STASIS Team opinion on upcoming “Merge” of Ethereum blockchain

With Ethereum approaching a new milestone in its development — an event scheduled to take place in mid-September — the STASIS team is looking to ensure protective measures for users to avoid any possible loss of assets during the highly-anticipated “The Merge”.

Since EURS inception on Ethereum in June 2018, the STASIS team has been actively building on it and bringing value to users. With almost $5B in transferred value and $124 million in asset capitalization up to date, EURS confidently dominates the non-dollar segment. STASIS-issued assets have undoubtedly played a vital role in facilitating the adoption of stablecoins globally. With the growing inner circle that consists of exchanges, platforms, and services utilizing EURS for real-world use cases, it ensures further progress of the Ethereum ecosystem.

We decided to temporarily stop deposit and withdrawals of Ether (ETH) and ERC-20 tokens during the blockchain’s transition to its proof-of-stake (PoS) Beacon chain in September within a specified period of time before and after the Merge takes place. The exact timeframe will be announced closer to the event.

Do note that only EURS on Ethereum chain will be affected. The functions will be put back up once we are sure that our node works securely!

A word of advice to our users: if you don’t know what to do, don’t do anything. Sometimes the best action is to wait.

Our team understands the importance of upcoming events and responsibility for our clientele, businesses, developers, and institutional-grade infrastructure connected with the leading banking, capital markets, data compliance, and custody service providers.

STASIS intends to fully support the scalability plans and Proof-of-Stake (PoS) chain after the merge. Despite EURS having transformed into a multichain asset ever since, Ethereum continues to be the most popular network for our user base.

The STASIS team anticipates the upcoming merge between Ethereum’s current execution layer with its new PoS consensus, and we do not anticipate disruptions to EURS on-chain capabilities, nor our issuance and redemption services.

The STASIS team supports the continued progress of Ethereum’s development & upgrade plans. If you are a development team building on top of EURS on Ethereum and have questions about how this impacts you, reach out to our support team via co@stasis.net.