What is Euler (EUL)?
Euler is a decentralized lending protocol built on Ethereum that enables flexible and permissionless borrowing and lending across a range of crypto assets. Unlike traditional DeFi platforms, Euler allows users to create their own isolated markets for ERC-20 assets. By separating assets into independent lending pools, the project minimizes contagion risks from volatile or illiquid tokens, allowing both established and emerging assets to coexist securely within the same ecosystem.
At the heart of Euler’s architecture are isolated risk vaults and a suite of tools that give users and developers greater flexibility in managing capital. The protocol’s Euler Vault Kit (EVK) allows anyone to design and deploy custom lending strategies or collateralized debt strategies. Meanwhile, the Ethereum Vault Connector (EVC) facilitates interactions between vaults via the ERC-4626 standard, enabling advanced cross-market functionality without compromising security. To ensure accurate pricing and reduce manipulation risks, Euler combines oracle data from Chainlink and Uniswap v3.
EUL is the native governance token of Euler. It grants holders voting power over key protocol parameters, including interest rate models, collateral requirements, and market configurations. A portion of the platform’s fees are distributed through weekly Fee Flow auctions, where users can bid EUL tokens to claim USDC rewards. In addition, participants can also lock their tokens as rEUL to enhance their governance influence and earn additional incentives.
The circulating supply of EUL token is 20.69 million, with a total supply of 27.18 million tokens.
EUL token is listed on Binance for trade and purchase. The current price of EUL is available and updated in real-time on Binance.
