DeFi protocol (you keep your wallet, funds sit in a smart contract)
Euler v2B3/5· Medium risk
Facts last reviewed 27 Sept 2026
A modular lending vault platform, launched in 8/2024, audited by many firms and offering a bug bounty of up to USD 7.5 million. Third-party curator vaults incurred bad debt from xUSD (11/2025); Euler v1 was hacked for USD 197 million in 2023, but users were fully reimbursed.
Compare a move (switching cost) →History: published and paid rates, incidents, legal status →
Why this tier
- Falls short: Operating since 2024-08, under 3 years
- Meets: Audited by 10 firms: Spearbit, Cantina, Certora, ChainSecurity, OpenZeppelin, Omniscia, Enigma Dark, yAudit/Electisec, Trail of Bits, Hunter Security
- Meets: Bug bounty programme (Cantina, up to $7.5M)
- Falls short: TVL $302.3M, below $1B
- Meets: No material uncovered losses in the core product (incidents in isolated products or under $1M are listed separately)
- Note: Risk of the asset itself: Vaults are permissionless: depositors bear the risk of each vault curator/governor’s collateral choices, oracle, and parameters; bad debt is allocated to vault share value. Some vaults may be upgradeable.
- Note: TVL fell sharply in 2026 (approximately USD 354 million on 27/9/2026), with approximately 74% on Monad.
Tier history
- 29 Sept 2026B· Medium riskMedium risk
Products
| Coin | You earn | Highest rate | Tier | Product | Term | Conditions |
|---|---|---|---|---|---|---|
| ETH | 1.21% | Highest rate1.21% | B3/5· Medium risk | euler-v2 · Monad · K3 Capital Earn WETH | FlexibleWithdraw any time |
ETHTier: A lowest risk, D active incident. The number after the letter is the criteria met.