Proposal: Add Support for STASIS EURO (EURS) stablecoin on Idle

The integration of a protocol/asset is a long process, that consists of many steps and analysis.
The Governance has just approved a framework to evaluate new integrations and assess proper due diligence, with a set of minimum requirements.

When do you expect that the Fuze integration will be in production? This might be the first step, as Idle needs an underlying yield source.

Third-party due diligence processes should be taken into account too: according to MakerDAO’s Risk Core Unit Team, the answers provided there generate a sense of lack of confidence in EURS reserves.

A quote of the message is reported below:

The answer I’ve heard is fairly opaque - Stasis invests a portion of funds in high yield/high risk investments to shield EURS from negative rates, but there’s no transparency into the quality and composition of those investments. I don’t see how MakerDAO can earn excess risk adjusted returns on an EURS vault in these circumstances, which helps explain the low prioritization.

I would vouch for a EUR solution that addresses the huge market potential that might be unlocked in the next years, but maybe more benchmark from other protocols and solid lending protocols that support the asset would help the community to interact more on this topic and move it to the next phase.

3 Likes