jEUR vaults
About Jarvis Synthetic Euro
jEUR is a synthetic Euro stablecoin issued by Jarvis Network. It is overcollateralised by USDC and uses Chainlink oracles for EUR/USD price feeds. jEUR enables on-chain Euro exposure across multiple chains.
jEUR is a synthetic Euro stablecoin issued by Jarvis Network through its Synthereum protocol. It belongs to the jFIAT family of on-chain synthetic fiat currencies — a suite that also includes jGBP, jCHF, jCAD, jSGD, and jPHP — designed to bring real-world currency exposure to DeFi without traditional banking intermediaries.
Mechanism
jEUR is over-collateralised by USDC at a 125% collateralisation ratio, with a liquidation threshold of 105%. Users can mint jEUR by depositing USDC into a Synthereum pool and borrowing jFIAT at zero interest, or they can trade directly with liquidity providers at the Chainlink EUR/USD price feed rate with zero slippage. This direct-swap model means Synthereum pools hold only a single asset (USDC) rather than requiring paired liquidity.
A network of incentivised liquidators monitors positions and enforces the collateralisation floor, keeping jEUR solvent even in adverse market conditions.
Key properties
- Over-collateralised by USDC (125% minimum ratio)
- Zero-slippage on-chain EUR/USD swaps at Chainlink oracle price
- Zero-interest minting against USDC collateral
- Available on Ethereum, Polygon, Arbitrum, Avalanche, BNB Chain, Gnosis Chain, Optimism, and Base
- Integrates with Aave, Superfluid streaming payments, and other DeFi protocols
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