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Earn products

Overview

EulerEarn vaults are ERC-4626 vaults that accept one underlying asset and issue one share token. An allocator can route deposited assets among strategies enabled for that Earn vault, including Euler lending vaults and other factory-accepted ERC-4626 strategies. A single share position simplifies portfolio handling; it does not remove strategy, liquidity, role, or smart-contract risk.

An Earn vault can enable a strategy only when its factory currently allows it: the factory's configured perspective verifies the strategy, or the strategy is another Earn vault created by that factory. ERC-4626 conformance and factory acceptance are compatibility gates, not safety guarantees. Review the implementation, initialization, liquidity, governance, and dependencies of every strategy.

What you can build

Earn integrationsImplement decimal-safe deposits, withdrawals, position tracking, approvals, and transaction checks.App and wallet flowsCurated yield vaultsLaunch and operate an Earn vault: evaluate strategies, set caps and queues, assign roles, and manage allocation.Operate a vaultAllocation automationReallocate within configured caps and queues, manually or through policy-controlled automation.Rebalancing

Build flow

StepRead
Integrate deposits, withdrawals, and sharesEulerEarn integrator guide
Read position and allocation dataData API, Subgraphs
Resolve display metadata and known-vault statusVault metadata
Review withdrawal liquidityEulerEarn integrator guide
Review contract securityEulerEarn audits
Launch or operate a vaultIntroduction, Deployment and management

How underlying markets shape an Earn product

An Earn vault inherits dependencies from every strategy it uses. For an EVK lending strategy:

  • Oracle routes value collateral and debt and therefore affect solvency, liquidation, and bad-debt risk. They do not directly set the borrowing interest rate.
  • Interest-rate models and utilization determine borrowing rates and the lending-rate component of supplier APY.
  • Hooks can permit, reject, or modify configured operation flows.

Rewards, allocation changes, performance fees, liquidity, and losses can further change an Earn vault's realized result. Review each mechanism separately; a quoted APY does not summarize oracle, liquidation, hook, strategy, or withdrawal risk.

Withdrawal capacity also depends on strategy liquidity and withdrawal-queue order. High utilization, losses, or failed strategy calls can reduce the amount available even when shares retain value, so integrations should check current limits and simulate withdrawals against current state.