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.
$197m flash loan attack 13 March 2023 on V1, funds substantially returned; V2 is a full rewrite.
Past incidents and how they transmitted to this network.
V1 flash-loan attack
A $197m flash-loan attack exploited a missing health check in Euler V1's donation function.
