DeFi protocol
Euler v2
1 product · 1 coin · Monad · TVL $355M · data via DefiLlama
Platform risk tier
B· Medium risk · meets 3/5 criteriaSee why
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.
- !Operating since 2024-08, under 3 years
- ✓Audited by 10 firms: Spearbit, Cantina, Certora, ChainSecurity, OpenZeppelin, Omniscia, Enigma Dark, yAudit/Electisec, Trail of Bits, Hunter Security
- ✓Bug bounty programme (Cantina, up to $7.5M)
- !TVL $355.2M, below $1B
- ✓No material uncovered losses in the core product (incidents in isolated products or under $1M are listed separately)
- iRisk 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.
- iTVL fell sharply in 2026 (approximately USD 354 million on 27/9/2026), with approximately 74% on Monad.
Last reviewed 27/09/2026. Not investment advice.Facts and sources →
You keep your own wallet and deposit straight into the smart contract. Click a product name for details.
1/1 products · How risk tiers work
| Conditions & limits | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| ETH | euler-v2 · Monad · K3 Capital Earn WETH (WETH)One rate for any amount.
| Flexible DeFi · smart contract | B· Medium risk | 2.65% | 1.18% | 2.65% | 2.65% | 2.65% | Token rewards Withdraw any time if the pool has enough liquidity |