Register Asset xcEURC.s (bridged Circle's EURC) from Pendulum Chain

XCM/HRMP XCM Proposals
1

Pendulum XCM Disclosures

TL:DR

Register Asset xcEURC.s from Pendulum Chain

Summary

This proposal requests the registration of EURC.s asset as xcEURC.s, with the following details:

  • Multilocation: { parents: 1, interior: { X5: [ { Parachain: 2094 }, { PalletInstance: 53 }, { GeneralIndex: 2 }, { GeneralKey: { length: 4, data: 0x4555524300000000000000000000000000000000000000000000000000000000 } }, { GeneralKey: { length: 32, data: 0xcf4f5a26e2090bb3adcf02c7a9d73dbfe6659cc690461475b86437fa49c71136 } } ] }}
  • Decimals: 12
  • Name: Circle EURC (Stellar)
  • Symbol: xcEURC.s

xcEURC.s will have the following asset ID and XC-20 address:

  • Asset ID: 220698173844663170714431919474506717455
  • XC-20 address: 0xffffffffa608ec1332131289cbd8a97a0bb3d90f

Use Cases

Bringing the most trusted regulated and MiCA compliant EUR token to Moonbeam community, would enable various use cases like:

  1. Option for the community to hold a euro stablecoin.
  2. Currency trading and risk hedging — between USDC and EURC.
  3. Lending and borrowing on dApps.

On-Chain Proposal Reference

On-Chain Proposal #[__] with the associated hash:

Technical details:

This proposal just registers Circle’s EURC (Stellar) token as xcEURC.s, as HRMP channels with Pendulum are already established.

0x690000010500b92004350508060445555243000000000000000000000000000000000000000000000000000000000620cf4f5a26e2090bb3adcf02c7a9d73dbfe6659cc690461475b86437fa49c711364c5374656c6c617220436972636c652045555243187863455552430c000100000000000000000000000000000001
2 Likes
2

:heart: Expanding user base and target audience to Europe.

SatoshiPay is currently using the token for instantly selling crypto and receive EUR in a bank account (with Instant SEPA) in their app.vortexfinance.co

I see additional utilities for Moobeam protocols to support that journey (DEX, lending)

1 Like
3

Interesting one. Could you describe the liquidity deployment plan here? Will you create a stable/stable pool or rather a GLMR/EURC pool?
If so, on Stellaswap?

Thanks!

1 Like
4

We’re in discussion StellaSwap to define the liquidity plan here. The idea is to start with a stablepool with USDC.
This pool could then be used by apps like Vortex, to identify the better FX rate for the end users.

1 Like