Euler.Unlimited lending protocol
In this article, I want to introduce you to Euler’s project.
The article will present the main features of the project, as well as links to the official resources of the project for a more detailed study. So let’s finally get started.
Euler is an unlimited lending protocol. It is built on top of other popular protocols such as Compound and Aave, but at Euler we can create our own markets for ERC-20 tokens and offer innovative reactive interest rate models.
Project Team Members: Michael Bentley, Jack Leon Prior, Doug Hoyte, Mick de Graaf
Euler began its activity by winning the Encode Club “Spark” university hackathon, and already in August 2021 they collect 8 million investments from such investors as: Euler started out by winning the Encode Club “Spark” university hackathon, and already in August 2021 they are raising 8 million investments from investors such as: LAUNCHub Ventures, CMT Digital, Divergence Ventures, Block0 and Cluster, as well as Luke’s influential angels. … Coinbase’s Youngblood, Richard Burton and Josh Buckley, Product Hunt CEO.
Key features of the Euler protocol :
- Reactive interest rates: interest rate models backed by control theory ensure that money markets on Euler adapt to volatile market conditions in real-time without the need for governance intervention.
- Risk-minimised: Euler secures the protocol by tailoring the borrowing capacity of users to the risk profiles associated with the assets they want to borrow and use as collateral.
- List any asset: powered by Uniswap’s decentralised time-weighted average price oracles, Euler is allowing users to create their own lending/borrowing markets for almost any Ethereum ERC20 token.
- EulerDAO and the $ EUL token will also be created, thanks to which users will have the right to vote and the right to receive awards from the protocol commissions.
On December 13, 2021, the main network was launched.
Despite the fact that the project has passed the code audit (more details here), the developers continue to test the project and not all functions may be available at the moment, in January 2022 it is planned to start the full operation of the protocol. Now you can start working with the protocol on the Etherum network here https://app.euler.finance/ . If you are a beginner, you can practice on the testnet first here https://ropsten.euler.finance/
Summing up, I would like to note that, in my opinion, the project is really promising, I would like to wish good luck to his team, I will continue to observe the project.
To write the article, materials from the official channels of the project were used. Below is a list of channels, join so as not to miss the news.
