Euler is a modular lending platform allowing users to deploy and chain together their own customised lending markets in a permissionless manner.

What is Euler?​

Euler (EUL) stands out as a modular lending platform on Ethereum, designed to revolutionize the way users interact with decentralized finance. At its core, Euler comprises two main components: the Euler Vault Kit (EVK) and the Ethereum Vault Connector (EVC). These components empower builders to deploy and chain together customized lending vaults in a permissionless manner, offering unparalleled flexibility and innovation.

The platform's architecture allows for the creation of various initial classes of vaults built on the EVK, which can be further customized and integrated by developers. This modularity ensures that users can tailor their lending and borrowing experiences to meet specific needs, whether for earning interest on crypto assets or hedging against market fluctuations.

Euler's permissionless nature means that anyone can participate without needing approval, fostering an open and inclusive financial ecosystem. This aspect is crucial for decentralization, as it removes barriers to entry and promotes broader participation in the financial system.

The platform's integration with Ethereum ensures robust security and interoperability with other decentralized applications (dApps). By leveraging Ethereum's established infrastructure, Euler benefits from the network's security, scalability, and widespread adoption.

Euler's innovative approach to decentralized finance, combined with its modular design and permissionless access, positions it as a significant player in the evolving landscape of blockchain technology and cryptocurrencies.

What is the technology behind Euler?​

The technology behind Euler (EUL) is a sophisticated modular lending platform designed to offer flexibility and security in decentralized finance (DeFi). At its core, Euler operates on the Ethereum blockchain, leveraging its robust infrastructure to provide a secure and efficient environment for financial transactions. The Ethereum blockchain is known for its smart contract capabilities, which allow for the creation of decentralized applications (dApps) that can operate without intermediaries.

Euler's architecture is built around two primary components: the Euler Vault Kit (EVK) and the Ethereum Vault Connector (EVC). The EVK is a toolkit that enables users to create and manage their own lending markets. This modular approach allows for single asset lending, which is a distinctive feature compared to other DeFi lending protocols that typically require multiple assets. By enabling single asset lending, Euler provides users with greater control and customization over their lending strategies.

The Ethereum Vault Connector (EVC) acts as a bridge between the Euler Vault Kit and the Ethereum blockchain. It ensures that all transactions and interactions within the Euler ecosystem are securely recorded on the blockchain. This integration with Ethereum not only enhances security but also leverages Ethereum's decentralized nature to prevent attacks from bad actors. The blockchain's consensus mechanism, primarily Proof of Stake (PoS) at the time of writing, ensures that transactions are validated by a network of nodes, making it extremely difficult for any single entity to manipulate the system.

Security is further bolstered by the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These smart contracts automate the lending process, reducing the risk of human error and fraud. Additionally, the transparency of the blockchain allows for continuous auditing and monitoring, ensuring that all transactions are visible and verifiable by anyone.

Euler's permissionless nature means that anyone can deploy and chain together their own customized lending markets without needing approval from a central authority. This democratizes access to financial services and fosters innovation within the DeFi space. Users can create unique lending markets tailored to specific needs, whether for niche assets or innovative financial products.

The modular design of Euler also allows for scalability and adaptability. As the DeFi landscape evolves, new modules can be developed and integrated into the existing framework, ensuring that Euler remains at the forefront of technological advancements. This flexibility is crucial in a rapidly changing environment, allowing Euler to adapt to new challenges and opportunities as they arise.

In addition to its technical features, Euler places a strong emphasis on community governance. Token holders can participate in decision-making processes, influencing the development and direction of the platform. This decentralized governance model ensures that the platform evolves in a way that reflects the interests and needs of its users.

By combining the strengths of the Ethereum blockchain with innovative modular components, Euler offers a secure, flexible, and user-centric platform for decentralized lending.

What are the real-world applications of Euler?​

Euler (EUL) is a decentralized finance (DeFi) lending platform built on the Ethereum network. It stands out by offering a modular approach to lending, allowing users to create and manage custom lending markets in a permissionless manner. This means anyone can deploy their own lending products without needing approval from a central authority.

One of the primary applications of Euler is its ability to facilitate lending and borrowing of various crypto assets. Users can lend their assets to earn interest or borrow assets by providing collateral. This flexibility is particularly beneficial for those looking to leverage their crypto holdings without selling them.

Euler also features the Euler Vault Kit and Ethereum Vault Connector. These tools enable users to create custom lending vaults and facilitate communication between ERC-4626 vaults. This composability allows for more sophisticated financial products and strategies, enhancing the overall DeFi ecosystem.

Another significant application is Euler's on-chain pricing system. This system provides accurate and reliable price feeds for various crypto assets, which is crucial for maintaining the integrity and security of lending and borrowing activities. The on-chain pricing mechanism ensures that users can trust the valuations of their collateral and borrowed assets.

Euler's design as a second-generation DeFi lending protocol emphasizes permissionless lending and borrowing of long-tail crypto assets. This means it supports a wide range of lesser-known or newer crypto assets, providing liquidity and lending opportunities that might not be available on more traditional platforms.

In summary, Euler (EUL) offers a modular, customizable, and permissionless lending platform that supports a wide range of crypto assets. Its unique features, such as the Euler Vault Kit, Ethereum Vault Connector, and on-chain pricing system, make it a versatile tool in the DeFi space.

What key events have there been for Euler?​

Euler, a modular lending platform, enables users to create and link their customized lending markets in a permissionless manner. This innovative approach has led to several significant events in its timeline.

In March 2023, Euler Finance faced a major challenge when a code vulnerability exploit resulted in a $200 million loss. This incident highlighted the importance of security in decentralized finance (DeFi) platforms and prompted the team to enhance their security measures.

On September 14, 2023, the unlocking of 155,390 EUL tokens marked a notable event for the community. This token unlock was part of the platform's broader strategy to manage its tokenomics and incentivize participation.

A community call on Discord took place on September 24, 2023, providing a platform for users and developers to discuss the latest updates and future plans for Euler. These community engagements are crucial for maintaining transparency and fostering a strong user base.

The launch of Euler v2 in the second quarter of 2024 represented a significant milestone. This new version introduced several enhancements aimed at improving the platform's functionality and user experience. The v2 launch was accompanied by a code audit competition in collaboration with Cantina, emphasizing Euler's commitment to security and reliability.

On August 13, 2024, Euler Finance experienced a significant price breakout, reflecting growing investor confidence and market interest in the platform. This event underscored the impact of continuous development and strategic initiatives on the platform's market performance.

Euler's collaboration with Token Terminal further expanded its ecosystem, providing users with advanced analytics and insights into the platform's performance. This partnership aimed to enhance transparency and data accessibility for users and investors.

Raising $40 million in venture capital was another pivotal event for Euler. This funding round provided the necessary resources to accelerate development, expand the team, and explore new opportunities within the DeFi space.

These key events collectively illustrate Euler's journey through challenges and achievements, shaping its position in the cryptocurrency landscape.

Who are the founders of Euler?​

Euler (EUL) is a modular lending platform enabling users to create and link customized lending markets in a permissionless manner. The founders of Euler include Michael Bentley and his team at Euler Labs, comprising Anton Totomanov, Dariusz Glowinski, Kasper Pawlowski, and Doug Hoyte. Michael Bentley, a key figure in the project, has a background in financial technology and blockchain development. Anton Totomanov, Dariusz Glowinski, and Kasper Pawlowski bring diverse expertise in software engineering and blockchain technology. Doug Hoyte, known for his contributions to open-source projects, adds significant value to the team.