Euler (EUL)

The protocol serves users who want to supply digital assets to earn interest, borrow against collateral, hedge exposures, or build leveraged positions without relying on a bank or central intermediary. Like other non-custodial DeFi systems, Euler runs through smart contracts, so users interact directly from crypto wallets and retain control of their assets subject to the rules of the protocol.

Euler’s distinctive focus is risk segmentation. Its design includes mechanisms that separate assets by collateral and borrowing risk, helping prevent fragile markets from endangering the wider system. The project has also developed infrastructure such as vault-based lending components and connector tools that aim to give developers more flexibility when building lending products.

EUL is the governance token associated with the Euler ecosystem. It gives holders a way to participate in decisions over protocol parameters, upgrades, and broader development priorities. For investors and DeFi users, Euler represents a specialised attempt to expand on-chain credit markets beyond the most liquid tokens while maintaining a framework for managing the risks that come with permissionless access.