The Euler protocol experienced a security breach. Use the Redemption Form to recover your assets.

Democratising the assets people can lend and borrow

Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset.

White paper Developers

What makes Euler different?

Euler innovations

Permissionless listing

Euler lets its users determine which assets are listed; any asset that has a WETH pair on Uniswap v3 can be added.

Asset tiers

Euler uses a system of asset tiers to help maximising capital efficiency on the protocol without increasing systemic risk.

Reactive interest rates

Euler uses interest rate models backed by control theory to minimise governance and target a cost of borrowing that maximises capital efficiency.

MEV-resistant liquidations

Euler uses a Dutch auction coupled with a discount booster for liquidity providers to help limit value extraction from liquidations.

Protected collateral

Euler allows users to withhold their collateral from borrowers, limiting trading risks, short selling opportunities, and governance manipulation.

Multi-collateral stability pools

Euler provides stability pools where lenders can passively swap their tokens for a discounted basket of collateral assets during liquidations.

Psst... free alpha! The Euler white paper details many other exciting innovations on the protocol, including feeless flash loans, user sub-accounts, a transaction builder, and much more.

White paper

View audit history

Euler security

We use Certora's powerful prover technology to formally verify the correctness of the Euler smart contracts on an ongoing basis. An audit from their team is available here.

We asked the Halborn team to audit the Euler smart contracts. The results from their analysis can be found here.

We asked the Solidified and ZK Labs teams to partner up to audit the Euler smart contracts. The results from their analysis can be found here.

We partnered with Sherlock Protocol in a $10M collaboration which includes an audit report and a $1M ImmuneFi bug bounty that will increase the protection and security of our users.

We asked Omniscia to review the Euler codebase in relation to mining and staking contracts and Chainlink support being introduced to the system.

Pen Test Partners

Pen Test Partners conducted a penetration test of Euler's web app. The results from their audit can be found here.

Report a bug Bug bounty

Euler Blog