Home » 150,000 to share: FTX offers rewards for the arrival of the EUROC stablecoin

150,000 to share: FTX offers rewards for the arrival of the EUROC stablecoin

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To celebrate the new ability to deposit and withdraw the stablecoin EUROC on its platform, FTX is offering €150,000 to the community. The cryptocurrency exchange says that all you need to do is deposit €100, in order to be eligible for a portion of the reward.

FTX allows EUROC deposits and offers €150,000 to the community

Cryptocurrency exchange FTX now supports deposits of Circle’s stablecoin EUROC on its platform. To celebrate the occasion, €150,000 in rewards have been allocated and will be shared among users:

This is not yet strictly speaking a listing of the asset. It is not yet tradable on FTX and can only be deposited or withdrawn at this time.

This promotion, which started last Friday, will end on 12 August at 4pm Paris time. To take part, all you need to do is deposit 100 euros in fiat or EUROC on your FTX account. Please note, however, that you have to use the web version of the site, the mobile application FTX.App and FTX.US are not eligible for the event.

The €150,000 will then be shared equally among all eligible participants within 14 days of the event. If there are, for example, 1,000 participants, this will amount to €150 per person.

Euroc stablecoin gets off to a slow start

Unveiled last June, Circle’s new stablecoin has yet to make its mark on the ecosystem. Based on its smart contract on the Ethereum blockchain, its capitalisation currently stands at just over €1 million.

The bulk of this capitalisation was therefore built up in July, as the audit report for June, which can be found on Circle’s website, only attested to an offer of €2,186.

EUROC is expected to be listed on FTX very soon as a result of this transaction. For the moment, it is available on platforms such as Bitstamp, Binance.US, Bitpanda and Uniswap in a decentralised manner.

While the dollar dominates the stablecoin market by far, it will be interesting to observe the behaviour of Circle’s newborn in the coming years.

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