Why and how to use EURL on Ethereum ?

Lugh is thrilled to announce the launch of EURL on Ethereum. After a year of operation on the Tezos blockchain, Lugh is opening up to a new network and thus to new opportunities.

Ethereum is the leading blockchain for business applications. This launch should allow Lugh to reach new exchanges, NFT projects or to facilitate its launch in the ecosystem by being integrated in the major wallets (Metamask, Ledger Vault, Fireblocks, Trust wallet). The amazing development and evolution of Ethereum opens the door to an infinite number of projects for Lugh.

Why launch EURL on Ethereum ?

Launching the EURL on Ethereum was the logical next step, after more than a year of operation on the Tezos network. Launching the EURL on Tezos allowed us to test our infrastructure, our governance and to continue working on our regulatory status. Over the course of this year, we’ve put these elements to the test, particularly through our partnership with Coinhouse.

As Lugh accelerates its development, it is time to open up to new networks and naturally it is to Ethereum that we have turned, for several reasons.

To begin with Ethereum and its crypto ETH is the second biggest blockchain in terms of value. It is also the biggest in terms of applications and total value locked (TVL).

Launching EURL on Ethereum allows us to offer the ERC-20 format which will allow us to easily launch EURL on other so-called “EVM compatible” blockchains such as Avalanche or Polygon. Lugh, like most of the major stablecoins has an agnostic vision and wants to be present on most blockchains and thus be the reference solution in terms of euro stablecoin.

Finally, Ethereum seems to be at the dawn of a year full of change with notably the passage of the system “Proof-of-Work” to “Proof-of-Stake”, which will allow among other things to reduce the environmental impact of Ethereum.

Perspectives for Lugh

The launch of the EURL on Ethereum opens many perspectives for us.

First of all on exchanges, indeed most of them support ERC-20 formats (especially via major storage solutions such as Fireblocks or Ledger Vault), so this new feature will allow us to expand our distribution network.

Secondly, our presence on the Ethereum network will allow us to access the many applications of the DEFI and to access the large liquidity present. The important thing for a stablecoin is to be accessible and liquid. Our presence in the DEFI should allow us to do just that and move towards our goal of being one of the leading euro stablecoins in the ecosystem.

Finally, we believe that the crypto-currency sector will be able to democratize and onboard the next wave of users through stablecoins. This launch gives us access to the market of tokenized assets, such as NFTs and its growing market.

Lugh has many development opportunities in the field of DEFI, tokenized assets or exchanges thanks to the popular ERC-20 standard.

So, as you can see, this launch opens many opportunities for us, which should allow us to have an exciting year and to continue our development.

EURL on Ethereum (for corporates only)

If you don’t have a Lugh account, please reach out to contact@lugh.io to set up an account and get access to an dedicated platform.

Lugh Platform

If you already have a Lugh account, then connect to the platform and click on “Set a purchase request”.

Then, you will be able to select on which blockchain you want to buy EURL.

Select Tezos or Ethereum

Get a view on all your requests (buy/sell)

After Lugh receives the corresponding amount of € on its bank account, Lugh will mint the EURL on the blockchain of your choice and you will receive it directly in your wallet.

If you are a broker, exchange, NFT project, on-off ramp module or crypto-related company and want to open a Lugh account, please reach out at contact@lugh.io

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