Proposal to list EUROC/USDC pair and to Incentivize the Pool


On June 16th Circle Internet Financial, “Circle,” announced that it was entering the world of foreign stablecoins and would soon begin issuing Euro Coin, “EUROC,” which would be pegged 1:1 to the euro with reserves held in custody at Silvergate Bank. EUROC will be issued and transferable on the Ethereum blockchain as an ERC-20 standard token.

This is a proposal to create and add a EUROC/USDC to the “Ethernet Pools” offered by DFX, and to incentivize that pool.

The monthly DFX rewards allocation for stablecoin pools is allocated per currency, not per stablecoin. In other words, the 81,755 DFX tokens to be received by the EURS/USDC pool is actually 81,755 allocated to the euro. Because EURS was the only euro stablecoin, it received all of the rewards. Thus, by default, adding a second euro stablecoin (EUROC) would split that reward in half, to be equally shared by the two coins.

It is my proposal that we go one step further and fully support our partners at Circle. I am proposing we allocate all euro rewards to the new EUROC/USDC pool this proposal would create, effective July 1, 2022, and discontinue incentivizing the EURS/USDC that same day.

Being that this is a unique proposal, there will be three options on which to vote:

  • Option 1: YES – Create a EUROC/USDC pool and allocate all euro rewards to the EUROC/USDC pool.

  • Option 2: YES – Create a EUROC/USDC pool but allocate only 50% of the euro rewards to the EUROC/USDC pool.

  • Option 3: NO – Do not create a EUROC/USDC pool.

Because DFX’s mission is to bring stablecoins to the world, it is only appropriate that EUROC be available on the DFX protocol. EUROC is expected to quickly become the most traded foreign stablecoin in the world. DFX has found great success and ease of use with Circle’s flagship token, USDC, and expects EUROC to bring that same level of usability and legitimacy found with USDC. By incentivizing the pool out of the gate, we are acting aggressively to be sure new adopters of the EUROC have a clear place to put their stablecoins to work earning substantial APY.


  • The euro is the second largest fiat currency in the world.

  • Based on a study by the Bank of International Settlement, the euro was on one side of 32% of all currency trades worldwide.

  • The Euro Coin is issued by the most trusted name in the entire cryptosphere – Circle.

  • DFX has long supported Circle’s USD stablecoin, USDC, without issue. Circle CEO Jeremy Allaire has a history of publicly supporting DFX, and we should be happy to create a new pool supporting EUROC and continuing to support Circle.

  • Building out trusted currency pairs on DFX, such as EUROC/USDC, supports and increases the utility of the protocol.

  • Incentives are the best way to encourage users to help build the protocol’s TVL in the early stages of growth.

  • This helps further bootstrap dfxEUR, our native stablecoin.


Contract address:

Official Website


  • EUROC is a stablecoin pegged to the 2nd most traded currency worldwide

  • The utility of DFX increases as more asset pairs are tradeable

  • EUROC will bring legitimacy to the field of foreign stablecoins. Being that DFX’s slogan is “Stablecoins for the World,” it is only fitting that the soon-to-be world’s largest foreign stablecoin has a proper home right here on the DFX protocol.

  • Supporting EUROC provides the opportunity to attract additional users to the DFX protocol from Europe, a global financial hub with a strong interest in cryptocurrencies

  • Each EUROC is backed 1:1 by euro reserves held at a United States regulated bank.

  • We would be the first and only protocol to offer easy swapping and trading for EUROC.

  • Jeremy Allaire is a long-time public supporter of DFX and one of the most trusted names in the field.


  • EUROC is a new stablecoin.

  • We would no longer incentivize the EURS/USDC pool if Option 1 is adopted.


  • Euro Coin (EUROC) is a regulated stablecoin bound to the euro issued by Circle Internet Financial.

  • EUROC is a payment token, issued and transferable on the Ethereum blockchain as an ERC-20 standard token and pegged to the euro in a 1:1 ratio.

  • Each EUROC token will have an equivalent euro-denominated reserve held in custody at Silvergate Bank

  • DFX should create a EUROC/USDC pool to make EUROC available on the DFX protocol.

  • DFX should incentivize the use of that pool immediately by reallocating the entire amount we currently apportion to the euro (81,775 DFX per month) to the EUROC/USDC pool.

  • Option 1: Yes (Create EUROC/USDC LP and allocate All Euro rewards)
  • Option 2: Yes (Create EUROC/USDC LP and allocate 50% Euro rewards)
  • Option 3: No (Do not create a EUROC/USDC LP)

0 voters


I trust Circle more than any other financial company when it comes to Stablecoins.
USDC has proven itself time and time again. EUROC will do the same.
My vote is with Circle and EUROC 100%.


Move over to EUROC :ok_hand:t2:


Cannot go wrong with CIRCLE. And it will be supported on Polygon in the future.