

2023-03-22 17:14:45

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ChainCatcher news, the decentralized stablecoin protocol Angle Protocol community has released a proposal aimed at restoring the peg of the euro stablecoin agEUR.

The proposal suggests the following steps: 1. Allow sanETH, sanFRAX, and sanDAI holders to exit the protocol at a 1:1 ratio; 2. Allow users who borrowed agEUR with FRAX, DAI, and ETH as collateral to repay their debts to reduce the outstanding supply of agEUR; 3. Issue ANGLE or debt Tokens linked to protocol revenue to compensate for the shortfall of USDC depositors and liquidity providers; 4. Allow other liquidity providers and depositors to participate in debt Tokens or Token insurance.

Previously reported, on March 14, Angle Protocol stated that 17.6 million USDC funds were affected by the Euler attack incident. (source link)

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Angle Protocol community proposal agEUR

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