$AAVE

AAVE DAO New Proposal:

Introduce EURC for Aave V3 on the Ethereum and Base chains

Author: @rickydata

Date: 2024-10-26

Summary: This TEMP CHECK proposal adds EURC or any other euro-based stablecoin.

I want to first ask a broader question: There are 8 USD-based stablecoins on Aave V3 Ethereum and 0 euro-tracking stablecoins; is there any specific reason for this? (i.e., regulation)? I live in Europe and spend in euros. It would be great if I could diversify some savings between USD and EUR, but I am surprised that there are no options on Aave. As far as I know, EURC has the same attributes as the widely adopted and very transparent USDC.

The demand for euro stablecoins across the market is growing. A post on October 25 from Our Network about stablecoins highlighted the following: As Circle's EURC supply has increased by over 40% in the past month, euro-pegged stablecoins are on the rise. Base is the main beneficiary, with the value of EURC on-chain growing from $22 million to $48 million. This coincides with Coinbase's efforts to meet MiCA compliance, which Coinbase emphasizes as its differentiator from competitors. What are Aave's lending market plans to allow any euro-based stablecoin to operate?

I am ready ✊ to support this proposal.

I will use my 1000 AAVE on-chain to vote in support!