EUL Euler Rank #739 $1.01 ▼ 0.69%

Euler (EUL) is a decentralised finance (DeFi) lending protocol designed to operate without the centralised intermediaries found in traditional finance. Rather than relying on banks to connect lenders with borrowers, Euler uses smart contracts deployed across multiple blockchain networks to facilitate permissionless lending and borrowing activities. The protocol positions itself as a successor to earlier-generation DeFi lending platforms such as Compound and Aave. While those first-generation protocols restricted their offerings to the most liquid ERC-20 tokens and employed permissioned listing systems to mitigate risk, Euler is custom-built to support a wider range of crypto assets, including more illiquid or volatile tokens that legacy platforms tend to avoid. Euler enables users to deposit assets to earn yield or take leveraged long positions, while borrowers can access liquidity to hedge exposure or take leveraged short positions. EUL serves as the governance and utility token associated with the protocol, supporting decisions about parameters, listings, and treasury management across its deployments spanning the Ethereum, Arbitrum, BNB Chain, Avalanche, Base, Berachain, Sonic, Unichain, and several other blockchain ecosystems.