Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third party. Users can list any WETH paired asset from Uniswap v3 which will be tiered on Euler based on several risk factors. Crypto assets on Euler benefit from on-chain decentralized price feeds through Uniswap’s time-weighted-average price (TWAP) oracles, which also aids in ensuring Euler’s unique reactive interest rates which maximize capital efficiency on the platform. Euler takes pride in creating a user-first environment by optimizing gas costs and MEV resistant liquidations, enabling subaccounts and tokenized debts, and support for stability pools and fee-less flash loans, among many other features.
Started last year following a hackathon that allowed the different founders to get together, the project has been incubated by Encode Club, a blockchain developers community. The platform offers a secure and decentralized experience and even if the protocol has not been launched yet, it is already backed by multiple code audits from Halborn Security, ZK Labs, and Solidified. The team raised earlier this year the amount of $8M to accelerate the development of the protocol and hire more developing force to prepare for the launch on mainnet later this year. We’re looking forward to the release of the protocol’s code in future times to be able to better judge the protocol. There is no token out yet.