Euler (EUL)
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About EUL
Euler (EUL) is the native governance token of Euler Finance, a decentralized non-custodial protocol on Ethereum that allows users to lend and borrow crypto assets. Built with a strong focus on risk management and permissionless asset onboarding, Euler aims to improve upon existing DeFi lending protocols by offering advanced features and fine-grained control over lending markets. Euler allows users to create new lending markets for any ERC-20 token without needing approval, making it one of the most flexible protocols for long-tail assets. It introduces innovative mechanisms such as reactive interest rates, risk-adjusted collateral factors, and MEV-resistant liquidations. The protocol also uses a unique sub-account system, allowing users to manage isolated positions and reduce systemic risk. The EUL token is used to govern the Euler protocol via a decentralized DAO. Token holders can propose and vote on changes such as asset listings, risk parameters, and protocol upgrades. EUL is also used to reward contributors and align incentives within the ecosystem. As a DeFi-native platform with modular design and robust security practices, Euler provides a capital-efficient and customizable alternative to legacy lending markets. Despite an exploit incident in 2023, Euler has remained committed to transparency and resilience, with security audits and community-led governance driving the protocol’s recovery and evolution.
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Frequently Asked Questions about Euler
What is Euler Finance?
Euler Finance is a permissionless, non-custodial DeFi protocol that allows users to lend and borrow ERC-20 tokens. It features advanced risk controls, isolated markets, and decentralized governance.
Where can I buy Euler (EUL) tokens?
EUL tokens can be purchased on HTX, Kraken, KuCoin, MEXC, and CoinEx. They are also traded on Ethereum-based decentralized exchanges like Uniswap, Balancer, and Matcha.
Where can I store Euler (EUL) tokens?
EUL is an ERC-20 token and can be stored in any Ethereum-compatible wallet, including Bitcoin.com Wallet, MetaMask, Ledger, Trust Wallet, and Coinbase Wallet.
What is EUL used for?
EUL is the governance token of the Euler protocol. It allows holders to vote on proposals, adjust risk parameters, and guide the future of the platform. It also supports contributor rewards.
What makes Euler different from other lending protocols?
Euler supports permissionless market creation, reactive interest rate models, risk-adjusted collateral, isolated sub-accounts, and MEV-resistant liquidation mechanisms — all designed to improve DeFi lending.
Can anyone create a lending market on Euler?
Yes. Euler allows users to list any ERC-20 token as a new lending market without needing permission from a central authority, using onchain risk assessment tools.
What is the sub-account system in Euler?
Euler’s sub-account feature allows users to create multiple isolated accounts under one address, letting them manage different strategies and reduce the risk of contagion between positions.
Has Euler been audited?
Yes. Euler underwent audits from multiple leading security firms. Following a major exploit in 2023, the team implemented recovery measures and continues to prioritize protocol security.
Is Euler fully decentralized?
Yes. Governance decisions on protocol upgrades, listings, and parameters are made by EUL token holders through the Euler DAO.
What chains does Euler support?
Euler currently operates on the Ethereum mainnet, offering deep liquidity and access to the largest pool of ERC-20 assets in DeFi.