Credit · Lending · EUL
Euler V2 is a modular lending kernel: anyone can deploy an isolated vault with its own oracle, LTV and interest-rate model, and link vaults into borrowable clusters. It is a money market in the strict sense, with $602,588,217 borrowed as of 26 July 2026 (DefiLlama API).
Permissionless modular lending vaults.
Protocol TVL
Latest data
Market cap
Latest data
Coins under Euler V2
Member products
On-chain + off-chain aggregates across member coins
Protocol TVLDeFi Llama
$325.0M
Consistent cross-network snapshot · synced 5h ago
Price
Token market (secondary)
Euler V2 is a modular lending kernel: anyone can deploy an isolated vault with its own oracle, LTV and interest-rate model, and link vaults into borrowable clusters. It is a money market in the strict sense, with $602,588,217 borrowed as of 26 July 2026 (DefiLlama API). Permissionless vault creation with cross-vault borrowing means Euler competes as lending infrastructure that third parties build markets on, not as a single curated market. Total supplied $325.03m; total borrowed $602,588,217, of which Ethereum $313,151,621, Plasma $110,283,049, Monad $94,690,755, Avalanche $38,330,016 and Sonic $20,821,132, as of 26 July 2026 (DefiLlama API). Utilisation, supply APY, borrow APY and current bad debt: `n.a.`
