STASIS Q1 Milestones Report
Check out the new summary of our latest achievements
Missed us, dear clients? We’re back! Instead of the usual Month in Review digest, where the team behind STASIS and EURS shares our updates from the past month and some thoughts on key events and issues in the cryptocurrency and stablecoin space, we decided to come up with a full-scale review on the last few months and give you a broader outlook on our current accomplishments. Enjoy reading!
As for the future, the Month in Review will still be distributed each month initially as a newsletter. You can sign up to receive it here.
The Great Shift Onwards. What’s next: Web 3 or WW3?
Exactly two years ago, the world faced an extraordinary test of strength and endurance. Once-a-century pandemics have hampered the businesses, plans, and dreams of ordinary Joe. Today, the world stays at the very gates of unforeseen consequences and inevitable outcomes. The situation is critical and the world’s sentiment is exceptionally negative.
As the world transcended into 2022, everyone was expecting another Xmas miracle to happen and uplift their profits in crypto to unprecedented heights. However, miracles are quite rare these days.
The digital asset field is a chaotic realm, and grasping the power play under the lines takes a lot of time and effort while being rarely rewarding. The reality check during the winter months helped many traders get back to Earth.
Despite the firm’s winter’s severe volatility, the latest Visa survey indicated that 25% of small businesses are ready to start accepting crypto in 2022. Global credit giant states that nearly a quarter of small and micro enterprises plan to begin accepting crypto assets as payments this year.
In the meantime, Bank of America crypto strategists said stablecoin adoption and CBDC are ‘inevitable’. The United States will finally be moving forward to create its own central bank digital currency in the form of the CBDC. Crypto strategists Andrew Moss and Alkesh Shah wrote in a Monday note that CBDCs “are an inevitable evolution of today’s electronic currencies,” according to a Bloomberg report.
Up or down, Bitcoin’s most hardcore fans, MicroStrategy, will continue investing in BTC no matter what. Although the value of this blue chip has fallen significantly in recent months, the company intends to continue investing in the digital asset, despite a recommendation by the U.S. securities agency to amend the company’s disclosure in future filings.
Decentralized Finance took a serious hit alongside the crypto market as one of the worst and most surprising scandals in DeFi took place in January, when one of the revelations was too shocking to be true. Wonderland CFO Michael Patryn, treasury manager for the decentralized finance protocol Wonderland, turned out to be a former convict who co-founded the defunct Canadian exchange QuadrigaCX, another big-time crypto-hustle crime story. The perspectives of the investor-praised platform became blurry after that.
The DeFi sector has literally taken off into space the past year — crypto staking rates are often high and can exceed 20%. Against the backdrop of near-zero Fed rates, this is more than attractive to traders. Hacks and exploits are inevitable followers of any emerging ecosystem. Since the beginning of the year, two major hacks have already taken place:the Qubit DeFi ($80 million) and Wormhole ($320 million) platforms.
Moreover, the largest in known history attack on DeFi took place in late March as the Ronin bridge and Katana Dex have been halted after suffering an exploit for 173,600 Ethereum (ETH) and 25.5 million USD Coins (USDC), worth a combined $612 million at current prices! The developers said they are “currently working with law enforcement officials, forensic cryptographers and our investors to make sure that all funds are recovered or reimbursed.
Traditional finance regulators can easily use this to win their case against innovative industry directions. Despite all the damage done to the industry’s reputation up to date, DeFi is here to stay, but events like this will undoubtedly impact the perception of transparency in the space.
We are here to guarantee that your on/off-ramp and journey in crypto won’t be impaired by volatility or questionable shady experience!
Considering the currently ongoing events as well as our global and diverse audience, we would like to express our support to the people whose lives have been affected by the war conflict. Our team is highly disturbed by the ongoing crisis on European soil and the resulting casualties.
We also hope that the current military crisis will be ended with minimal damage and devastation to the civilian population. We will continue to support our employees and clients to the best of our capacity, remaining an oasis of stability in turbulent times. We will march through it, coming through tougher and stronger after all the events. Peace to everyone!
JOIN THE STASIS TEAM!
Are you a long-time client of STASIS? A satisfied EURS user? A convinced stablecoin fan? Do you want to join a growing, vetted, professional and experienced team behind the largest crypto-euro? That’s your chance! We’re currently looking for a talented and experienced business developer. Feel confident enough to join? Apply now to corp@stasis.net right away!
Project News
The STASIS team worked as business as usual to ensure smooth operation of our services, new partnerships and integrations. There is much more substance to the topic than meets the eye. The iron is hot and it’s time to unravel the news!
- STASIS x Ripple
STASIS to Issue Euro Stablecoin on the XRP Ledger. The largest multi-chain euro-backed stablecoin is now coming to XRPL! EURS is the leading euro stablecoin and among the top 10 stablecoins globally. Ripple will provide STASIS with the technical support necessary to integrate EURS with XRP Ledger in H2 2022.
- STASIS x Wirex
Over volatility? Wirex is introducing the largest euro-backed stablecoin in the world, EURS! Buy & exchange EURS in-app at unbeatable OTC rates or seamlessly spend it at 54 million retailers with your Wirex card. Learn more about the partnership.
- EURS on AAVE3
DeFi protocol Aave has announced the launch of V3, marking a significant evolution on the existing model of liquidity pools by promising to improve financial efficiency, bolster current safety and security measures, foster greater decentralization via DAO development and enhance the user-interface design.
We are also celebrating this important milestone as EURS has officially made its way to the Aave protocol following a highly successful governance vote last week.
Head to http://app.aave.com and check Polygon market. Have a profitable day in DeFi!
- STASIS x Mt Pelerin
We are pleased to announce that Swiss-based platform Mt Pelerin now offers on and off-ramp for EURS. STASIS-issued stablecoins can now be exchanged seamlessly with their fiat counterparts on Mt Pelerin’s website and mobile app Bridge Wallet on Ethereum and Polygon!
- Algorand Mobile Wallet Support
The STASIS Team is happy to make another gift to our community in 2022. We continue to further develop our STASIS Wallet by introducing additional functionality.
Worth Reading
Check out the fresh summary of STASIS in press:
- Cointimes: New euro stablecoin will use XRP
- Crowdfund Insider: STASIS Says it Will Issue Euro Stablecoin Using XRP Ledger, Ripple to Provide Tech Support
- Syndication to: Newsbreak
- Finance Magnates: STASIS Announces Plan to Issue Euro Stablecoin on the XRP Ledger
- iHodl: XRP Ledger Adds Support for Euro Stablecoin
- PYMNTS: STASIS to Issue Euro Stablecoin on XRP Ledger
- The Crypto Basic: Stablecoin Issuer STASIS to Launch Digital Euro on Ripple’s XRPL, Ripple To Provide Tech Support
- Rising Candle: Stasis to launch digital Euro on Ripple’s XRPL later this year
Next Steps
We are pleased to meet you in 2022! Thanks for reading this letter and staying with us!
We started this year with hard work and dedication since quality is one of our defining features. Our work has proven to be essential to the community, so there was no second guess — we remained in operational mode despite the holiday season.
Subscribe to Monthly Stablecoin Digest to stay updated on what’s coming in the crypto world, and read our “Month in Review” to read the 4-week summary of our accomplishments!
Discord is becoming a primary destination for the crypto geeks and DeFi community. Try this popular app! Let’s stick together: join the conversation on Discord ➡️ https://discord.gg/fRFqtYxv.
Moreover, make sure you subscribe to our socials on Telegram, Facebook, Twitter, and LinkedIn to stay tuned to what we’re up to!
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