Euler
AuditedVerifiedEuler is a modular Ethereum lending protocol whose Ethereum Vault Connector (EVC) and Euler Vault Kit (EVK) let anyone deploy a customized lending market; relaunched as v2 in 2024 after a fully recovered March 2023 exploit.
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Score history
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The Problem
Monolithic lending pools force every depositor to share systemic risk with every borrower; risk curation, asset listings, and parameter changes move slowly through DAO governance. Capital is bottlenecked behind a single risk envelope.
The Solution
Euler v2 decomposes lending into independent ERC-4626 vaults connected by the immutable EVC. Anyone can deploy a vault with custom risk parameters, oracles, and curator. Users pick the vault that matches their risk tolerance.
Why it Matters
Modular lending architecture (EVC + EVK) — distinct from Aave's monolithic pool and Morpho Blue's single-pair markets. Each vault is independently governed and can use any other vault as collateral. Backed by a $7.5M Cantina bug bounty and a rewritten, formally verified codebase.
Protocol Metrics
Related Research
View allFrequently asked questions about Euler
What is Euler?+
Euler is a Lending protocol operating on Ethereum, Arbitrum, Base, BNB Chain, Avalanche, Linea, Sonic, Berachain, Unichain, Monad, Plasma, Hyperliquid L1, BOB, Swellchain, TAC, Mantle. Euler is a modular Ethereum lending protocol whose Ethereum Vault Connector (EVC) and Euler Vault Kit (EVK) let anyone deploy a customized lending market; relaunched as v2 in 2024 after a fully recovered March 2023 exploit.
How does Euler work?+
Euler v2 decomposes lending into independent ERC-4626 vaults connected by the immutable EVC. Anyone can deploy a vault with custom risk parameters, oracles, and curator. Users pick the vault that matches their risk tolerance.
Is Euler safe?+
DeFi Sentinel rates Euler AA with a safety score of 89/100, indicating very low risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Euler has 7 audits on record. DeFi Sentinel's analysis flagged 3 medium, 3 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization and Sustainability & Competitive Position. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Euler?+
Euler has a DeFi Sentinel safety score of 89/100 (rating AA), last updated September 16, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Euler support?+
Euler is deployed on Ethereum, Arbitrum, Base, BNB Chain, Avalanche, Linea, Sonic, Berachain, Unichain, Monad, Plasma, Hyperliquid L1, BOB, Swellchain, TAC, Mantle.
Has Euler been audited?+
Yes. Euler has 7 audit reports on record from firms including OpenZeppelin, Spearbit, Certora. Audit reports and dates are linked under the Resources tab on this page.