It enables users to lend and borrow liquid ERC-20 tokens and volatile crypto assets not available from the first-generation DeFi protocols such as Aave by allowing its users to decide which assets are to be listed. The volatility is mitigated by using risk-based asset tiers and a non-custodial protocol where its users manage their own funds. It forms a great appeal in the decentralized finance ecosystem by facilitating permissionless lending, reactive interest rates, and protected collateral. Holders of the token access voting powers of the protocol software while a certain amount of the token is required to present formal proposals for changes in including an asset tier, collateral and borrow factors, reactive interest rate model parameters, price oracle parameters, reserve factors, and governance mechanisms.
A Bit About Euler
A team of software engineers and quantitative analysts, Dr. Michael Bentley, Jack Leon Prior, and Doug Hoyte developed the token as part of the finance protocol. The token facilitates a permissionless money market with reactive interest rates for ERC-20 tokens. It also supports protected collateral, MEV-resistant liquidations, multi-collateral stability pools, and asset tiers. EUL also gives voting rights to effect changes in the protocol software as a governance token. Holders with more tokens present proposals to alter asset tiers, price oracle parameters, reactive interest rate model parameters, reserve factors, collateral and borrow factors, and governance mechanisms. The token is distributed to borrowers in selected markets on the protocol. Additionally, you can only receive the token distribution through borrowing; no free tokens exist.
Enabling lending and borrowing on almost any crypto asset! CryptoLists.com
This token is an ERC-20 utility token that complies with the Ethereum network. As the native token of the Finance protocol, it facilitates permissionless lending and borrowing of liquid ERC-20 tokens as well as volatile crypto assets by introducing risk-based asset tiers. Euler (EUL) is also the governance token of the protocol software where holders earn voting rights. Holders surpassing a certain number of tokens can propose amendments on asset tiers, collateral and borrow factors, price oracle parameters, reserve factors, reactive interest rate model parameters, and governance mechanisms. The token has a total supply of 27,182,818 in honor of Euler's number, e. The initial four-year breakdown of the token's total supply is 25% to users who borrow on markets selected by the protocol community over four years, 1% is dedicated to depositors and borrowers during its soft launch, and 25% goes to the protocol's treasury. The protocol's Lab shareholders receive 25.85% while 9.67% is to its DAO. The protocol has an early project incubator, Encode, that receives 4% while 20.65% is committed to the Labs' consultants, advisors, and staff members. Notably, users of the protocol may vote to alter the token's distribution and enact governance proposals to inflate its supply after the first four years. The token is distributed to borrowers on the platform depending on the market where they stake the token.
Utility of Euler?
The token is used to control the protocol's governance and anticipate the long-term bullish changes contributing to innovation and success. Those that own the token gain control as they manage their funds on the platform and can make decisions on governance concerning the protocol. Holders can propose upgrades to the protocol or vote on the proposal of others, including future choices and the token's distribution in the protocol gauges.
The token holders can vote to liberate assets from the isolation tier and promote them to cross-tier or collateral-tier via governance mechanisms. The holders can therefore use the token to promote investments up the tiers, increasing the platform's capital efficiency. Lenders and borrowers can utilize the tokens and capital freely.
Euler Price detailsETH Contract address: 0xd9fcd98c322942075a5c3860693e9f4f03aae07b
›› Details & Tokenomics
Advantages of Euler+ Euler facilitates non-custodial management of funds.
+ It facilitates permission-less lending and borrowing in the protocol.
+ The EUR token provides reactive interest rates in its operations.
+ It also enables MEV-resistant liquidations.
+ The token is utilized in governing the protocol through proposals and voting rights.
Disadvantages- The EUL token is relatively new and still adapting to the market.
- Risky for lenders and borrowers when promoting assets up the tiers.
- Euler is susceptible to volatile market conditions.
- It's not beginner-friendly and more suitable for advanced crypto users.
- Unfavourable governance decision can alter the token's performance.
Costs▪ Rated at 8.1/10
The token provides feeless flash loans as users only incur a fee on the time value of money while flash loans are not held for any amount of time. Users will only incur gas costs which are relatively cheap for internal token transfers. Other transaction costs depend on the wallet and exchange to facilitate the trade. Additionally, the prices change based on whether a user is borrowing or lending the money using the protocol.
Reputation and Buzz▪ Reputation rated at 7.9/10
▪ Buzz rated at 8.4/10
The token is a new entry to the permissionless lending and borrowing DeFi space alongside Aave and Compound with added features that excites its users. It supports the lending and borrowing of liquid ERC-20 tokens as well as other volatile crypto assets. This is mitigated through asset tiers. This gives users access to an increased variety of tokens. Users are also responsible for the management of their funds. The token's governance role enables holders to steer the project with proposals and voting rights enabling it to be community driven. The token is good as it assists in verifying security audits and scouring the platform and makes a next-generation lending protocol with many benefits. On Twitter, the follower count is gradually increasing as users gain confidence in the DeFi platform, and their token will facilitate incredible innovations in the protocol.
On which exchanges is the token available?
It is currently available on three exchanges that you'll find at the bottom of the page.
Can I claim EUL tokens?
You can claim them by clicking the Claim button in the navigation bar and acquiring all claimable tokens from previous epochs.
What is the distribution of the tokens for borrowers?
The tokens staked in the gauges determine the distribution, but markets not in the top 10 staked are not eligible for token distribution.
History of Euler
June 22nd 2022 - EulerDAO delegates page goes live.
June 26th 2022 - The total amount of holders soon after launch reaches 1400.
June 29th 2022 - User can begin to stake their EUL tokens and redistribute to their favorite markets.