Welcome to Euler Docs!

Euler is a modular lending platform on Ethereum that enables users to lend, borrow and build without limits.

Rather than a lending protocol with a single product offering, Euler is a toolkit for creating fully-featured lending markets which can exist on their own. The Euler Vault Kit (EVK) allows deployers to permissionlessly construct these marketplaces and configure them in nearly limitless ways.

The EVK creates credit vaults, special ERC-4626 vaults with added borrowing functionality. Credit vaults are fully interoperable thanks to the Ethereum Vault Connector (EVC) serving as an efficient communication layer between them. This lets new vault deployers accept already liquid credit vaults as collateral in their marketplaces, solving the bootstrapping problem.

Several peripheral modules complete Euler's offering. The Euler Price Oracle (EPO) provides secure oracle adapters with unparalleled variety of price sources. The Fee Flow module is a decentralized auctioning contract that consolidates accumulated fees into a single token. Reward Streams is an onchain tool for permissionless incentivization of vault deposits with extra rewards.