What is Euler Finance?
Euler Finance is a decentralized, non-custodial lending protocol built for permissionless credit on Ethereum and other chains. Its core innovation lies in its modular vault architecture, enabled by the Euler Vault Kit (EVK), which allows anyone to deploy isolated ERC‑4626-compatible lending markets for virtually any token. The Ethereum Vault Connector (EVC) facilitates cross-market collateralization, enabling seamless borrowing across vaults.
Each vault is independent—controlling collateral, interest, and liquidation logic—so risks are contained and capital is allocated more efficiently. Institutional-grade features include customizable interest rate models, oracle support, MEV-resistant liquidations, and dynamic supply-driven pricing.
Euler V2 rebuilt the protocol from scratch after its 2023 flash-loan incident, launching with robust security and a revamped architecture focused on flexibility and resilience. With integrated reward streams, permissionless market creation, and support for long-tail assets—including real-world tokens—Euler aims to be the “credit layer of on-chain finance”.
