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Overview

This documentation was authored by Telos Consilium, a Web3 service provider mandated by the Euler team to create onboarding and educational materials for this product.

If you're interested in integrating, experimenting with, or building on top of Euler Swap, feel free to reach out—we'll be happy to assist and guide you through the process.

Overview

Maglev is a custom administrative interface designed for configuring and managing EulerSwap pools. It integrates with Euler’s lending protocol to enable dynamic liquidity provision while maintaining asset utilization within user accounts. Maglev is tailored for technical users—such as operators, market makers, and DAOs—who seek advanced control over their liquidity strategies and risk management

EulerSwap is a new decentralized exchange (DEX) that leverages Euler’s lending infrastructure. Unlike traditional AMMs, funds are not locked in a shared pool but remain in the user’s account, continuing to earn lending interest and protocol rewards (e.g., rEUL tokens). This design enables greater capital efficiency and flexibility for liquidity providers

Core Concepts

Euler Maglev's key features, include:​

  • Curve Configuration: Allows setting an equilibrium price (market-aligned to minimize arbitrage losses), adjusting liquidity concentration (0-100%, where higher values mimic Uniswap v3-like concentrated ranges and lower values mimic constant-sum pools), and configuring adjustable swap fees.
  • Swap: Enables users to swaps with adjustable parameters (exact input/output), dynamically calculating price impact and slippage.
  • Leveraged Market-Making: Supports leveraged positions, such as depositing 250kUSDCtoloopborrow250k USDC to loop borrow 650k and swap $400k USDT to build a balanced liquidity position.
  • Contract Architecture: Includes a Factory for deploying pools with immutable parameters, a Proxy Pattern for gas-efficient deployment, and support for JIT (Just In Time) swaps compatible with Uniswap v2-style callbacks.

Target Audience​

Maglev is intended for:

  • Administrators and operators who manage liquidity pools and need fine-grained control over pool parameters.
  • Market makers who want to implement advanced strategies such as leveraged market-making and dynamic hedging.
  • DAOs and token teams seeking to bootstrap or manage protocol-owned liquidity.
  • Sophisticated DeFi users who wish to combine lending and swaps in their trading strategies