Euler is a non-custodial permissionless lending protocol on Ethereum that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party.Euler comprises a set of smart contracts deployed on the Ethereum blockchain that can be openly accessed by anyone with an internet connection. Euler is managed by holders of a protocol native governance token called Euler Governance Token (EUL). Euler is entirely non-custodial; users are responsible for managing their own funds.Lending and BorrowingWhen lenders deposit into a liquidity pool on Euler, they receive interest-bearing ERC20 eTokens in return, which can be redeemed for their share of the underlying assets in the pool at any time, as long as there are unborrowed tokens in the pool (similar to Compound's cTokens). Borrowers take liquidity out of a pool and return it with interest. Thus, the total assets in the pool grows through time. In this way, lenders earn interest on the assets they supply, because their eTokens can be redeemed for an increasing amount of the underlying asset over time.Tokenised DebtsSimilarly to Aave's debt tokens, Euler also tokenises debts on the protocol with ERC20-compliant interfaces known as dTokens. The dToken interface allows the construction of positions without needing to interact with underlying assets, and can be used to create derivative products that include debt obligations.Rather than providing non-standard methods to transfer debts, Euler uses the regular transfer/approve ERC20 methods. However, the permissioning logic is reversed: rather than being able to send tokens to anyone, but requiring approval to take them, dTokens can be taken by anyone, but require approval to accept them. This also prevents users from "burning" their dTokens. For example, the zero address has no way of approving an in-bound transfer of dTokens.Protected CollateralOn Compound and Aave, collateral deposited to the protocol is always made available for lending. Optionally, Euler allows collateral to be deposited, but not made available for lending. Such collateral is 'protected'. It earns a user no interest, but is free from the risks of borrowers defaulting, can always be withdrawn instantly, and helps protect against borrowers using tokens to influence governance decisions or take short positions.Defer LiquidityNormally, an account's liquidity is checked immediately after performing an operation that could fail due to insufficient collateral. For example, taking out a borrow, withdrawing collateral, or exiting a market could cause a transaction to be reverted due to a collateral violation.However, Euler has a feature that allows users to defer their liquidity checks. Many operations can be performed, and the liquidity is checked only once at the very end. For example, without deferring liquidity checks, a user must first deposit collateral before issuing a borrow. However, if done in the same transaction, deferring the liquidity check will allow the user to do this in any order.Feeless Flash LoansUnlike Aave, Euler doesn't have a native concept of flash loans. Instead, users can defer their liquidity check, make an uncollateralised borrow, perform whatever operation they like, and then repay the borrow. This can be used to rebalance positions, build-up leveraged positions, take advantage of external arbitrage opportunities, and more.

Base Ecosystem

Berachain Ecosystem

Ethena Ecosystem

Ethereum Ecosystem

Euler Raises $8M in Series A Funding

Announcement of Euler’s $32 million funding round led by 
HaunVentures

Euler Protocol Users

Treasury

Retroactive Distribution

EulerDAO Partners

Euler Labs Shareholders

Project Incubators

Employees & Advisors

Euler

Euler is a non-custodial protocol that allows users to lend and borrow crypto assets.

Myria

Morningstar Ventures

Moonrock Capital

The Spartan Group

GBV Capital

Waterdrip Capital

Vendetta Capital

Ascensive Assets

Hypersphere Ventures

Blizzard Fund

Woodstock Fund

Figment Capital

Axia8 Ventures

CoinGecko Ventures

Nexo

Everclear (prev Connext)

Kosmos Ventures

Impossible Finance

Nabais Capital

AVentures DAO

Subsquid

3 Chaps Capital

StakeBorg

Ganesh Swami

Erik Ashdown

Derek Yoo

Aurel Iancu

Delroy Bosco

Alex Smirnov

Batuhan Dasgin

Michael Chen

Etienne

Danish Chaudhry

Alchemy

Bware Labs

Electric Capital

DragonFly Capital

Balaji Srinivasan

LedgerPrime

Jump Crypto

Wintermute

Coinbase Ventures

Altonomy

Kraken Ventures

Fabric Ventures

Space Whale Capital

Kronos

Evernew Capital

Meltem Demirors

Tatiana Koffman

Jason Choi

Anthony Sassano

Alameda Research

Galaxy

IDEO CoLab Ventures

Arrington XRP Capital

gumi Cryptos

Hashflow

GameOn Forge

Blockchange Ventures

Big Brain Holdings

coinIX

Castrum Capital

Outlier Ventures

Kangaroo Capital

Maven Capital

FinSec Innovation Lab

Kima Network

Sociapol

PUMLx

SpaceN

The Chernin Group (TCG)

YGG SEA

Sfermion

Astronaut Capital

Bondly

Double Peak 

Formless Capital

MoonEdge

PANONY

Perion

Rarestone Capital

18 Ventures

Avocado DAO

Gerstenbrot Capital

HTX Ventures

KuCoin Labs

MEXC

PKO Investments

Polkastarter

Zokyo

Kevin Lin

Kun Gao

Matt Finick

Animoca Brands

Peak XV Partners(ex-Sequoia India)

SkyVision Capital

Galaxy Fight Club

Gain detailed information about %name% %code% unlock and vesting. Use our token unlock calendar for planning and optimizing your investments. Explore tokenomics and how it's changing with our token distribution chart. Stay updated on unlock events and receive notifications for effective crypto asset management

%name% %code% Token Unlocks and Vesting: Schedule and Tokenomics

Name	Total	Unlocked	Locked
Euler Labs Shareholders	25.9%	25.8%	-
Euler Protocol Users	25%	-	-
Employees & Advisors	20.6%	16.9%	3.79%
Treasury	13.8%	13.8%	-
EulerDAO Partners	9.67%	9.67%	-
Project Incubators	4.00%	4.00%	-
Retroactive Distribution	1.00%	1.00%	-

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