Crypto Leen and Leen Platform Euler Finance has just returned from the Defi -Wildernis.
The protocol this week has locked new all time in the total value (TVL) and total loans-two crucial activities of activity for a Defi-money shooter.
Euler’s hundreds of millions of crypto-dollars that are now under management can leave it right on the loans of Ethereum World’s Lending Powerhouses, such as the Multibillion Dollar Aave. But it is nevertheless remarkable for a protocol that Kaput almost went after a $ 200 million hack exactly two years ago.
“Many people wrote to us and said it would have been completely normal for us to end the project there,” said Michael Bentley, CEO of Euler Labs. But his team decided to stay with it and rebuild Euler – all over again.
Their new vision was a very adaptable loan hub where people could adjust the risk, the yields and asset parameters of their Polish. This was a big difference with the original Euler, who described Bentley as “a specific product: one credit market”.
“There is just no one-size-fits-all when it comes to borrowing and borrowing,” said Bentley.
Comeback was hardly insured: while the victims of the hack had received their money back, Bentley and his team wondered if the market had a appetite for a protocol with an affected reputation.
It did not help that Euler actually missed much of the Defistoot of 2024 while sitting in pre-launch security reviews. Euler finally debuted his V2 in September 2024, almost a year and a half after getting dark.
The protocol helped its return to make a relatively modest stimulus budget: a “few million” dollars in Eul tokens to reflect people, at a time when he claims that competitors offer tens of millions of dollars more., Said Bentley, who attributes the largest part of growth to “product market fit”.
Even now, while Ether – a critical collateral for loan platforms in Ethereum Defi – remains in price, Euler continues to grow. It is one of only two credit protocols in the top 10 to see growth in active loans last month.
If this becomes a bear market, I am still trust, given the success of Euler V2 so far, that Euler will still grow compared to some of the other opportunities there are, “Bentley said.
