Lower risk — 3+ years of clean operation with standard mechanisms, but thin EUR liquidity and MiCA challenges limit growth potential
Top Risks
1
Governance vote AIP-112 approved wind-down of EURA and USDA stablecoins, with 1:1 EURC/USDC redemption available until March 1, 2027. The protocol is pivoting entirely to Merkl incentive distribution — stablecoin product is being deprecated.
2
Merkl is a fundamentally different business model (incentive marketplace) than stablecoin issuance. The pivot carries uncertainty around revenue model viability, user retention, and competitive differentiation against similar incentive platforms.
3
MiCA regulatory non-compliance caused market share loss for EURA. The EUR stablecoin wind-down removes this overhang but also eliminates Angle's primary product that drove TVL.
Risk Breakdown
Frequently Asked Questions
Is Angle Protocol safe to use?
Angle Protocol receives a B- risk grade (29/100) from Hindenrank, where lower scores indicate lower risk. Lower risk — 3+ years of clean operation with standard mechanisms, but thin EUR liquidity and MiCA challenges limit growth potential A Euro-denominated stablecoin protocol backed by diversified collateral including crypto assets and real-world assets. It holds $6M in deposits with 3+ years of clean operation. Its B+ grade reflects standard, well-tested mechanisms and a long track record, offset by thin EUR liquidity and regulatory challenges from MiCA non-compliance.
What are the main risks of using Angle Protocol?
The key risks identified for Angle Protocol are: (1) Euro stablecoins have much less trading liquidity than dollar stablecoins. During market crashes, there may not be enough buyers to maintain the peg. (2) The protocol has faced regulatory issues with EU's MiCA framework, causing some exchanges to delist or restrict the token. (3) Part of the collateral backing is in real-world assets, which introduces traditional finance risks like custodian failure and regulatory seizure.
What is Angle Protocol's risk score breakdown?
Angle Protocol scores 29/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 8/20, Oracle Surface: 2/10, Documentation Gaps: 3/10, Track Record: 0/15, Scale Exposure: 3/10, Regulatory Risk: 6/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.
How does Angle Protocol compare to other Stablecoin protocols?
Among 28 rated Stablecoin protocols on Hindenrank, Angle Protocol ranks #1 by safety (lowest risk score = safest). Its 29/100 risk score and B- grade place it among the safer Stablecoin protocols.
Has Angle Protocol ever been hacked or exploited?
Angle Protocol scores 0/15 on the Track Record risk dimension, indicating no significant exploits or security incidents in its history. However, past performance does not guarantee future security.