The discussion primarily revolved around the proposal by Sogipec to onboard agEUR, a Euro stablecoin from Angle Protocol, on Aave V3 on the Optimism and Arbitrum markets. agEUR, the largest decentralized Euro stablecoin, is already a supported asset on V3 on Polygon and has been voted to be a collateral in isolation mode. It has a significant circulating supply on Optimism and Arbitrum, and deep liquidity on UniswapV3, Sushiswap, and Curve on the mainnet.

The onboarding of agEUR to Optimism and Arbitrum is expected to provide benefits such as enabling € shorts and allowing Euro DeFi users to get a yield on their €. This would also make these opportunities more accessible for DeFi users who prioritize the security provided by layer 2 solutions and small transaction fees. Sogipec proposed risk parameters for liquidity on Optimism and Arbitrum chains, suggesting specific LTV, liquidation threshold, and reserve factor for V3 Emode EUR stablecoins and V3 Emode stablecoins.

Angle Protocol, the platform that issues agEUR, has a strong community backing and has undergone multiple audits. The agEUR token contract on mainnet is upgradeable and can be upgraded by a multisig, which can also upgrade agEUR on Optimism and Arbitrum. The token has a market cap of €47m, with a 24h volume of $3m, and is in its early maturity stage. The token was deployed on mainnet on Oct 23rd, 2021, and on Optimism and Arbitrum on July 4th, 2022.