Euler

About

Our Euler integration facilitates supplying assets into the various vaults on Euler protocol. EVK (Euler Vault Kit) vaults are extended ERC-4626 vaults that function as passive lending pools. Unlike standard ERC-4626 vaults that generate yield through active investment strategies, EVK vaults earn yield by lending assets to borrowers.

Upon the deposit, users are issued a receipt token and the native yield from lending will accrue automatically to the token. This receipt token is redeemable for the underlying deposit asset at any time.

The various vaults are operated by different curators and employ different strategies for generating yield. On top, the different vaults may have additional rewards on top of the native yield — such as rEUL, USDf, USDtb, and others which can be found in the individual yield's metadata.

Pending Actions

Claim rewards

Users will be able to withdraw their incentive reward tokens using the CLAIM_REWARDS pending action on the rewards balance.

Considerations

1. Reward EUL (rEUL) is a locked form of EUL designed to incentivize early adopters of the v2 version of the protocol. Users of Euler receive rEUL rewards by supplying assets in certain vaults. The rEUL token converts 1:1 into EUL over six months, following a non-linear unlock schedule:
   1. 20% unlocks immediately: Users can redeem a portion of their rEUL right away.
   2. 80% unlocks linearly over six months: The remaining portion vests gradually.
      Once rEUL has been claimed to a user's wallet, a clock is started on vesting, enforcing the terms outlined above. A user can claim vested EUL from their rEUL at any time. However, locked EUL is forfeited and burned if not fully vested.
2. Separate rewards may be distributed to depositors per vault basis via rewards distribution platforms such as Royco, Merkl, and Turtle Club.

List of Integration IDs

Arbitrum

Avalanche

Base

BSC

Ethereum

Sonic

Unichain