This is not an official proposal per se but more a form of poll to gauge the interest of the Yearn community about payments. I know payments are so far done in DAI and YFI, but with a non negligible share of the team based in Europe, I was wondering to what extent there’d be any interest for Euro payments at Yearn and by extension have a small share of the treasury invested in € assets, or in yield bearing € assets like stEUR. The exchange risk can be a shame when your home currency is not the one you’re doing for payments.
I’m Pablo from Angle and obviously biased on this subject as we’re developing agEUR, but the € stablecoin market has been maturing quite a lot recently.
Even if it remains small, it’s now possible to earn savings yields as well on Euro stablecoins like agEUR. Gnosis Pay is coming as well and soon you’ll be able to start seamlessly spending € stablecoins with a credit card.
I understand the traditional chicken and egg problem faced by stablecoins and the fact that there were really few opportunities out there or that some Europeans may trust more the $ than the €, but I believe the time may have come for some European DeFi contributors to start moving from an all $ DeFi to something which matches their home environment.
This post is an open discussion and I’m genuinely curious to hear feedback from you guys!
Short questions being:
- would you guys prefer to be paid in € denominated assets?
- would it be worth it for Yearn as a DAO to invest in € yield bearing assets like stEUR?