SEUR is a crypto-backed euro stablecoin. It has about $1.3M in circulation, ranking #208 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What is SEUR?
SEUR is a crypto-backed euro stablecoin. It has about $1.3M in circulation, ranking #208 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: Synthetix is a protocol for issuing and trading synthetic assets on Ethereum. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example each sEUR token tracks the price of the Euro.
SEUR supply history
SEUR supply was flat over the past 30 days. Its peak was $157M in June 2021, and supply is 99% below that high.
Is SEUR holding its peg?
SEUR is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where SEUR lives: supply by blockchain
Supply is concentrated: Ethereum holds 100% of all SEUR. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How SEUR is backed
SEUR is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: An SNX holder can mint sEUR by locking their SNX as collateral via the Synthetix smart contract. sEUR can be burned to swap to another synthetic asset or to repay the debt to retrieve the collateral.
SEUR risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
With $1.3M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
SEUR vs USDT and USDC
Similar crypto-backed stablecoins
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SEUR FAQ
What is SEUR?
SEUR is a crypto-backed euro stablecoin. It has about $1.3M in circulation, ranking #208 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is SEUR pegged 1:1 to the euro?
SEUR targets 1 EUR. At the last update it traded at €1.0005, a deviation of +0.05%, which we classify as "on peg".
What backs SEUR?
SEUR is a crypto-backed stablecoin. SEUR is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is SEUR on?
SEUR is live on 2 blockchains. The largest by supply are Ethereum ($1.1M), OP Mainnet ($3K).
How much SEUR is in circulation?
About $1.3M of SEUR was in circulation at the last update, 0.0% over 30 days. That makes it the #208 stablecoin by supply among those we track.
Is SEUR safe?
No stablecoin is risk-free. As a crypto-backed design, SEUR's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.