The crypto borrowing and lending an Euler Finance platform has only disrupted the defi wilderness.
This week’s protocol noticed new all-time highs in total amount locked (TVL) and total borrows-two pivotal measurements of activity for a defi lender.
Hundreds of millions of millions of crypto-dollars today under management can leave it properly in the Powerhouses of lending to the Ethereum world, such as Multibillion dollars Aave. But however noticeably -noticing for a protocol that almost went to Kaput following a $ 200 million hack Exactly two years ago.
“Many people wrote to us and said it would be normal for us to end the project there,” said Michael Bentley, CEO of Euler Labs. But his team decided to stick to it and rebuild Euler – from the beginning.
Their New vision is a highly customizable borrowing hub where people can adapt the risk, harvest, and parameters of property. This is a huge difference from the original Euler, described by Bentley as “a specific product: a lending market.”
“It’s not just a one-size-fits-all when it comes to lending and borrowing,” Bentley said.
Comeback nearly did not guarantee: while hack victims had Got their moneyBentley and his team questioned whether the market had an appetite for a protocol with a tarnished reputation.
It didn’t help that Euler usually missed the nearly 2024’s defi surge while sitting on pre-launch security reviews. Euler finally ruled its V2 in September 2024, almost a year and a half after dark.
The protocol helped return it to a relatively modest budget of incentives: a “several million” dollar worth of Eul tokens to restore people, at a time when he claimed competitors offered tens of million dollars more., Said Bentley, who linked most of the growth in “product-based” product. “
Even today, as Ether – a critical collateral owner for lending platforms throughout the Ethereum Defi – continues to spin the price, Euler continues to grow. This is just one of two lending protocols in the top 10 to see the growth in active loans in the last month.
If it ends up being a bear market I’m still confident, Euler V2 has been given success to this day, the Euler will still grow in connection with some more opportunities there, “Bentley said.
