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TVL $5MAPY 1.95%medium riskUpdated Feb 1, 2025

EURC/USDC Convex Deposit

Deposit Curve EURC/USDC LP tokens into Convex for boosted yields on this Circle Euro and USD stablecoin pair.

ProtocolConvex
Networkethereum
SymbolCVXEURC-USDC
CategoryYield Vaults
Underlying Assets
EURCUSDCCRVCVX
Contract Address0xc4d5e6f7a8b9c0d1e2f3a4b5c6d7e8f9a0b1c2d3

What is EURC/USDC Convex Deposit?

This vault optimizes yields for the Curve EURC/USDC pool through Convex Finance. EURC is Circle's Euro-denominated stablecoin, creating a pool that enables efficient EUR/USD swaps on-chain with both assets from the same trusted issuer.

Understanding EURC

Circle's Euro stablecoin:

  1. Euro Backing: 1:1 backed by Euro reserves
  2. Same Issuer as USDC: Circle's regulated infrastructure
  3. MiCA Compliance: Designed for EU regulatory framework
  4. Institutional Grade: Enterprise-level compliance

EURC extends Circle's regulated stablecoin model to the Euro.

How EURC Works

EURC's structure:

  • Issued by Circle (same as USDC)
  • 1:1 Euro backing in reserves
  • Monthly attestations
  • Redeemable through Circle platform

How This Vault Works

  1. Provide EURC and/or USDC to Curve pool
  2. Stake LP tokens in Convex vault
  3. Convex applies veCRV boost
  4. Earn trading fees + CRV + CVX
Yield Sources: EUR/USD swap fees, boosted CRV emissions, CVX incentives.

Fee Structure

Convex standard fees:

  • 16% of CRV rewards
  • No deposit/withdrawal fees

FX Pool Dynamics

This pool is unique as an FX pair:

  • EUR/USD is major forex pair
  • On-chain FX trading demand
  • Arbitrage with off-chain rates
  • Higher volatility than stablecoin-stablecoin

cvxCRV and Yield Infrastructure

Convex's mechanics:

  • cvxCRV aggregates veCRV power
  • Max boost for all depositors
  • vlCVX directs gauge votes
  • Sustainable yield model

Risk Disclosures

FX Risk: Unlike stablecoin-stablecoin pools, EUR/USD rates fluctuate. LPs have exposure to EUR/USD movements. Impermanent Loss: EUR/USD rate changes cause significant IL compared to same-currency pools. Smart Contract Risk: Exposure to Curve, Convex, and Circle contracts. Circle Risk: Both tokens depend on Circle's operations and reserves. Regulatory Risk: EURC faces EU MiCA regulations which may impose constraints. Lower Liquidity: EURC has less adoption than USDC, potentially meaning thinner markets. Hedging Complexity: Understanding FX dynamics requires different risk assessment than pure stablecoin pools.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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