Angle Protocol has announced the phase-out of its EURA and USDA stablecoin businesses following the approval of proposal AIP-112 by its community. The transition will occur over a one-year period, allowing users to transfer their EURA and USDA holdings from various blockchains back to Ethereum via the Angle App until March 1, 2027. These stablecoins can be exchanged for EURC and USDC at a 1:1 ratio.
During this transition, users can close VaultManager positions and retrieve collateral. Post-transition, the protocol will cease operations, and EURA and USDA may lose their pegs. Remaining reserves will be managed by a multisignature and airdropped proportionally to unredeemed holders on Ethereum through Merkl. Users will have one year to claim the airdrop once it becomes available.
Angle Protocol to Phase Out EURA and USDA Stablecoins
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