Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on almost any ERC20 asset. This innovation, coupled with MEV-resistant liquidations, tokenised debts, reactive interest rates and many more, makes Euler the lending protocol of the future.
While other protocols only offer a small selection of assets, Euler empowers users to easily create their own markets for any Ethereum ERC20 token. By opening up lending/borrowing markets to any token, Euler unlocks the money market value of the entire crypto industry.
Euler allows users to put on gas efficient one-click leveraged long and short positions on any collateral vs collateral asset pairs and one-click leveraged short positions on any collateral vs non-collateral pairs.
MEV RESISTANT LIQUIDATIONS
Euler makes liquidations open-access and incentivizes users to perform this function by offering collateral assets at a discount rate through a process similar to a Dutch auction where liquidation incentives grow as the position becomes unhealthy. The Dutch auction leads to fewer bidding wars amongst miners and hence lower gas fees.
Euler’s “soft liquidation” process pays off an amount that brings the health score back into the green rather than liquidating half of their debt like on other lending protocols. This greatly improves the experience for borrowers.
Users can collateralize assets as “protected” PTokens which can’t be loaned out, but provide additional safety without the worry of a pool becoming insolvent, at the expense of not earning any interest.
Euler will become a decentralized autonomous organization called Euler DAO and offer governance tokens (EUL) through a distribution scheme program that incentivises lending and borrowing.
Find out more on https://euler.finance/
Check out our whitepaper https://docs.euler.finance/getting-started/white-paper
Follow us on Twitter https://twitter.com/eulerfinance
Commenting on the potential of the Euler project Editor in Chief at Cryptonaire Weekly Mr Karnav Shah said “Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset. We are pleased to discuss this important project and hope to share more about its journey in the coming weeks.”
Hopefully, you have enjoyed today’s article for further coverage please check out our Crypto Blog Page Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.