What is Euler (EUL)?
Euler is a decentralized lending protocol that enables users to earn interest on their cryptocurrency assets while managing market volatility, without the need for a trusted intermediary. This innovative platform is also known for its capital efficiency and offers various unique features such as permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, and more, which are not commonly found in decentralized finance (DeFi).
How Euler (EUL) Works
Listing without permission can be risky on decentralized lending protocols, especially if there is a sudden drop in collateral asse t prices. This can lead to multiple pools having bad debts. Euler solves this problem by using risk-based asset tiers:
● Isolation-tier assets are available for borrowing and lending, but can't be used as collateral or borrowed with other assets in the same pool.
● Assets in the cross-tier can be lent and borrowed, but cannot be used as collateral. They can be borrowed alongside other assets.
● Collateral-tier assets can be used as collateral, borrowed, and lent.
EUL holders can vote to move assets from isolation to cross or collateral tiers, but this also increases risk. So, it's important to balance these concerns for the safety of users.
Euler lenders earn interest by depositing assets into a liquidity pool and receiving eTokens. These eTokens can be redeemed for a share of the pool's assets, as long as there are unborrowed tokens available, like Compound's cTokens. Borrowers take liquidity out and return it with interest, increasing the pool's assets over time. This means that the eTokens earned by lenders can be redeemed for a larger amount of underlying assets, allowing them to earn interest on their supplied assets.
Euler tokenizes debts on its protocol with dTokens, similar to Aave's debt tokens. These ERC20-compliant interfaces allow for the creation of derivative products including debt obligations. To prevent users from burning their dTokens, Euler uses regular transfer/approve ERC20 methods but with reversed permissioning logic. Borrowers pay interest on their loans in the underlying asset, with a portion of the interest held in reserves for bad debts.
How Many EULER Tokens Are in Circulation?
EUL is the Euler network's native governance token. It has a circulating supply of 15,789,529 EUL and a maximum supply of 27,182,818 EUL coins.
How to Buy Euler (EUL)
Consider investing in Euler (EUL)? It only takes 2 minutes to create an account on Bitget and start trading EUL.
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Euler (EUL) Resources
Buy Euler in Canada with Bitget
Simple 3-step guide to buying EUL today in Canada
Create your free Bitget account
Select a funding method
Complete your Euler purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Euler using a payment method of your choice:
Buy Euler with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Euler order.
How to buy crypto with credit/debit cardBuy Euler with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Euler is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Euler order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Euler order.Buy Euler with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Euler order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Euler in your Bitget spot wallet
Bitget—where the world trades Euler
How to buy Euler for free
- Learn how to earn Euler for free through the Learn2Earn promotion
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