Euler Finance Achieves All-Time Highs in Total Value Locked and Borrows
Euler Finance Recovery
- Euler Finance records all-time highs in total value locked (TVL) and total borrows.
- The protocol manages hundreds of millions in crypto, recovering from a $200 million hack two years ago.
- CEO Michael Bentley emphasized the decision to rebuild Euler from scratch, shifting to a customizable borrowing hub model.
- Victims of the hack have recovered their funds; however, market appetite for a previously tarnished protocol was uncertain.
- Euler launched its V2 in September 2024 after extensive security reviews, missing part of the 2024 DeFi surge.
- The revival was supported by a modest incentives budget of "few million" dollars in EUL tokens, focusing on product-market fit.
- Euler remains one of only two top 10 lending protocols with growth in active loans over the past month.
- Bentley expressed confidence in continued growth, even in potential bear markets.