Euler labs
Euler labs

Introducing Euler

Introducing Euler

The latest innovation in decentralised finance: a permissionless lending protocol with reactive interest rates to address the long-tail of the crypto market.

Our journey

Euler XYZ started out by winning Encode Club’s ‘Spark’ University Hackathon. In doing so, we beat over 100+ teams from universities across the world to take the prize. You can read more about the hackathon here.

Today, we are delighted to announce that we have closed an $800k seed round led by Lemniscap. The round includes other leading funds LAUNCHub Ventures, CMT Digital, Divergence Ventures, Block0 and Cluster, as well as influential angels Luke Youngblood of Coinbase, Richard Burton and Josh Buckley, CEO of Product Hunt.

Who are we?

Euler XYZ was founded by Dr Michael Bentley (previously post-doc in Mathematical Biology at the University of Oxford), Jack Leon Prior (experienced full stack developer) and Doug Hoyte (experienced solidity developer).

We are also very proud to have onboard Mick de Graaf from PieDAO in an advisory capacity.

From left to right: Dr Michael Bentley, Jack Leon Prior, Doug Hoyte and advisor Mick de Graaf

What is Euler?

Euler protocol builds upon the foundations of other popular money market protocols like Compound and Aave, but allows users to create their own markets for any Ethereum ERC20 token and features innovative reactive interest rate models backed by control theory that reduce the need for governance intervention in rapidly moving markets.


Money markets now contribute billions of dollars of total value locked to the burgeoning decentralised finance (DeFi) ecosystem, allowing users to earn interest on their assets.

However, access remains limited to a handful of money markets for a few of the most liquid assets. Increasing access to money markets for more tokens poses a number of challenges that existing protocols were not designed to address.

Euler is a non-custodial protocol custom-built for the long-tail of the market. Several features set Euler apart from other popular money market protocols.

List any asset: powered by Uniswap’s decentralised time-weighted average price oracles, Euler is allowing users to create their own lending/borrowing markets for almost any Ethereum ERC20 token.

Risk-minimised: Euler secures the protocol by tailoring the borrowing capacity of users to the risk profiles associated with the assets they want to borrow and use as collateral.

Reactive interest rates: interest rate models backed by control theory ensure that money markets on Euler adapt to volatile market conditions in real-time without the need for governance intervention.

The Theory

Aave/Compound interest rates:

Euler interest rates:

EulerDAO powered by EUL

Euler will be governed in the long-term by a decentralised autonomous organisation: EulerDAO. Voting rights will be determined by ownership of a community governance token (EUL). Fees generated by Euler protocol will accrue to EUL token holders. Details of the token supply and distribution will be announced in due course.


We will soon be recruiting engaged community members to help us test an alpha version of the protocol. Details to be released in the coming weeks. Early ambassadors will be rewarded for their participation and feedback with EUL tokens, so keep an eye out!

Join our Discord, sign up for news on our website and subscribe to our social channels below.

Euler V1 will be launched in Q1 2021, once we have collated feedback from the community and secured the necessary code audits.

Come and join the discussion

Visit our website, join our Discord, and follow us on Medium, Twitter, and Telegram.

Our repos are currently private, but you can also follow us on GitHub.

Get involved

Euler XYZ are always on the lookout for talented individuals to help us grow. Solidity developer? DeFi virtuoso? Governance specialist? Reach out to, we’d love to hear from you.

All the best,

Dr Michael Bentley, CEO

About Euler

Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party. Euler features a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans, and much more. For more information, visit

Join the Community

Follow us on Twitter. Join our Discord. Keep in touch on Telegram (community, announcements). Check out our website.

This content is provided by Euler Labs, Ltd., for informational purposes only and should not be interpreted as investment, tax, legal, insurance, or business advice. Euler Labs, Ltd, is an independent software development company.

Neither Euler Labs, Ltd. nor any of its owners, members, directors, officers, employees, agents, independent contractors or affiliates are registered as an investment advisor, broker-dealer, futures commission merchant or commodity trading advisor or are members of any self-regulatory organization.

The information provided herein is not intended to be, and should not be construed in any manner whatsoever, as personalized advice or advice tailored to the needs of any specific person. Nothing on the Website should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset or transaction.

Euler Labs Ltd, does not represent or speak for on or behalf of Euler Finance or the users of Euler Finance. The commentary and opinions provided by Euler Labs Ltd., are for general informational purposes only, are provided “AS IS,” and without any warranty of any kind. To the best of our knowledge and belief, all information contained herein is accurate and reliable, and has been obtained from public sources we believe to be accurate and reliable at the time of publication.

All content provided is presented only as of the date published or indicated, and may be superseded by subsequent events or for other reasons. As events markets change continuously, previously published information and data may not be current and should not be relied upon.

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