Angle Coin: How To Issue Stablecoins?

tl;drOn my search for a decentralised stablecoin protocol to allow me to issue stablecoins, I came across Angle Protocol. It is a decentralised protocol that highlights capital efficiency and over-collateralisation and is made up of smart contracts deployed on the Ethereum blockchain. I found various interesting features in this protocol that I’m about to share in this article. Keep scrolling to learn about Angle Protocol, Angle Coin, and price analyses to decide if Angle should be in your portfolio.
Angle Coin: How To Issue Stablecoins?
Angle Coin: How To Issue Stablecoins?
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What Are Angle Coin Top Features?

Angle Coin comes from Angle Protocol, which provides a situation for its users to issue stablecoins, called agTokens, which are pegged to a specific value. In simple terms, these tokens are built to mirror the value of the asset they are pegged to. The currencies Angle started with are agEUR, a Euro (EUR - €) stablecoin on Ethereum mainnet. In addition to providing the stablecoin product, the Angle protocol enables the users to:

  • Trade perpetual futures,
  • earn yield from strategies, and
  • get leverage on a wide range of assets.

How Does Angle Coin Platform Work?

The Angle Protocol is comprised of various modules or smart contracts, which issue or mint agTokens. Since its inception, the Angle Coin Protocol was running on a single minting module, i.e., the Core Module. But recently, it has introduced a Borrowing Module to let users borrow Angle stablecoins against deposited collateral. Also, the protocol is involved in Algorithmic Market Operations (AMOs), where the users invest agTokens in protocols for Angle to get a yield on. What do these modules practically do? Follow me to the next section to find out!

Angle Coin Core Module

Three types of agents run the Angle Coin Core module by forming a balanced ecosystem maintaining agTokens' peg (or stability). These agents are Minting Users, Hedging Agents, and Standard Liquidity Providers (SLPs).

  • Minting Users mint and burn the stablecoins.
  • Hedging Agents protect the protocol collateral from price changes.
  • Standard Liquidity Providers help over-collateralize the protocol to earn yield.

Angle Coin Platform Borrowing Module

Using the Borrowing Module, the users can deposit collateral and borrow agTokens (debt) against this collateral. Also, the users can get an agToken loan and get leverage on various assets or access stablecoins while being exposed to a volatile asset or a yield-bearing token. Angle Coin platform has added new features to traditional protocols, such as Maker, Abracadabra, Liquity, Aave, Compound, etc. Some of these new features are as follows.

  • Capital efficiency is one of the main features of all operations.
  • Improvements in the liquidation engine have optimised the borrowing experience as it reduces the losses liquidated addresses face, which is far less than what they experience in traditional models.

Angle Coin Tokenomics

Angle Coin or ANGLE is the governance token for Angle DAO. The initial supply for Angle Coin is 1 billion, and no token inflation is planned. The platform has only one address with minting capability: the Angle DAO Timelock. In January 2022, the ANGLE's tokenomics was upgraded with the ability to lock ANGLE into veANGLE, similarly to what Curve does with CRV/ veCRV. Angle Coin is designed to involve people in the protocol's governance and incentivise the users, SLPs (Standard Liquidity Providers) and Hedging Agents. ANGLE distribution is intended to be multi-year, extended, and sustainable for the protocol to reach ubiquity. The following image depicts the Angle Coin distribution.

Angle Coin Allocation
Angle Coin Allocation

What Is Angle Coin DAO?

Angle Coin DAO has been created to tune and improve the protocol to provide a more sustainable and robust platform and introduce it as the building block of the DeFi space. Thanks to the tokenomics upgrade to the veANGLE model, veANGLE holders vote for the changes and the core team, and community members execute the approved suggestions. Additionally, the Angle DAO is a means of deciding how to allocate the ANGLE tokens distributed, which is a part of the liquidity mining program. To read more about Angle DAO, check here.

Angle Coin Liquidity Mining

Using staking contracts, the Angle Coin team distributes 40% of the Angle Coins among agTokens holders, HAs, and SLPs. Every week, governance adjusts the distribution of tokens between the different types of stakeholders using gauge votes. The amount of distributed ANGLE is divided by 1.5^(1/52) = 1.007827 each week, which equals the tokens emission divided by 1.50 each year. The core team controls 5% of the ANGLE's weekly emissions to allocate them without any vote by veANGLE holders. To learn more about veANGLE token, check here.

Angle Coin Liquidity Mining
Angle Coin Liquidity Mining

Angle Coin Grants and Partnerships

The Angle Coin core team holds 12% of the initial ANGLE in a multi-sig. These tokens are set aside to be distributed to the community as grants or bug bounties, strategic partners like exchanges for listing, and the most active community members and advisors.

How To Access The Angle Coin Developers Doc?

As mentioned above, Angle Coin comes from an open-source protocol, where everyone has access to the codes and can suggest improvements permissionlessly. You can access the codebase on Github.

Angle Coin Financial Analysis

Financial charts at Cryptologi.st indicate that Angle Coin, with a market cap rank of #1119, is currently held in over 1900 wallets, which have registered over 33,000 transactions so far. The more the number of wallets holding a coin, the more popular and reliable it is. There have been three forks made from Angle. Its current liquidity score is 24%, which is below the market average, making ANGLE a hard sell in this bearish market. The following image indicates the market cap and the price of Angle Coin in the recent six months.

Angle Coin Market Cap and Price Jan 13, 2022 - Jul 09, 2022
Angle Coin Market Cap and Price Jan 13, 2022 - Jul 09, 2022

How Much Is Each Angle Coin?

Today, on Jul 11, 2022, the price of each Angle Coin is $0.030427659071, with a 24-hour trading volume of $39,723.38. In the previous 24 hours, the price of ANGLE has been down -3.3%. The Angle Protocol has a circulating supply of 150 Million ANGLE coins and a total supply of 1 Billion. To trade ANGLE, you can use BingX, which is currently one of the active exchanges to buy and sell Angle Coins.

Disclaimer: Don’t take this article as financial advice. You need to DYOR (Do Your Own Research) before investment.

Angle Coin Price Prediction

If based on expert opinion and thorough analyses, price predictions can help us have a clear picture of the possible future of a given coin. In the following sections, we’ll review the Angle Coin price predictions coming from the crypto experts based on the recent performance of ANGLE and its growth potential. Remember that while based on careful analyses, these are predictions, you still need to do your own research before investing.

Angle Coin Price Prediction for 2022

Experts predict that by the end of 2022, the average price of Angle Coins may reach $0.15, with a maximum price of $0.18.

Angle Coin Price Prediction for 2023

The average price range of ANGLE is expected to revolve around $0.22 by the end of 2023.

Angle Coin Price Prediction for 2024

Angle Coin can end 2024 with an average trading price of $0.31 and a minimum price of $0.30. The maximum range is predicted to be around $0.36.

Angle Coin Price Prediction for 2025

According to analysts, ANGLE is expected to touch a maximum trading price of $0.53 by the end of 2025. The average price of each Angle Coin is anticipated to fall between $0.45 and $0.46 in 2025.

Should I Invest In Angle Coin?

Financial reports and analyses from Cryptologi.st, Coingecko, Coinmarketcap, and other crypto bigshots indicate that Angle Coin could not maintain satisfactory performance in recent months, probably due to the bear market situation. The low liquidity score shows that it cannot be an easy sell in the current falling market and can’t be considered a safe short-term investment. We need to wait for the next bull run to see what it may do to Angle Protocol and the market in general. In the meantime, we can stay updated about the innovations of the top 1500 crypto projects to choose the best ones and follow their changes using our watchlist. Also, we can compare hundreds of projects using the free screening tool provided by Cryptologi.st, which strives to educate everybody about the incredible opportunities the cryptocurrency and blockchain may offer. Stay tuned for more in-depth reviews.

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