Euler
YieldActive

Euler

New CEO pivoted toward bespoke institutional credit markets. TVL surged 38x, $63M on Avalanche alone from RWA lending. One of very few DeFi lending protocols with a live, growing RWA book.

euler.finance ↗#modular-lending#permissionless#defiVerified May 13, 2026
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Brief

Modular lending protocol rebuilt from the ground up after its V1 exploit, offering customizable risk parameters and permissionless market creation.

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Recent activity

Latest moves on the changelog feed.

  • Apr 5, 2026WIRED

    Euler → BUIDL. SBUIDL lending collateral on Avalanche.

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Snapshot

Key terms and identifiers.

Asset value
$1B+
Spec type
lending-venue
Chain
Ethereum
Rwa collateral
sBUIDL, Wrapped SPYx + STRCx (Cassa vault)
Borrow assets
AUSD, USDC
Typical ltv
Curator-specific
Curator led
Yes (Cassa, Re7, others)
Asset classes
Treasuries, Private credit
Token standards
erc-20, eip-4626
Regulatory
fca-sandbox
Analytics
defillama.com/protocol/euler
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Milestones

How this player got here.

  1. Apr 2026Euler → BUIDL. SBUIDL lending collateral on Avalanche.
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Connections

Who they build with, build on, integrate with.

Dependency

Where this player builds on, integrates, or relies on others.

Tension

Direct competition or overlapping market position.

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