Angle Crypto Platform

There are agEUR and agGOLD stablecoins on the platform so far. agEur is pegged to Euro and agGOLD is pegged to one ounce of Gold. Even though the platform is mainly focused on stablecoin products, perpetual trading, earn products, and leverage tools are also provided for users. Users can borrow the platform’s local stablecoin agTokens against their collaterals. The protocol is governed by the Angle DAO and the platform’s utility token ANGLE is used as a governance token.
 
The platform has a web app only and anyone can connect to and start using the protocol with a web wallet including popular choices; MetaMask, OKX Wallet, Phantom, and WalletConnect. Most tools on the protocol are available for anyone without KYC or background check except paying and getting paid in agEUR by using a bank. the rest of the tools can be used without any limitations.
 
The web app is fast and responsive but the user interface is not the best for a beginner. Users should select the network from their wallets before connecting to the platform and then choose the tools they want to use in the tools bar on the left side of the screen. You will see agEUR, Trade, Earn, and ANGLE tabs on the left. Users can swap, borrow, and bridge agEUR tokens on the agEUR tab. Users can buy agEUR tokens with a credit card or a bank account too. The second tab ‹trade› allows users to use leverage with their forex trades. Traders can open positions on the price of Euro currency and use leverage to magnify their return. Leverage can be used with borrowings too. The earn tab is for staking products where users can lock their coins to earn yield.
 
The protocol is a new player and its age is less than two years old. Decentralized crypto protocols are promising for the future but the technology is still in the development phase and can face technical accidents or suffer actions of people with bad intentions. Sometimes protocols may get losses because of the other protocols they are connected to. the Angle invested some of its funds in the Euler Finance protocol and lost approximately $17 million worth of USDC tokens when the Euler finance was exploited in a flash loan attack. There are several audit reports provided on the platform’s official documents pages. Unfortunately, decentralized finance is very complex and protocols rely and depend on each other for some services. One platform can be very secure but one of its partners may lead to some losses.

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