STASIS EURO (EURS) is a cryptocurrency token developed by the Maltese startup called STASIS. The token was developed with an aim of becoming an EURO-based stablecoin.
Stablecoins are cryptocurrency tokens that have a price connected to some other, real-life asset. These tokens are mostly used as a way for cryptocurrency traders to store value in a more or less stable form during significant market fluctuations. As only a few cryptocurrency exchanges allow to use fiat money, stable coins are a suitable alternative.
Stablecoins are a convenient way to perform cross-border transactions and provide the classic financial institutions with a path to the cryptocurrency industry. The Stasis Eurs team also mentioned such use case as the value tokenization.
Most of the time, cryptocurrency projects that issue stablecoins establish some kind of financial trust and collect enough real-life funds (gold, euros, dollars) to back a price of a token. Such trust is regularly examined by third parties to ensure the ability of the project to provide token holders with the asset to which a token is connected.
The token was announced on July 31, 2018 to provide a digital asset linked to euro on a 1:1 basis.
The company and its team
The STASIS EURS project’s team mostly consists of Russian specialists. The project was founded by Gregory Klumov who is its current CEO. Some other important management team members are the CTO of the project - Anatoliy Knyazev, the CFO - Vyacheslav Kim and the CLO - Konstantin Orlov.
All the members of the team are experienced participants of the fintech industry. Gregory Klumov and Anatoliy Knyazev are some of the first bitcoin investors who are also the people behind the Bitcoin Fund hedge fund - one of the most profitable hedge funds in history.
The project is currently placed in Malta. It was collaborating with the government of Malta for more than 7 years now and provided it with consultations on the cryptocurrency industry. Malta is one of the countries that are famous for their efficient tax policies and technological progress. The Stasis project is fully compatible with Malta’s legal framework, most notably - under the Malta’s Virtual Financial Asset act.
STASIS EURO (EURS) price and market performance online via COIN360:
The main feature of the Stasis Eurs token is its ability to tokenize not only the national currencies, but also various securities and other assets. It means that the project’s fund consists of both currencies and securities making it easier to collect a value high enough to provide new tokens.
The EURS token is a EIP20 standard token. EIP is a standard of the Ethereum platform that stands for Ethereum Improvement Proposal. It is a technological solutions that is yet to become implemented on the platform, but is developed enough to be considered to become a new standard. EIP20 standard was implemented on the Ethereum platform after a number of reviews and edits.
According to the Ethereum’s GitHub, EIP 20 standard allows for the implementation of a standard API for tokens within smart contracts. This standard provides basic functionality to transfer tokens, as well as allow tokens to be approved so they can be spent by another on-chain third party. It allows users to work with delegated payments without the need to pay GAS-based fees.
EURS token is not minable.
STASIS exchange community allows you to find the best option for trading EURS for another digital asset or selling it for fiat currency. EURS is listed on exchanges covering various geographies from Singapore to the United Kingdom. Some of the exchanges are token only, meaning the KYC procedures are light and friendly, while others are licenced and regulated with heavier KYC processes, providing a more reliable service for corporate and professional traders. EURS is listed on the following exchanges:
- Kyber Network
The company started its activity in 2018. The concept of the platform was developed in the first quarter of the year and the emission happened in the third quarter. However, the company’s members were active participants of the cryptocurrency industry and Malta’s digital currency regulations for over 7 years before the legal establishment of the Stasis company. The company’s plan on 2019 include security audit of the Stasis Wallet source code, wallet multi signature for both Ethereum and Bitcoin and being listed on regulated digital asset exchanges.