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VEUR: The #1 EUR Stablecoin on Solana
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VEUR has become the #1 EUR stablecoin on the Solana network, according to the data on one of the leading DeFi analytics platforms Defilama.
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VNX Euro (VEUR) is a multichain token referencing Euro and generated by VNX, a company registered by Liechtenstein FMA. VEUR is also deployed on the Solana blockchain, which offers high speed and low fees compared to alternatives like Ethereum. Leveraging Solana allows VEUR transactions to settle faster and cheaper than stablecoins on other blockchains.
VEUR has become the #1 EUR stablecoin on the Solana network, according to the data on one of the leading DeFi analytics platforms Defilama.
Unlike widely spread USD-stablecoins, VEUR offers a European alternative by referencing the Euro and provides unique opportunities for those dealing with Euro payments or living in Europe. As a stablecoin referencing Euro, VEUR combines the stability and trust of fiat currency with the speed and accessibility powered by blockchain. It aims to bridge the traditional finance world with the emerging decentralized ecosystem.
VEUR strives for full transparency when it comes to its reserves. VNX regularly publishes independent third-party audit reports that confirm the value of reserves supporting the VEUR token. These audits provide assurance to users that VEUR maintains its 1:1 reference to the euro. The transparency over its reserves and operations is a key part of building trust in VEUR as a stablecoin.
Advantages of VEUR
VEUR provides price stability amidst volatility in the crypto markets referencing a value of Euro. This stable pricing unlocks a variety of advantages:
Quick, low-cost transactions – VEUR enables fast transfers of value across borders at a fraction of the fees charged by traditional remittance and payment providers. Transactions on the blockchain settle in seconds for negligible costs.
24/7 accessibility – VEUR provides users with instant access to Euro-denominated liquidity anytime, anywhere. Transactions can be made globally on a 24/7 basis, with no downtime, weekends, or holidays.
Vast DeFi opportunities – Stable assets like VEUR are critical building blocks in decentralized finance. VEUR unlocks innovative yield opportunities through liquidity pools, lending protocols, and more. Whereas volatile crypto assets introduce risk, VEUR allows users to earn attractive yields on stable value.
By combining Euro stability with crypto convenience, VEUR delivers an efficient medium of exchange for the digital economy. It expands the possibilities for moving, managing, and unlocking value globally.
Discovering DeFi Horizons with VNX on Solana DeFi
VEUR on Solana received a great adoption in DeFI. Pools with VEUR are available both on Orca and Raydium, which are among the largest DEXs on Solana in terms of total value locked and daily trading volumes. The availability across major DEXs improves accessibility and unlocks more DeFi use cases for the VEUR.
Raydium, a Top AMM built on the solana with lightning-fast trades, shared liquidity and new features for earning yield, launched several pools featuring VEUR, further increasing liquidity and earning opportunities. Pools on Raydium include:
VEUR pools are live on Solana’s top yield optimizer – Hawksight, giving opportunity to earn incentives in different tokens on Orca, along with Hawksight rewards:
Armada, a cutting-edge DeFi platform on Solana that offers smart and practical solutions for efficient operations in DeFi, launched a managed vault featuring pool bSOL/VEUR on Orca:
Kamino,an automated position manager on Solana for Concentrated Liquidity DEXs, empowers participants to earn optimized yields by providing on-exchange liquidity to new concentrated liquidity pools deployed on Orca:
As more decentralized exchanges, lending protocols, synthetic asset platforms, and other DeFi applications are developed on blockchains like Solana, the demand for stablecoins as the base trading pair and collateral will surge.
Major corporations and financial institutions are also exploring ways to utilize stablecoins for cheaper, faster cross-border payments and blockchain-based financial projects. As these real-world use cases take off, they will bring in billions of dollars of capital into stablecoins like VEUR.
Going forward, VEUR aims to expand integrations and use cases across lending, payments, and tokenized real world assets on Solana and other blockchains. With a seasoned European team and strong VC backing, VEUR appears well-positioned to achieve its roadmap goals in 2024 and beyond.
