EURC Soroban offers a collateral-backed EUR Stablecoin with ramps, pools & swaps to projects building on Soroban & new to Stellar
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Project Description
MYKOBO is a Euro anchor on Stellar and the issuer of the EURC token with support for SEP-1, SEP-6, SEP-10, SEP-12, SEP-24 & SEP-31. The MYKOBO mobile app is custodial and available on Android and iOS.
The tokens curated in the app are EURC, XLM, USDC & AQUA. The curated liquidity pools are XLM-EURC, EURC-USDC & AQUA-EURC.
The EURC Soroban project will wrap the curated tokens currently available in the MYKOBO app and integrate these tokens into a Soroban version of the MYKOBO app with support for KYC, on/off ramps, swaps and liquidity pools.
This project will deliver a full-featured Soroban-ready app powered by a Soroban-ready backend infrastructure using smart contracts.
The EURC Soroban project will implement:
The objective of the EURC Soroban project is to provide a subset of the utility of Stellar Classic natively on Soroban. This would lead to the following benefits:
We see the following progress since the last SCF submission in 2022. The data below was updated on 15th of May 9.30 EET.
The monthly EURC attestations are available at https://attestations.mykobo.co/
The EURC SDEX asset page is available at https://stellar.expert/explorer/public/asset/EURC-GAQRF3UGHBT6JYQZ7YSUYCIYWAF4T2SAA5237Q5LIQYJOHHFAWDXZ7NM
Deliverable 2
The objective of Deliverable 2 is to provide on/off ramps, swaps and liquidity pools in the app. An endpoint for custodial account balance information will be implemented.
Deliverable 1
How can a reviewer check you completed your first deliverable?
A reviewer will be able to install a standalone Android app available here:
https://drive.google.com/drive/folders/1L-ZTrcFAkVj0cuZH-PsUK2I06aGdKZQk
The reviewer will be able to complete KYC and reach a dashboard where it will be possible to copy the wallet address or listed transactions to paste into https://laboratory.stellar.org/#explorer?network=futurenet for review.
To make review easier there is no validation on the KYC form such as the IBAN validation we normally carry out. Random input can be used.
MYKOBO provides a bridge connecting the European financial infrastructure to the blockchain using Stellar and the collateral-backed EURC Stablecoin backed 1:1 with the Euro fiat currency. EURC is used to provide on/off ramps and cross border border payments.
Seyi Akin-Olugbemi – CEO (https://www.linkedin.com/in/akinolugbemi)
Kwabena Aning – CTO (https://www.mildlyskilled.com)
Toyedayo Osilaja - Director
Bazuaye Osazee - Director
Olobusola Osilaja – Head of Strategy and Business Development
(https://www.linkedin.com/in/olubusola-osilaja-a7a3a750)
Jamie Slaats – Head of Operations (https://www.linkedin.com/in/jamieslaats)
Ieva Varatinskyte - Head of Compliance
(https://www.linkedin.com/in/ieva-%C4%8Desnavi%C4%8Dien%C4%97-58a0ba205/)
Jūratė Varatinskienė - MLRO
Jordan Harry - Head of Marketing(https://www.linkedin.com/in/jordanharry/)
Amrith Srinivas - Junior Full Stack Engineer(https://www.linkedin.com/in/amrith-srinivas-8a4b06262/)
The MYKOBO team has a great deal of experience in the Fintech space ranging from technical implementation to compliance and payments. In addition the team is experienced at managing a business and generating revenue.
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has been awarded to the project in XLM. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.