🟥 Big news: @SocieteGenerale enters DeFi In the coming days, it will be possible to deposit euro stablecoin (EURCV) in a @MorphoLabs vault to generate yield This is the first time that the crypto subsidiary of the French bank (SG-FORGE) makes it possible to use its stablecoin in a DeFi infrastructure (built on Ethereum) Let me quickly explain how it works This "vault" is a storage available on the Morpho protocol, managed by the asset manager @MEVCapital 👉 Objective: optimize yields in euro The deposited EURCV is lent to generate interest. The idea is to provide a yield alternative for those holding euro stablecoins. The level of yield is not yet known (but we will know very soon). 👉 Counterparties (accepted collateral) On the other side, borrowers who want to obtain these EURCV must provide guarantees, meaning assets approved by the stakeholders. In this case: -BTC (bitcoin) - wstETH (staked ether) - EUTBL: European Treasury bonds tokenized by the startup...
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