ChainThink News, March 4: The decentralized stablecoin protocol Angle Protocol has announced that the Angle community has voted to orderly liquidate the EURA and USDA stablecoins. Users must redeem their stablecoins by March 1, 2027, at a 1:1 exchange rate with no loss. Any remaining reserves will be distributed via Merkl airdrop to holders who have not redeemed.

The Angle team is currently developing Merkl, a DeFi incentive platform. Users can redeem EURA and USDA on Ethereum through the Angle app within the next year, and can exchange them 1:1 for EURC and USDC via the Angle Transmuter within the same application. Note that after March 1, 2027, the Angle protocol will cease operations, and EURA and USDA may become uncoupled from their peg. The second phase of liquidation will commence after the redemption period ends, with remaining reserves distributed proportionally to Ethereum-based EURA and USDA holders. Only users who have migrated back to Ethereum are eligible to receive the airdrop, which will be distributed through Merkl. The third phase will provide an additional one-year claim window, allowing users to directly reclaim EURC or USDC on Merkl, resulting in a total two-year redemption period for funds.