Modular Vaults For All: Euler Finance

2024 was a busy year for Euler Finance, working tirelessly to reinvent the product as they introduced Euler 2.0, the reinvention of their modular learning platform. And now, it finally made its debut on Base.

Here’s a rundown on Euler and a some reward opportunities for early birds to the platform:

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Euler: Marketplaces For The Masses

For starters, Euler is described as “a modular lending platform on Ethereum that enables users to lend, borrow and build without limits.” This means it’s more than a simple lending and borrowing platform. In fact, it’s a full-on toolkit! 

With Euler’s Vault Kit, developers can create permissionless marketplaces that can then be customized with the parameters they wish, or use premade vault types that suit various types of use cases.

For example, governed vaults feature risk managers controlling parameters like risk or interest rates. Their deposits can be collateral or borrowed, meaning the depositors get extra yield. 

They’re perfect for more passive lenders who trust the governors in charge of their parameters.

Meanwhile, ungoverned vaults have no governor and only fixed parameters, meaning they’re great for users who know what they want and want to manage their risks themselves.

Euler features a few more vault types: You can find out more on their docs.

Another great feature of Euler is the Euler Vault Connector (EVC). With the EVC, anyone can build an app in the Euler ecosystem for lending, margin trading, and more.

With support for ERC20 tokens and other miscellaneous assets such as RWAs, NFTs and synthetics, creating more apps working with the EVC will strengthen the Euler ecosystem and provide better yields.

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Based Rewards with Euler, Kelp and Contango

With Euler now available on Base, the team behind it has launched initiatives to reward early users of the protocol.50k in $rEUL incentives has been added to Euler, distributed to users who supply specific assets:

• $25K rEUL for USDC,

• $10K rEUL for WETH,

• $10K rEUL for cbBTC,

• $5K rEUL for EURC

Other protocols are also participating in these initiatives, offering other rewards to those who interact with Euler.

One of these is KelpDAO: it offers up to $5K worth of rEUL rewards when supplying rsETH on Euler, and up to 1.5x Kelp Miles!

For the more cautious users, Contango offers stable USDC/USDT pairs with up to 12x leverage and rEUL rewards:

• USDC/USDT,

• wUSDM/USDC,

• PYUSD/USDC,

• USDe/USDC.

Euler promises flexibility and opportunities not only in terms of app-building, but also in lending/borrowing and in rewards. Why don’t you try it yourself?

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