Angle Protocol Winds Down EURA and USDA Stablecoins After Community Governance Vote

TLDR:

• Angle Protocol’s AIP-112 vote approved an orderly wind down of both EURA and USDA stablecoins.
• EURA and USDA holders can redeem tokens 1:1 for EURC and USDC until March 1, 2027, on Ethereum.
• Remaining reserves after redemption will be airdropped pro-rata to eligible Ethereum-based holders.
• The Angle team now operates Merkl, a leading DeFi incentive platform, as their primary focus.
  

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Angle Protocol is officially winding down its EURA and USDA stablecoins following a community governance vote. The decision, passed under AIP-112, brings the decentralized stablecoin project to a close.

Holders of both tokens have a structured, two-year window to recover their funds at full value. The team now focuses on Merkl, a DeFi incentive platform, as its next major project. Acting quickly remains the most important step for all current holders.

What Holders Need to Know About the Redemption Period

The wind-down plan begins with a one-year redemption period running until March 1, 2027. During this time, EURA holders can redeem their tokens 1:1 for EURC on Ethereum.

USDA holders can redeem 1:1 for USDC through the Angle Transmuter on the Angle App. Holders on other chains must bridge their funds back to Ethereum before initiating any swap.

Angle Protocol has been clear about what happens if holders miss this window. After March 1, 2027, the protocol will cease active operations entirely.

Both EURA and USDA are expected to depeg once the redemption mechanism is turned off. Taking action well before the deadline is the safest course for current token holders.

VaultManager position holders are included in the redemption plan as well. They can close their positions and recover collateral during the active period.

All actions must be completed through the Angle App on Ethereum. No other platforms or channels have been announced for these transactions.

The team confirmed the decision through their official channel, noting: “the Angle community has voted in favor of an orderly wind down of the EURA and USDA stablecoins (AIP-112).” This confirms the move was driven by formal governance, not a unilateral team decision.

Final Settlement and the Extended Claim Window

After the redemption period ends, the protocol moves into Phase 2 for final settlement. The guardian multisig will recover all reserves remaining within the protocol at that stage.

Those reserves will then be distributed pro-rata to the EURA and USDA holders still on Ethereum. Only holders who have bridged back to Ethereum before this stage will qualify for the distribution.

The airdrop will be executed and distributed through Merkl, the incentive platform run by the Angle team. After the airdrop goes live, recipients will have one additional year to claim their EURC or USDC.

Claims can be made directly through the Merkl platform during this period. Together, both phases create a total two-year window for holders to recover funds.

The reasoning behind the wind-down traces back to declining activity on Angle Protocol stablecoins over time. The team noted that yield-bearing stablecoins now exist natively across vaults and lending protocols available everywhere.

Running dedicated infrastructure for a shrinking user base creates unnecessary smart contract risk. Operational overhead with little benefit to a diminishing community was another factor in the decision.

The Angle team now builds Merkl full-time and encourages the community to follow that project. Holders are advised to act early and not delay until deadlines approach.

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