Learn more about decentralised governance of the Euler Protocol


Euler is managed by a decentralised community through on-chain governance on the Ethereum network. The community are holders of a protocol-native governance token called EUL (pronounced 'oil'), which enables the community to effect change over the Euler Protocol code. Tokens can be used to propose upgrades to the protocol or vote on the proposals of others. EUL tokens represent voting powers over the protocol.

Protocol Code

Governance can vote to effect change over the Euler Protocol for parameters such as:
  1. 1.
    Default isolated tier borrow factor
  2. 2.
    Collateral and borrow factors of specific assets
  3. 3.
    Inclusion of an asset in the cross and collateral tiers
  4. 4.
    Change in choice of risk parameters and general methodology
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