BlockBeats News, March 4th, the decentralized stablecoin protocol Angle Protocol officially announced that the Angle community has voted to proceed with the orderly wind-down of the EURA and USDA stablecoins. Users are required to redeem their stablecoins before March 1, 2027, at a 1:1 exchange rate with no loss. The remaining reserves will be airdropped among unredeemed holders via Merkle.
The Angle team is currently building Merkle, focusing on a DeFi incentive platform. Users will be able to redeem EURA and USDA on Ethereum through the Angle application in the next year and swap EURC and USDC at a 1:1 ratio using the Angle Transmuter on the same application. Note that after March 1, 2027, the Angle protocol will cease operations, and EURA and USDA may become unpegged. The second phase of the wind-down will commence after the redemption period, and the remaining reserves will be proportionally airdropped to Ethereum holders of EURA and USDA. Only users who have moved back to Ethereum will be eligible to receive the airdrop. The airdrop will be distributed via Merkle. Subsequently, a third phase will offer an additional one-year claims period where users can directly claim EURC or USDC on Merkle, thus forming a total two-year fund redemption window.
