Methodology

• Function Signature Supply and Borrow credits to Ali *

• Find all the Euro Stable coin token contracts from the Polygon Documentation. *

• Three tokens being analyzed are

  '0xe0b52e49357fd4daf2c15e02058dce6bc0057db4', -- AGEUR
  '0xe111178a87a3bff0c8d18decba5798827539ae99', -- ERUS
  '0x4e3decbb3645551b8a19f0ea1678079fcb33fb4c' --  JEUR
  

Before and After 13 July

Number of Transactions

• The number of transactions actually saw a decline in the weeks after 13 July when the Euro reached parity with USD.
• We did a spike right in the week before the parity where we saw around 120 transactions for supply and borrow, about 100 came from borrow.

Number of Wallets

• The number of wallets actually saw an increased activity in the weeks after 13 July when the Euro reached parity with USD.
• After the parity we saw a slight increase in the borrowers as well as suppliers.

Token Amount

• The amount supplied or borrowed did not see much change before or after July 13.

Average Token Amount

• The average amount also did not see much change in supply or borrow after July 13.

Token Analysis

Number of Transactions

• AGEUR accounted for the most number of transactions, i.e 381 all for borrowing, followed by JEUR with 175 for borrowing.
• We see very few transactions for supplying Euro Stable coins.

Number of Wallets

• AGEUR accounted for the most number of wallets, i.e 151 all for borrowing, followed by JEUR with 111 for borrowing.
• We see very few wallets supplying the Euro Stable coins.

Token Amount

• Even though AGEUR is more popular amongst users in terms of transactions or amounts, JEUR borrows are quite close to the AGEUR borrows, with 636K and 531K respectively.

Conclusion

• AGEUR and JEUR, seems to be the only 2 stable EURO coins being used right now, however there is not much activity for these coins on AAVE.
• Things should improve with time as we start to see more people get aware of these stable coins.