StablR has been committed to integrating Chainlink Proof of Reserve (PoR) on Ethereum to make improvements regarding clarity issues for EURR-StablR’s collateralized and Euro-backed stablecoin.
Using Chainlink PoR, users can check both the total amount of StablR Euros in circulation and the amount freshly minted, should this exceed the total amount of Euros in reserve. This feature increases the user’s confidence that the StablR Euro amount will not exceed the amount of collateral providing support.
According to StablR CEO Gijs op de Weegh, the Chainlink Port Authority provides absolute clarity about the collateral support of StablR Euro, which can be easily traced in real time. The Chainlink Proof of Reserve benchmark provides additional clarity in the case of StablR Euro.
Chainlink serves as the definitive standard regarding the Web3 service platform. It is tasked with executing significant volumes of transactions across multiple industries, including insurance, gaming, NFTs, and DeFi. As the best decentralized Oracle network, Chainlink offers developers the ability to create Web3 applications with connectivity to real-time data and off-chain computation in any blockchain.
The company plans to strengthen DeFi, along with CeFi and TradeFi users, to move money easily between different ecosystems. StablR believes that the futuristic aspect of the international economy will be allocated openly, clearly and equally to everyone connected to it.