mcEUR

mcEUR is one of the euro-pegged tokens that tries to give crypto users a familiar unit of account without moving away from the token model. By our assessment, that is the clear appeal: it aims to behave more like a euro surrogate than like a noisy speculative coin, which makes its purpose easier to grasp than many tokens. The trade-off is equally plain, because anything pegged lives or dies by the credibility of its backing and the mechanism behind it. In practice, these assets are useful only as long as the peg is trusted, and they are not the same thing as holding euros in a bank account. mcEUR sits closer to the stablecoin end of crypto than to the meme or gamble end of it.