Euler

On May 6th, 2024, a report highlighted 17 promising crypto startups to monitor. One of the key developments mentioned was the implementation of a v2 liquidation mechanism. The report stated that the Dutch auction model would be retained, with additional custom flows introduced for advanced users.

A major cryptocurrency audit competition with a prize pool of $1.25 million has been announced. The event, touted as the largest of its kind, is scheduled to take place in 17 days. Further details about the competition and its organizers were not provided.

Euler's v2 upgrade introduces a modular design that allows for greater capital efficiency in decentralized lending protocols. Key features include the ability to connect multiple collateral assets to multiple liability assets, enabling more complex lending strategies. Additionally, v2 supports rehypothecation of collateral, allowing borrowers to earn yield on their collateral and reduce net borrowing costs. Unlike monolithic protocols where the entire system is tied to the weakest collateral asset, Euler v2 allows users to create independent collateral clusters, mitigating systemic risk. The upgrade offers flexibility in configuring lending setups, from simple pairs to intricate arrangements like Aave v3.

Delphi, a research firm, has published an in-depth analysis on Euler's upcoming version 2 and the future of modular lending protocols. The report provides insights into the advancements and potential implications of Euler's modular lending architecture.

Gmega, a UK tech startup focused on building non-custodial protocols on Ethereum and other blockchains, has released a new podcast episode featuring Fintech Frank. The discussion covers key topics such as security, modularity, and risk-weighted assets (RWAs) related to their version 2 platform.

In the upcoming v2 release, Ethereum-based lending protocol will introduce cluster vaults, a new feature that allows trades to easily bootstrap each other's liquidity. A cluster is a set of cross-collateral assets that can borrow from one another. This opens up possibilities for trades to provide liquidity to each other. For example, one cluster could consist of stETH, rETH, and ezETH as collateral assets, with ETH as the borrowable asset. Another cluster could have ETH as collateral and DAI, USDC, and USDT as borrowable assets. Traders seeking to amplify their LRT/LST yield can borrow ETH supplied by traders looking for leverage on ETH. This creates an ecosystem where one trade bootstraps the next, while giving users optionality in their risk exposure.

Euler, a UK-based tech startup focused on building non-custodial protocols on Ethereum and other blockchains, has released the codebase for its Euler Vault Kit (EVK) and Euler Price Oracle. This move is part of the company's commitment to building in public and allowing security experts and vault creators to review the code before future audits and deployments. Euler is also aiming to give security engineers participating in the Cantina $1.25M audit competition the opportunity to prepare and uncover potential bugs. The release of the codebase brings Euler one step closer to launching version 2, which will enable builders to create and connect custom vaults or quickly deploy the EVK's ready-made vaults.

Safe Euler, a UK-based technology startup focused on developing non-custodial protocols on Ethereum and other blockchains, has announced a partnership with Safe. The collaboration aims to launch the Safe{Pass} program, which will reward the original Safe community. Further details about this initiative are expected to be released soon.

Code2042, a UK-based technology startup focused on developing non-custodial protocols on Ethereum and other blockchains, has outlined its multi-layer security strategy ahead of the release of version 2 of its platform. The company, which harnesses the power of mathematics to build high-performance decentralized applications, shared its security plans during an interview with CryptoCanal.

Bunny, a UK-based tech startup focused on building non-custodial protocols on Ethereum and other blockchains, has made their repository public. The repository contains information about their approach to handling fee flows on the Euler protocol, a decentralized lending platform on Ethereum.