Foresight News reports that the decentralized stablecoin protocol Angle Protocol has announced that the Angle community has voted to orderly liquidate the EURA and USDA stablecoins (AIP-112). Users must redeem their stablecoins before March 1, 2027, with an exchange rate of 1:1 and no loss incurred. The remaining reserves will be airdropped to holders who have not redeemed through Merkl.
The Angle team has now transitioned to Merkl, focusing on DeFi incentive platforms. Users will be able to redeem EURA and USDA on Ethereum through the Angle app within the next year, and exchange EURC and USDC at a 1:1 ratio via the Angle Transmuter on the same app. Note that after March 1, 2027, the Angle protocol will cease operations, and EURA and USDA may depeg.
The second phase of liquidation will begin after the redemption period ends, with remaining reserves airdropped proportionally to EURA and USDA holders on Ethereum. Only users who have transferred back to Ethereum are eligible to receive the airdrop. The airdrop will be distributed through Merkl. The subsequent third phase will offer an additional one-year claim period, allowing users to directly claim EURC or USDC on Merkl, forming a total two-year window for fund redemption.
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