dEURO, issued by the dEURO Protocol smart contracts under the governance of nDEPS protocol-share tokenholders, is an over-collateralized Euro-pegged stablecoin that maintains a soft parity of 1 dEURO to one Euro (EUR) through economic incentives. [S1][S2][S3]

Each dEURO tracks the Euro (EUR) and is minted by users who deposit volatile crypto collateral such as BTC or ETH into positions, paying a non-refundable upfront interest fee to the equity reserve pool. [S1][S3] Tokenholders may lock dEURO in a Savings module to earn interest funded internally by borrower payments, advertised at approximately 10% APR. [S1][S4] The peg is maintained through overcollateralization, a withheld borrower reserve, and an equity pool absorbing losses. [S3][S5]

The informational website and documentation are operated by the dEURO Association, registered in Zug, Switzerland, but the protocol itself has no central issuer or controlling entity. [S6][S7] dEURO does not represent a claim toward an issuer and does not formally qualify as a security under Swiss law. [S8] The protocol positions dEURO as a crypto-asset under the Markets in Crypto-Assets Regulation (MiCA) for which key provisions are stated not to apply absent a central issuer. [S1] Minting is permissionless. [S1] There is no issuer redemption guarantee; minters reclaim collateral by burning dEURO plus reserve, and others exit via market sale or a 1:1 stablecoin bridge. [S1][S2][S9]

dEURO is an ERC-20 token with ERC-2612 Permit support and 18 decimals, natively issued on Ethereum mainnet where all core contracts are deployed, and bridged for payments to Polygon, Arbitrum, Optimism, and Base. [S2][S3][S4] The oracle-free protocol values and liquidates collateral through a multi-day auction process rather than external price feeds. [S3]

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    { id: "S1", url: "https://www.deuro.com/what-is-deuro.html" },
    { id: "S2", url: "https://docs.deuro.com/smart-contracts.html" },
    { id: "S3", url: "https://docs.deuro.com/overview.html" },
    { id: "S4", url: "https://www.deuro.com/index.html" },
    { id: "S5", url: "https://docs.deuro.com/reserve.html" },
    { id: "S6", url: "https://deuro.com" },
    { id: "S7", url: "https://docs.deuro.com/imprint.html" },
    { id: "S8", url: "https://docs.deuro.com/faq.html" },
    { id: "S9", url: "https://docs.deuro.com/swap.html" },
  ]}
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Stablecoins

Users mint DEURO by posting eligible crypto collateral through the protocol's permissionless auction process; the protocol earns fees on minting, interest on outstanding positions, and value accrues to governance token holders who vote on collateral types and risk parameters. There is no centralized issuer or fiat reserve manager.

dEURO issues DEURO, an over-collateralized Euro-pegged stablecoin backed by on-chain crypto collateral rather than fiat reserves. Like Frankencoin, it uses an auction-based mechanism to mint and liquidate positions without relying on external oracles, deployed across Ethereum, Polygon, Arbitrum, Optimism, and Base.

dEURO is a community-governed DeFi protocol launched as a fork of Frankencoin (ZCHF), focused on bringing a decentralized Euro stablecoin to multiple EVM blockchains.

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Stablecoin issuers

dEURO

dEURO Decentralized Euro (dEURO) is a euro stablecoin issued by dEURO.

Each token tracks one euro and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Holders can mint and redeem directly with dEURO in WBTC, cbBTC, kBTC, WETH, USDC, UNI, DAI, XAUT, and ZCHF.

dEURO has been issued on public blockchains since March 2025 and is native to Ethereum, Arbitrum One, Polygon, Base, and OP Mainnet.

dEURO Decentralized EurodEURO