Euler (EUL)

What is Euler (EUL)?

Euler (EUL) is a digital token operating primarily within the Euler ecosystem, a platform designed for various financial activities in the decentralized finance (DeFi) sector. As a cryptographic token, EUL functions as the native utility token of the Euler platform. It's built on Ethereum, following the widely-accepted ERC-20 token standard which ensures compatibility with a broad range of wallets and exchanges.

Euler, the platform for which the EUL token is named, is a decentralized protocol that enables users to lend and borrow a wide array of digital assets. This platform distinguishes itself by providing advanced features such as permissionless lending, where users can list any asset for lending without the need for a governance vote. Furthermore, Euler offers tools for efficient risk management and optimization of capital efficiency in DeFi operations. The project aims to contribute to the broader DeFi ecosystem by offering a user-friendly, yet intricate platform supporting various DeFi strategies.

What is Euler (EUL) used for?

EUL tokens serve several purposes within the Euler platform. They are primarily used for governance, allowing token holders to vote on proposals that shape the development, features, and policies of the platform. This might include decisions on protocol fees, upgrades, or the listing of new assets on the platform. Additionally, EUL tokens may be used in various reward structures, incentivizing users for participation and engagement with the platform, though specific use cases might evolve over time depending on governance decisions.

Who created Euler (EUL)?

Euler was founded by Michael Bentley, Doug Hoyte, and Jack Prior in 2021.