Foresight News reports that the decentralized stablecoin protocol Angle Protocol has announced that the Angle community has voted to orderly liquidate the EURA and USDA stablecoins (AIP-112). Users must redeem their stablecoins before March 1, 2027, with an exchange rate of 1:1 and no loss incurred. The remaining reserves will be airdropped to holders who have not redeemed through Merkl.
The Angle team has now transitioned to Merkl, focusing on DeFi incentive platforms. Users will be able to redeem EURA and USDA on Ethereum through the Angle app within the next year, and exchange EURC and USDC at a 1:1 ratio via the Angle Transmuter on the same app. Note that after March 1, 2027, the Angle protocol will cease operations, and EURA and USDA may depeg.
The second phase of liquidation will begin after the redemption period ends, with remaining reserves airdropped proportionally to EURA and USDA holders on Ethereum. Only users who have transferred back to Ethereum are eligible to receive the airdrop. The airdrop will be distributed through Merkl. The subsequent third phase will offer an additional one-year claim period, allowing users to directly claim EURC or USDC on Merkl, forming a total two-year window for fund redemption.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether advances its stablecoin business and integrates with the Bitcoin Lightning Network
Gate News reports that on March 19, Tether is advancing the integration of its stablecoin business with Bitcoin's Lightning Network. The Lightning Network is a network layer built on Bitcoin that supports faster and lower-cost transactions. This move aims to expand the application scenarios of Tether stablecoins through the technical advantages of the Lightning Network and attract more users to utilize the Bitcoin network.
GateNews15m ago
Hyperliquid Launches First On-Chain S&P 500 Perpetual Futures, HYPE Token Rises Nearly 2% Today
Hyperliquid partners with TradeXYZ to launch the first on-chain S&P 500 perpetual futures contract, authorized by S&P Dow Jones, supporting 24/7 trading and driving traditional financial products into the crypto market. HYPE token surges nearly 2%, up 76% year-to-date, while Hyperliquid leads trading volume in the commodities market.
GateNews44m ago
AI-Powered Financial Platform Ottimate Appoints Shawn Lane as CEO
Gate News, on March 19th, AI-driven accounts payable automation and payment platform Ottimate announced the appointment of Shawn Lane as Chief Executive Officer (CEO), responsible for leading the company's next phase of AI-driven growth strategy. Shawn Lane previously served as CEO of LivTech.
GateNews1h ago
Cardano Hard Fork Upgrade Nears With Critical Node Release Anticipated - U.Today
Cardano is set to release Node 10.7.0, crucial for the upcoming van Rossem hard fork (Protocol 11). This update introduces new Plutus built-ins and enhances ecosystem integration while maintaining compatibility, aiming for improved performance without disrupting existing contracts.
UToday1h ago
Algorand Foundation Completes Strategic Integration, Commits $15 Million to Support Protocol Development
Algorand Foundation and Algorand Technologies announced on March 19 a strategic integration agreement that will consolidate technology development and intellectual property into the Foundation, with a commitment to invest at least $15 million to support the maintenance and development of the protocol.
GateNews2h ago
Fintech company SBS appoints former JPMorgan executive Adam Shpiro as Chief Marketing Officer
Gate News, on March 19, fintech company SBS announced the appointment of Adam Shpiro as Chief Marketing Officer (CMO), responsible for leading the company's global brand expansion strategy. Adam Shpiro previously served at JPMorgan. It is reported that SBS is currently providing services to banks and financial institutions in Europe, Africa, and North America
GateNews2h ago
