You can find all our explainer videos on our Youtube page.
You can find all our explainer videos on our Youtube page.
The EURxb is an ERC20 Euro Stable coin that earns real time interest of 7% per annum for the duration of the protocol’s bond reserves’ term. The EURxb is collateralised by ISIN registered securities (green bonds) as ERC721 NFTs which is further overcollateralized (at a rate of 133%) by tokenized ERC721 NFT security assets.
At launch you can purchase EURxb tokens by using either the Balancer or Uniswap pools. Liquidity is provided at launch through our community and partners and includes stable coin pairs USDT, USDC, DAI and BUSD.
XBE is the governance token for the EURxb protocol. XBE will be fairly launched to all liquidity providers of both the Uniswap and Balancer pools and the entire circulating supply will be distributed within the first 7 days of launch to all liquidity providers. Only 15,000 XBE tokens will be issued, and 3,000 of that will be available for the community (holders of the other 12,000 XBE) to allocate through the protocol treasury to incentivise future development and improvements to EURxb.finance. No further issuance is planned. XBE entitles the holder to take part in the management and governance of the Eurxb protocol, and is designed to be a valueless token.
In order to receive XBE you will be required to provide liquidity to the EURxb pools on either Balancer or Uniswap within the first 7 days of launch. The distribution has been set to favour early liquidity providers to ensure maximum liquidity on launch day. Please note you will be required to wait until the end of the liquidity event (7 days ending ~ Wed Mar 3rd 2021 11:00:00 GMT+0000) before withdrawing your deposited LP tokens. At the end of the liquidity event, you will be able to withdraw your liquidity AND earned XBE rewards.
To further assist liquidity providers we have provided an atomic swap contract allowing for fixed rate swaps until the total amount has been used in the contract. This allows LPs to only provide one side of the liquidity at launch (USDT, USDC, DAI and BUSD). The atomic swap contract will automatically swap the deposited amounts at the fixed rate and deposit it into the respective pools.
More information on the atomic swap contract can be found below.
More information can be found using our guide here.
The rate of the atomic swap contract is 1.21 USD/EURO
As EURxb has no investors and is fairly launched, anyone is able to provide liquidity and in turn earn their share of XBE.
The full circulating supply of XBE will be distributed over 7 days starting on the launch of the protocol. The distribution has been configured to favour early liquidity provision to incentivise liquidity supply at launch. The total circulating supply of XBE is 15,000.
Each of the 4 pools will receive 3000 tokens distributed over a 7 day period, and the protocol treasury (controlled by governance) will be assigned the remaining 3000 tokens.
Please note you will be required to wait until the end of the liquidity event (7 days ending ~ Wed Mar 3rd 2021 11:00:00 GMT+0000) before withdrawing your deposited LP tokens. At the end of the liquidity event, you will be able to withdraw your liquidity AND earned XBE rewards.
At launch you can deposit one of the following tokens as liquidity to the EURxb pools; USDT, USDC, BUSD & DAI, on either Uniswap (BUSD,USDT) or Balancer (DAI, USDC) or through our Atomic Swap module explained here.
Yes, your liquidity in the pools will be locked for the 7 day from the start of Liquidity Event and XBE distribution. You will be eligible to withdraw both your liquidity and XBE rewards at the end of the liquidity event on ~ Wed Mar 3rd 2021 11:00:00 GMT+0000 This is to ensure that liquidity cannot be pulled during the XBE distribution event.
If you complete the statutory requirements to register as a bondholder on the bond issuing marketplace, the answer is Yes. At maturity of the protocol’s bond reserves, EURxb holders will be eligible to exchange their EURxb tokens with the issuer. Please note that this process holds mandatory KYC and AML processes dictated by the issuing authority. Some issuers, (like EURxb.finance’s launch issuing partner Miris AS), provide an incentive for bond holders to rebate their bonds at a 15% discount for equity in lucrative projects as an alternative to being paid out at maturity - however you always have the option of taking the full value in FIAT (as a bondholder) or stable coin.
At the discretion of the issuer you may be entitled to use your EURxb to purchase some of protocol’s bond reserves prior to their maturity. Please note that this process holds mandatory minimums (one million EURxb), KYC and AML processes dictated by the issuing authority and is done entirely at the discretion of the issuer.
Yes, eligibility for registration to become a direct bondholder of a share of EURxb.finance protocols’ bond reserves is limited to holders with 1,000,000 EURxb or more.
EURxb.finance is proud to have partnered with Miris AS as the first reserve issuer for the launch of the EURxb protocol. Our focus is to ensure that all 5 x 100m tranches of bonds issuances and institutional purchases are deployed smoothly and that there is fair access and opportunity for both the DeFi community and the Institutional Investors committed to the underlying bonds. Future partnerships will be decided by the community in order to ensure the EURxb.finance protocol is a true DeFi initiative, however the founding team intend to continue to do the same work in bringing institutional funds into DeFi and hope to work with the community on several more EURxb token releases.
The EURxb Security Asset ERC721 NFT represents a call against the collateral backing the protocol’s bond reserves, and is locked into EURxb’s Bond Smart Contract that mints a linked EURxb Bond ERC721 NFT. This token represents a bond subscription to the ISIN Registered Security and is in turn locked into the EURxb Euro Smart Contract to generate the EURxb stable coin - which appreciates at the bond interest rate (normally 7% per annum). This means that each Bond NFT’s value is overcollateralised at a security/debt ratio of 4:3 with the value of a counterpart Security Asset NFT, and that the EURxb stable coin is always backed by tokenised ISIN Registered Securities as reserves.
At maturity, the EURxb stable coins that are in circulation have to be bought back by Bond Holders from the market, to be repaid into the EURxb Euro Smart Contract before unlocking the Bond ERC721 NFT token. The Bond NFTs must then in turn be bought back by the issuer, with the principal and interests due to the NFT holder (per the issuer’s contracted bond agreement terms) in order to settle the issuer’s legal liability. Should a bond holder be unable to pay back the EURxb tokens to the Euro contract, their Bond NFTs will remain locked and they will be unable to lay claim to the principal and interest repayment until it is unlocked. It is likely that some EURxb stable coins will remain in circulation after the 4 year maturity date, and therefore these will remain secured by Bond ERC721 NFTs - which will then become backed by the paid out principal and interest from the bond maturity (which can be called upon at any later stage), as the Security Asset ERC721 NFTs is updated to reflect these funds (at 1:1 value with the Bond ERC721 NFT) as opposed to the original over collateralized security - and simply cease earning interest but still be fully backed by secured reserves.
In the unlikely event that the ISIN Registered Bond Issuer fails to abide by the respective ISIN compliance terms at any time, or make due payment on the notional (principal) and interests due, EURxb.finance requires that an issuer stipulate in their Bond Contract that the claim of the Bond NFT and Security Asset NFT holder is prioritised over any other. Therefore should a liquidation action (or any other) occur to settle the Bond principal and interest, the Bond NFT holder will receive the first proceeds on the sale of the security collateral as tokenised by the Security Asset NFT in line with market regulations, ensuring that the EURxb stable coin value is secured.
The team at EURxb recognizes the limitations when introducing a new asset into the free market and as such the entire system is designed to empower users of the protocol to gain access to not only the interest bearing EURxb but also the governance token XBE through sufficient liquidity pools.
The atomic swap contract is designed with this in mind, by offering liquidity providers the ability to simply provide one of the supported assets at launch (USDT, USDC, DAI and BUSD). Once a liquidity provider deposits supported assets into the atomic swap contract (router) the contract will split the funds 50/50 between the deposited asset and EURxb at a fixed interest rate. This rate is set at launch and will not be changed, allowing DeFi users to take advantage of any arbitrage that may occur. The contract (router) will then deposit these assets into the relevant pool and then stake the LP tokens into the XBE rewards contract allowing for the LPs to be rewarded in XBE. This process is a 1 click process that is automatically executed by the atomic swap contract.
An example can be found below:
Eg. As a new liquidity provider I wish to provide 1000 USDT worth of liquidity. I deposit 1000 USDT into the atomic swap contract (found on app.eurxb.finance). The contract splits my funds into 500 USDT and 413.20 EURxb (500 USDT worth of EURxb at an example fixed rate of 1.21 USD/EURO). The router then automatically deposits both the USDT and the EURxb into the Uniswap USDT pool and then further stakes my LP tokens in the XBE rewards contract. This enables me to be rewarded in XBE during the launch phase.
In order to provide liquidity or capital to the EURxb pools, users should provide two tokens in proportional amounts (for equal value) in order to ensure there is enough liquidity on either side of a pool. E.g. 50% value in EURxb and 50% value in DAI, to maintain a balanced VALUE of both trading pairs.
We have made it easy for those of you who only have one asset at the launch of the protocol (supported assets are USDT, USDC, DAI and BUSD), by providing an Atomic swap contract, that will automatically split your liquidity into two equal parts, i.e. 50% EURxb and 50% USDT/USDC/DAI/BUSD depending on your preference.
As the annual yield is derived from the underlying bond you are able to earn the 7% per annum by simply holding it in your wallet. However there are additional yield enhancement products currently being tested including the first EURxb institutional vault and the EURxb vault (for normal DeFi users).
The additional potential yield comes from locking up your EURxb in the vaults, where XBE holders vote on different yield strategies that are then implemented and generate varying additional yields in the DEFI space.
The first EURxb institutional vault is a unique product spearheaded by the EURxb team in which it allows for transparent and regulated access of institutional funds to the world of decentralised finance - with an expectation of only 5% APY (in addition to the passive 7% per annum yield of each EURxb token). Any surplus above the 5% is distributed to the holders of the protocol’s governance token XBE.
Please make contact with the EURxb team to assist at firstname.lastname@example.org.
The lockup period is for the entire duration of the liquidity event and ends ~ Wed Mar 3rd 2021 11:00:00 GMT+0000 and lasts for 7 days from the start. You will be permitted to withdraw your liquidity and XBE rewards at the end of the liquidity event.
Please make contact with the EURxb team to assist at email@example.com.
Yes, the protocol’s reserves are secured through a legitimate bond in the form of a registered security that can be transparently verified through the following ISIN number: NO0010912843. Further to that the term sheet and bond agreements can be confirmed.
USDT Pool address: 0x8D8dA72161da2d800EbDD2a316214EAc7C32FCa0
BUSD Pool address: 0xcBE190C83c34c68d80933eDd8C43ba2FC698fF93
USDC Pool at address: 0x58Ce2E98A050925D99b209799D10f413C729F6fc
DAI Pool at address: 0xc34473cCac5E14a4b7Bf558D41477a05976E670c
Uniswap USDT Pool address: 0x8D8dA72161da2d800EbDD2a316214EAc7C32FCa0
Uniswap BUSD Pool address: 0xcBE190C83c34c68d80933eDd8C43ba2FC698fF93
Balancer USDC Pool at address: 0x58Ce2E98A050925D99b209799D10f413C729F6fc
Balancer DAI Pool at address: 0xc34473cCac5E14a4b7Bf558D41477a05976E670c
The EURO based stable token uses the ticker EURxb. The governance token for the EURxb.finance protocol uses XBE.
XBE is a valueless token, launched freely to all liquidity providers during the launch phase.
While the EURxb.finance protocol is entirely community owned, the launch team will endeavour to have EURxb listed on as many exchanges in order to provide sufficient liquidity.
No minimums are set on the EURxb purchase, however maximum will depend entirely on the circulating supply.
Thresholds do further apply when registering for eligibility as a bondholder at the appropriate time and through the appropriately accepted channels.
The bond reserves that ensures the EURxb it’s value, are Euro denominated Green Bonds that were issued by the first debt issuer (Miris AS). These bonds are overcollateralized by a ratio of 4:3, and are ISIN registered and audited financial instruments. The bonds provide an annual fixed yield of 7%, which is how the EURxb tokens are able to provide a fixed interest of 7% per annum - as they are overcollateralized, digital “fractionalisations” of the secured bond instruments.
Short answer, no. The interest earned from EURxb while in the pools will be earned by the pool itself and not the owner of the tokens. Unfortunately, the reason for this is due to how the pools work on Uniswap and Balancer.
We are however currently working on a module to ensure LPs do gain the interest as well as the fees. This module will be released the moment the audit is completed.
To avoid a rounding error when funding these pools, these contracts will return ~ less than 1% of the deposited funds split between the originating asset and EURxb.