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Operators

Introduction

Operators are a feature of the Ethereum Vault Connector (EVC) that provides a mechanism for delegating control over a user account on Euler to another address. Typically, this delegated control is granted to a smart contract with specialised and limited capabilities.

Use cases and benefits

One of the primary applications of operators is automating position management based on on-chain indicators. For example, users can configure stop-loss mechanisms, allowing "keepers" to close positions if a specified price oracle reports a certain price level, often in exchange for an execution fee.

Operators act as an advanced and flexible alternative to standard approvals. While active, an operator contract can execute actions on behalf of an account, such as:

  • Interacting with vaults (e.g., withdrawing or borrowing funds)
  • Enabling vaults as collateral
  • Managing automated trading or liquidation strategies

Given the level of control granted to operators, it is strongly recommended that only audited and trusted smart contracts or externally owned accounts (EOAs) under the control of trusted individuals be designated as operators.

Managing operators

Operators unlock various advanced functionalities, such as automated trade execution and portfolio management strategies. A user can install specialised operator contracts that enable modifications like:

  • Stop-loss mechanisms
  • Take-profit triggers
  • Trailing-stop orders
  • Swap functionalities (coming soon)

Each account can install multiple operators. However, since operators may implement conflicting logic, users should carefully evaluate and manage their installed operators.

Security considerations

While operators introduce flexibility and automation, users must exercise caution when installing them. Selecting well-audited and reputable operators is essential for minimising risk. Regular monitoring and timely revocation of unnecessary operators further enhance security.

By leveraging operators effectively, users can optimise their interactions with Euler vaults while maintaining strong security and control over their assets.