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.
Two-tier competitive set for a Lending entity: on-platform peers are clickable and comparable, off-platform names are context only.
Euler maintains a consolidated security page listing its audit set at euler.finance/#security, the link recorded in the DefiLlama API record. Individual firm names and report dates were not resolvable from a fetched page: `n.a.`
Percentile rank against the 12 on-platform Lending entities (snapshot as of 2026-07-27). Supply and borrow APY are omitted: no source covers the whole cohort, and a single-market rate would misrepresent a protocol-level number.
$328.9m · rank 6 of 12
$605.2m · rank 4 of 9 reporting (cohort 12)
16 · rank 3 of 12
Listed 2024-08-26 · rank 8 of 11 reporting (cohort 12)
- Unverified (no structured audit metadata)
The full on-platform tag cohort. Rows marked direct carry a curated competitor relationship; borrowed can exceed TVL where DefiLlama nets borrowed collateral out of supplied.
Savings for Everyone: open-source non-custodial liquidity protocol.
TVL $14.17Blive
Borrowed $10.95B
22 chains
Customizable lending infrastructure: isolated markets + curated vaults.
TVL $7.85Blive
Borrowed $4.09B
41 chains
Simple, battle-tested money markets (Compound III).
TVL $1.22Blive
Borrowed $571.4M
9 chains
Stablecoin-native credit stack tied to the Sky/Maker ecosystem.
TVL $4.58Blive
Borrowed $1.87B
9 chains
Largest risk curator in DeFi lending.
TVL books under Morpho, Euler and Kamino vaults
TVL $3.17Blive
Borrowed -
9 chains
Money market where collateral keeps its native rights.
TVL $224.6Mlive
Borrowed $274.7M
7 chains
Soft-liquidation CDP dollar.
TVL $138.8Mlive
Borrowed $41.7M
4 chains
Immutable, governance-minimized CDP dollar.
TVL $71.1Mlive
Borrowed -
1 chain
Credit pool funding market-maker inventory.
TVL $30.9Mlive
Borrowed $17.0M
7 chains
Institutional credit desk concentrated on Arbitrum.
TVL $21.6Mlive
Borrowed -
4 chains
Omnichain money market via LayerZero.
TVL $585.9Klive
Borrowed $217.7K
4 chains
Context-setting competitors outside the EVM DeFi scope: named for completeness, not tracked, not clickable.
62.25% share of tracked CeFi lending, Q1 2026
7.02% CeFi market share Q1 2026
Loan book grew $90.04m in Q1 2026, distributes Steakhouse-curated Morpho USDC lending to retail
Contracted 21% in Q1 2026
Historically third-largest CeFi lender
Loan books fell 6% QoQ to $23.3bn in Q1 2026, first contraction since Q3 2024
Roughly $3.2bn TVL, the main non-EVM benchmark
Drove Solana past $2.1bn of active loans in May 2026
Prime engine covers roughly 98% of Solana lending TVL
Pick up to 3 same-tag peers. Metric values are snapshot figures as of 2026-07-27.
0 of 3 selected
Select at least one peer to render the matrix.
Tag cohort plotted on two selectable axes. Risk composite comes from the M7 documented-risk derivation and is only defined for rated entities; it is a documented-risk load, not a safety score, and is never compared across tags.
