Native Decentralized Euro Protocol Shares (nDEPS) are the governance token of the

Decentralized Euro (dEURO) system. Anyone can obtain newly minted nDEPS by providing

equity capital to the system and later return them to reclaim their share of capital. nDEPS

holders benefit from the earned fees and liquidation profits, but they are also the ones who

bear the residual risk of liquidations, similar to the shareholders of a bank. Therefore,

nDEPS holders have an incentive to grow the system and ensure its stability. The

governance process is veto-based: anyone can propose new types of collateral or even

completely new methods to bring dEURO into circulation, but just 2% of the voting power is

sufficient to veto such proposals.