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Price updated every 2 minutes.
Find below the answers to the most common questions about the jEUR stablecoin. When available, we give you links to in-depth articles for further reading.
The jEUR is a synthetic fiat currency, meaning that it is not backed by an off-chain reserve of fiat currencies. Instead, it tracks the price of the Euro against the price of the US dollar via a peg mechanism with the USDC, one of the biggest and most trusted USD stablecoins on the market.
Right now, 1 jEUR is worth $.
Right now, 1 US dollar is equal to jEUR.
By being linked to the USDC and redeemable with it, the jEUR directly benefits from its vast liquidity and deep integration within the ecosystem. The jEUR can therefore be used for any type of volatility-free payment or trading operations on the blockchain.
A stablecoin is a type of cryptocurrency designed to have the same value as a given fiat currency, like the US dollar. Its purpose is to let users invest in and out of volatile crypto-assets easily while remaining on chain, to facilitate crypto payments, and to denominate the price of other tokens in currencies that people are familiar with. To learn more, read our introduction to stablecoins.
The jEUR is created on Synthereum, the on-chain Forex protocol developed by Jarvis Network. It is issued through a borrowing mechanism, where anyone can deposit USDC in the protocol and receive 75% of the deposit's value in jEUR. The liquidity provider then receives a share of the trading fees generated on Jarvis Exchange in reward.
The jEUR is entirely backed by USDC and over-collateralized with it, so it has the same risk profile as USDC. You can read more about it in Bluechip's USDC analysis.
The price of jEUR tracks the price of the Euro by using both the price of its collateral, the USDC stablecoin, and a price oracle that provides a USD-EUR exchange rate in real time.
You never store jEUR in itself. Instead, you store the private key giving you access and control over a jEUR address. That key is stored in a wallet, which provides an interface to use it. To learn more, read our in-depth guide on storing crypto assets.
To send jEUR, you use a crypto wallet like Bridge Wallet where you will choose the amount to send and the destination address. Confirm and send, that's it!
You can buy jEUR here by bank transfer or by card on any self-custodial jEUR wallet. For more information, have a look at our step-by-step tutorial on how to buy jEUR.
You can swap jEUR on Mt Pelerin against one of the cryptocurrencies that we support, using any self-custodial jEUR wallet. For more information, have a look at our step-by-step tutorial on paraswap.io for other jFiats and cryptos without any slippage, using Chainlink's price feeds.
You can cash out jEUR here easily with Mt Pelerin and withdraw funds on your bank account in one of the 12 fiat currencies that we support. For more information, have a look at our step-by-step tutorial on how to sell jEUR.
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