About the coin

Euler is a decentralized finance (DeFi) protocol that facilitates the lending and borrowing of crypto assets without the need for traditional financial intermediaries like banks. It operates on the Ethereum blockchain, providing a trustless and permissionless environment for users to engage in financial activities. Euler aims to address the limitations of first-generation DeFi lending protocols by allowing users to lend and borrow a broader range of tokens, including those that are less liquid or more volatile.

Main features

Euler introduces several innovative features to enhance the lending and borrowing experience in the DeFi space. Unlike earlier protocols such as Compound and Aave, which focus on a limited selection of highly liquid ERC20 tokens, Euler is designed to accommodate a wider variety of assets. This is achieved through a permissionless listing system that allows users to engage with a diverse array of tokens while managing associated risks. Euler's platform is built to support both lending and borrowing activities, enabling users to earn yield on their deposits and take leveraged positions, whether long or short.

How it works

Euler operates as a smart contract-based protocol on the Ethereum network. Users can deposit their crypto assets into the protocol to earn interest or use them as collateral to borrow other tokens. The protocol's permissionless nature means that users can interact with it without needing approval from a central authority. Euler's design incorporates risk management mechanisms to protect users from the potential volatility and illiquidity of certain assets. By leveraging blockchain technology, Euler provides a secure and efficient platform for decentralized lending and borrowing, expanding the possibilities for users to engage with a wider range of crypto assets.