**What is The sEURO?**
The sEURO is a stablecoin, which means it is a cryptocurrency that is designed to maintain a stable value, in this case, pegged to the euro. It is the first stablecoin that was created using the Standard Protocol.

**What is The Standard Protocol?**
[The Standard Protocol](https://coinmarketcap.com/currencies/thestandard-io/)  is a bunch of DeFi smartcontracts that consists of stablecoin minting and lending. It is built on the ZK-EVM, which is a next generation layer 2 virtual machine that runs on the Ethereum and polygon blockchains. The system allows anyone to lock up their crypto in a smart contract and use that as collateral to mint new stablecoins with NO interest or time limit to pay it off. The first stablecoin to be minted using this protocol is the Standard Euro (sEURO). The system is expanding to include other fiat currencies such as sUSD, sINR, sGBP, and other pegged currencies, which will be available in the future, likely between 2023 and 2024.
find out more at [TheStandard.io](https://TheStandard.io)

**How Many sEURO will be in Circulation?**
The supply of Standard Euro (sEURO) is limited only by the amount of assets people lock up in smart contracts. sEURO is initially minted using an initial minting curve where people can purchase the stablecoin for 80 cents. As more liquidity comes into the stability pool, the discount reduces until it reaches a 1:1 with the euro. It's at this stage that it becomes a stablecoin.

After it reaches a 1:1 peg, the smart vaults will be released on the Polygon ZK-EVM. These smart vaults are a way for anyone to trustlessly lock up assets into a smart contract and mint sEURO or other sFIAT stablecoins as a zero percent interest loan. There will mathematically always be more bitcoin, ethereum, and tokenized gold value locked up than stablecoins in circulation.

**How is The Standard Protocol different from Maker DAI?**
"The Standard Protocol" is a next-generation set of smart contracts native to L2 Ethereum, with some unique features:

* IBCO launch mechanism to reward early adopters for building liquidity.
* Mint your self-debt at 0% interest.
* No time limit on paydowns.
* Sell your smart vault debt as an NFT if you need liquidity.
* Trade locked assets, so if you locked up ETH and think LINK will increase faster, you can trade locked assets for another within the smart vault.
* Smart vaults are ZK-EVM native, bringing cheap and fast transactions on the Ethereum/Polygon blockchains.
* Don't give up your keys to borrow. Not your keys, not your crypto! All smart vaults that hold your funds are smart contracts controlled by the users. No one has access to their funds unless there is a liquidation event in which the smart vault automatically auctions off the assets to TST holders.


**Who are the founders of The Standard Protocol?**
TheStandard.io was co-founded by Joshua Scigala, Philip Scigala, and Ana Valdes, with a team of notable advisors including Patri Friedman and Hartej Sawhney. The team behind TheStandard.io also created Vaultoro.com, the first Bitcoin/physical gold exchange established in 2014, developed the glass books exchange transparency protocol, and constructed the first exchange implementation of the lightning network.


**What is the concept of The Standard Protocol?**
The Standard Protocol's main focus is on cheap, fast, and secure over-collateralised spablecoins build on L2 ethereum. Using private vaults, enabling people to lock blue-chip cryptocurrencies in smart contracts and borrow against that collateral without relinquishing their private keys. The other emphasis has been on reducing liquidations for borrowers by converting locked collateral into less volatile assets such as tokenized gold if the user would like. The second method is to enable users to sell the smart vault debt as an NFT if they are unable to repay it but need liquidity.


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