Celo Euro, or CEUR for short, is an algorithmic stablecoin created by Celo. CEUR and CUSD are currently the only two stablecoins by Celo at the moment. Celo Euro can be exchanged at the rate of 1:1 to the Euro fiat.
CEUR works in the same fashion as CUSD. CEUR’s price is backed by the crypto assets in the Mento Reserve, oracles, and other algorithms. Celo claims that 1 CEUR is always exchangeable for 1 Euro worth of CELO, so users can take advantage of this to reap profits for themselves by using CEUR. However, those who intend to sell a large amount of CEUR will have their funds locked and sold for a few days so the stablecoin can avoid depeg and exploitation.
CEUR does not have a total supply. Its circulating supply is 21,657,229.
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