On March 4th, the decentralized stablecoin protocol Angle Protocol officially announced that the Angle community has voted to orderly liquidate EURA and USDA stablecoins. Users must redeem their stablecoins before March 1st, 2027, during which time the exchange ratio will be 1:1 with no loss. The remaining reserves will be airdropped to unredeemed holders via Merkl.
The Angle team is currently developing Merkl, a DeFi incentive platform. Users can redeem EURA and USDA on Ethereum through the Angle app within the next year, and exchange them for EURC and USDC at a 1:1 ratio via the Angle Transmuter. Note that the Angle protocol will cease operation after March 1, 2027, and EURA and USDA may become de-pegged. The second phase of liquidation will begin after the redemption period ends, with remaining reserves being airdropped proportionally to EURA and USDA holders on Ethereum. Only users who have already transferred back to Ethereum are eligible to receive the airdrop. The airdrop will be distributed through Merkl. The subsequent third phase will provide an additional one-year claim period, allowing users to directly claim EURC or USDC on Merkl, thus creating a total two-year redemption window.
