TL;DR - Quantillon in 5 Minutes

One-liner: Quantillon is a DeFi protocol that lets you hold euros on-chain, backed by USDC, with built-in FX hedging and yield generation.

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The 30-Second Version

• QEURO = Euro stablecoin backed by USDC (101%+ collateralized)

• stQEURO = Yield-bearing QEURO (think Lido's stETH, but for euros)

• QTI = Governance token (lock for veQTI = more voting power)

• Two pools: Users (mint QEURO) vs Hedgers (take FX risk for rewards)

• Yield comes from Aave + dynamic distribution via "YieldShift"

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How It Works

The flow:

1. Users deposit USDC into the Vault and receive QEURO at the current EUR/USD rate

2. Hedgers provide USDC and take on the EUR/USD currency risk

3. USDC collateral is deployed to Aave to generate yield

4. YieldShift dynamically splits yield between Users and Hedgers

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The Three Tokens

Token	What It Is	Analogy	Key Feature
QEURO	Euro-pegged stablecoin	Like USDC, but for EUR	Always redeemable 1:1
stQEURO	Yield-bearing QEURO wrapper	Like stETH	Value grows over time automatically
QTI	Governance token	Like veCRV	Lock tokens for more voting power

QEURO - The Euro Stablecoin

• Mint by depositing USDC

• Pegged to EUR via Chainlink oracles

• Overcollateralized (minimum 101%)

• Instant redemption back to USDC

stQEURO - Auto-Compounding Yield

• Wrap your QEURO to earn yield automatically

• Exchange rate increases over time (no rebasing)

• Fully liquid and DeFi-composable

• Unwrap anytime to get more QEURO than you deposited

QTI - Governance Power

• Vote on protocol parameters and upgrades

• Lock QTI to get veQTI (vote-escrowed QTI)

• Longer lock = more voting power (up to 4x multiplier)

• Fixed supply: 100 million tokens

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Key Numbers at a Glance

Parameter	Value	What It Means
Min Collateralization	101%	Protocol is always overcollateralized
Minting Fee	0.1%	Cost to mint QEURO
Redemption Fee	0.1%	Cost to redeem back to USDC
Max QTI Lock	365 days	Maximum lock for 4x voting power
Min QTI Lock	7 days	Minimum lock period
Yield Holding Period	7 days	Wait time before claiming yield (anti-flash loan)
Oracle Staleness	1 hour	Max age for price feeds
QEURO Max Supply	1 billion	Maximum mintable QEURO
QTI Total Supply	100 million	Fixed, non-inflationary

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The Dual-Pool Model

Quantillon separates participants into two roles:

Users

• Goal: Hold stable EUR exposure + earn yield

• Action: Deposit USDC → Mint QEURO → Optionally stake for stQEURO

• Risk: Minimal - they get euro stability

Hedgers

• Goal: Earn yield by taking FX risk

• Action: Provide USDC margin → Take EUR/USD positions

• Risk: Currency fluctuations (EUR/USD moves)

• Reward: Higher yield allocation when hedger supply is low

Why it works: Hedgers absorb EUR/USD volatility so Users get stable euro exposure. It's a win-win: Users get stability, Hedgers get compensated for risk.

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YieldShift - The Self-Balancing Mechanism

"When there are many hedgers, users get more yield. When hedgers are scarce, they get more rewards to attract them."

How it works:

• Protocol tracks the ratio of User deposits vs Hedger liquidity

• Uses a 24-hour TWAP (time-weighted average) to prevent manipulation

• Dynamically adjusts yield split to maintain healthy balance

• 7-day holding period prevents flash deposit attacks

Result: The protocol automatically incentivizes whatever role is currently needed most.

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Security Highlights

Feature	Description
Chainlink Oracles	EUR/USD and USDC/USD price feeds with staleness checks
Circuit Breakers	Automatic pause on abnormal price movements (>5% deviation)
Rate Limiting	Prevents excessive minting/burning in short periods
Minting Killswitch	Emergency stop for all minting operations
Pausable Contracts	All core contracts can be paused in emergencies
UUPS Upgrades	Upgradeable contracts with timelock protection
Role-Based Access	Granular permissions (Minter, Burner, Pauser, etc.)
Blacklist/Whitelist	Compliance controls for regulatory requirements

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The Four Pillars of Quantillon

What makes Quantillon fundamentally different from other Euro stablecoins:

1. Liquidity by Design

Problem: Most Euro stablecoins struggle with liquidity - you can't trade large amounts without massive slippage.

Quantillon's solution: Instead of building liquidity from scratch, we inherit it.

• USDC backbone - Tap into the deepest stablecoin liquidity in DeFi

• Forex markets - Access $7+ trillion daily EUR/USD trading volume

• No cold start problem - Day-one liquidity without years of bootstrapping

• Low slippage - Trade any size without moving the market

2. Holistic Protocol

Problem: Existing Euro stablecoins are just tokens - no yield, no governance, no ecosystem.

Quantillon's solution: A complete three-token ecosystem where everything works together.

Token	Role	Synergy
QEURO	Stable value	Foundation for stQEURO and protocol TVL
stQEURO	Yield generation	Drives QEURO demand and staking
QTI	Governance	Aligns incentives and controls parameters

The flywheel effect:

• More QEURO minted → More yield generated → Higher stQEURO returns

• Higher returns → More users → More QEURO demand

• More users → More governance value → Higher QTI utility

3. Hedging Engine

Problem: Holding EUR exposure with USD collateral creates currency risk. Who absorbs it?

Quantillon's solution: A native, protocol-level hedging mechanism.

• Dedicated Hedger role - Professional risk-takers who earn for their service

• Delta-neutral positions - Hedgers can be market-neutral if desired

• Dynamic compensation - YieldShift adjusts rewards based on hedger supply

• Transparent P&L - All positions and profits/losses tracked on-chain

How it protects users:

1. User deposits USDC, gets QEURO at EUR rate

2. Hedger takes the opposite side of EUR/USD exposure

3. If EUR moves, Hedger absorbs the difference

4. User always gets stable EUR value back

4. Modular Vaults

Problem: One-size-fits-all collateral strategies don't work for everyone.

Quantillon's solution: Multiple vault backends for different risk/yield profiles.

Vault	Strategy	Risk	Best For
aQEURO	Aave lending	Low	Default choice, most users
mQEURO	MakerDAO	Medium	Conservative DeFi users
bQEURO	T-Bills/RWAs	Low	Institutional clients
eQEURO	Yield strategies	Higher	Risk-tolerant users

Benefits:

• Choose your risk - Conservative or aggressive, your choice

• Diversification - Spread across multiple strategies

• Upgradeable - New vaults can be added via governance

• Same QEURO - All vaults mint the same fungible token

Note: Currently, aQEURO (Aave) is the only implemented vault. Other variants are on the roadmap.

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How Quantillon Compares

Feature	Quantillon	EUROC	EURS	agEUR
Liquidity Source	USDC + Forex	Own pools	Own pools	Own pools
Native Yield	stQEURO	None	None	Variable
FX Hedging	Built-in	None	None	Algorithmic
Governance	DAO (QTI)	Centralized	Centralized	DAO
Vault Options	Multiple	Single	Single	Single
MiCA Alignment	Yes	Yes	Unclear	Evolving

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Quick Links

Want to dive deeper? Here's where to go:

Topic	Page
Full Protocol Overview	Overview
Why Quantillon Exists	Whitepaper
QEURO Token Details	QEURO Token
stQEURO Mechanics	stQEURO Token
QTI Governance	QTI Token
Core Mechanisms	Mechanisms
How YieldShift Works	YieldShift
Liquidation System	Liquidation
Frequently Asked Questions	FAQ
Glossary of Terms	Glossary

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TL;DR of the TL;DR

1. Deposit USDC → Get QEURO (euro stablecoin)

2. Wrap QEURO → Get stQEURO (earn yield automatically)

3. Hold QTI → Vote on protocol decisions

4. Hedgers take FX risk so you don't have to

5. Yield comes from Aave, split dynamically via YieldShift

That's it. You now understand Quantillon Protocol.

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Ready to get started? Visit the dApp to mint your first QEURO.