TechFlow News — A proposal has been released by the Angle Protocol community, aiming to restore the euro-pegged stablecoin agEUR to its intended peg. The proposal suggests taking the following steps:
1. Allow holders of sanETH, sanFRAX, and sanDAI to exit the protocol at a 1:1 ratio;
2. Allow users who borrowed agEUR with FRAX, DAI, and ETH as collateral to repay their debts, thereby reducing the outstanding supply of agEUR;
3. Issue ANGLE tokens or debt tokens linked to protocol revenue to compensate USDC depositors and liquidity providers for losses;
4. Allow other liquidity providers and depositors to participate in debt token distribution or token insurance.
Previously reported, on March 14, Angle Protocol stated that $17.6 million in USDC funds were affected by the Euler hack incident.Original link
