Euler is the first lending protocol that allows users to create their own lending markets in a permissionless fashion.
Euler helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party.
Euler was founded in 2020 by Michael Bentley, Doug Hoyte, and Jack Prior. The company is headquartered in Oxford, UK.
Euler features a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans and much more.
Euler lets its users determine which assets are listed; any asset that has a WETH pair on Uniswap v3 can be added. Euler uses interest rate models backed by control theory to minimise governance and target a cost of borrowing that maximises capital efficiency.
Euler provides stability pools where lenders can passively swap their tokens for a discounted basket of collateral assets during liquidations.
Euler is backed by Paradigm, Haun Ventures, Variant, FTX Ventures, Coinbase Ventures, Jump Crypto, Jane Street, Uniswap Labs Ventures, and others. The company raised $32M in a new round on Jun 07, 2022. This brings Euler's total funding to $40.8M to date.