Wenze van Klink
The Yield Vault supports Tether EURt. However, Tether receives strong criticism as it has never been able to proof that each Tether is backed by having the actual dollars in reserver for which Tether has been distributed. The Tether concerns are:
  • Are Tethers backed with dollars? Bank run in replacing Tether with real dollers/euros might result in not enough dollars/euros being available
  • Unfamiliar audit service provider Moore Cayman
  • Company team
  • Location and regulatory in Hong Kong
For Euro users it would be better to have a stablecoin that:
  • Has its origins in Europe and falls under European law
  • Is audited by a known company
  • Is transparent on account holdings and audits
Therefore EURS by https://stasis.net/ is a better candidate than Tether EURt, as Statis meets the above requirements (Statis is audited by BDO International).
EURS also has a larger market cap than Tether EURt (January 2022).
January 25, 2022