Euler Launches on Sonic with $100,000 Incentive for Early Users
Euler has launched on Sonic, introducing enhanced lending and borrowing features. A reward program of $100,000 in rEUL incentives is available for early users.
The key points include:
- Integration with Sonic adds various cryptocurrency markets curated by MEV and Re7.
- Users can lend, borrow, and loop major assets such as scETH, USDC.e, and scUSD.
- Looping strategies enable users to maximize returns through systematic transactions.
- Re7 Labs offers earning opportunities via scUSD borrowing against USDC.
- MEV Capital provides potential earnings for supplying scETH or scUSD.
Eulers' TVL increased significantly from $8 million to $216 million since October 2024. In January, total deposits rose by $270 million with only $1.1 million in token incentives, demonstrating efficient growth.
Partnerships include: