Introduction

Eurity is a EUR fork of Liquity protocol in the Ethereum network. Eurity has core features and benefits consistent with the Liquity protocol.

Core Features

• 0% interest rate -- as a borrower, there’s no need to worry about constantly accruing debt
• The minimum collateral ratio of 110% — more efficient usage of deposited collateral
• Governance free — all operations are algorithmic and fully automated, and protocol parameters are set at time of contract deployment
• Directly redeemable — mEUR can be redeemed at face value for the underlying collateral at any time
• Fully decentralized — Eurity contracts have no admin keys and operate without governance
• Token (ERTY) holders can earn mEUR (Borrowing fee), ETH (Redemption fee)
• USDC-mEUR farm incentivizes liquidity for USD-EUR on-chain exchange.

How to mint mEUR?

1. Borrow mEUR against ETH by opening a Vault
2. Help Eurity by providing mEUR to the Stability Pool in exchange for rewards.
3. Stake ERTY to earn fee revenues paid for borrowing/redeeming mEUR and transferring ERTY
4. Redeem 1 mEUR for 1 EUR worth of ETH when the mEUR peg falls below €1