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DeFi has been one of the key drivers of the decentralized narrative. Legacy protocols like Aave, Maker, and Uniswap dominate the sector, and each cycle brings new projects attempting to challenge their position. With DeFi becoming mainstream and more accessible, many innovative projects are now on the horizon.
Euler is a next-generation decentralized lending protocol built with a modular design that enables users to create tailored markets for lending, borrowing, and trading. By offering unmatched flexibility and composability, Euler sets itself apart from traditional lending protocols like Aave and Compound.
The platform operates on two core components:
1. Euler Vault Kit (EVK): A development toolkit allowing users to create custom ERC-4626 vaults, tailored to specific use cases such as collateralized lending or synthetic asset creation.
2. Ethereum Vault Connector (EVC): A foundational primitive enabling interoperability between vaults, allowing deposits in one vault to be used as collateral across others.
This modular architecture ensure scalability, customization, and new market opportunities, making Euler a versatile and innovative DeFi platform.
▨ Key Features and Benefits
 Permissionless Market Creation: Builders can deploy customized vaults with ease, enabling the creation of diverse lending products and synthetic assets.Advanced Risk Management: Tools like sub-accounts, liquidation cost reduction, and P&L simulators provide users with better control over their positions.Composability: Vaults can interact with external protocols, including stablecoin liquidity pools and real-world assets, boosting ecosystem flexibility.Lower Liquidation Costs: Borrowers enjoy reduced collateral losses thanks to the platform's innovative reverse Dutch auction mechanism.
▨ Why Euler Could Be the Next Big DeFi Bet
Euler is a modular DeFi lending platform enabling users to permissionlessly create tailored markets. It supports features like multi-collateral support, aggregated vaults, and oracle flexibility for enhanced capital efficiency. 

After launching in September, Euler’s TVL grew quietly but gained momentum in the last 30 days, growing 38x to a peak TVL of $249M. Earlier this week, it took another big step forward by launching on Base, opening the door for more users to join.

Euler's modular design, focused on flexibility, has driven a ~30x surge in active loans to $100M+ with markets such as Resolv, Euler Yield (stablecoin looping), and Apostro BTC (leveraged BTC staking). Additionally, Gauntlet, a risk modeling firm, now manages risk for Euler Prime, Euler's flagship lending market.

Euler has seen a surge in its active user base, with a 758% jump to 3,580 users in the last month. To encourage further participation, Euler recently rolled out an incentive program, rewarding users with a 1:1 version locked of the EUL token to users who supply assets in selected markets.

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