Euler Update [19 Mar 2022]

Let's recap what has happened over the past few weeks!

Mar 19

Keep up to Date!

The Euler team has been on full throttle since our last newsletter, so check out all our major events and achievements below!

We’re setting up the Euler Foundation, which is almost ready to launch and will represent the future EulerDAO.

Our governance forums have been active since launch as users respond to our initial Euler Improvement Proposals (eIPs).

Through the governance forum, we've promoted WBTC and UNI to collateral tier, and amended the interest rate models on select assets. Feel free to take part in discussions on eIP3 for upcoming changes to our smart contracts, which includes enabling self-collateralisation.

Check out eIP5 which proposes to relax some soft launch constraints on a large number of assets including agEUR, RBN, oSQTH, and MATIC. Other impacted assets include CVX, 1INCH, SHIB, ENS, USDT, PERP, and AXS.

We also teased a preview of our upcoming Euler Gauges, where users can vote for which communities can gain more governance rights to users through decentralised distribution. The Staking Gauges contracts are due back from an audit this week.

Our devs continue ongoing upgrades to the front-end based on community feedback and have already made several bug fixes to improve user experience.

A new oracle rating system is being set up, check it out in our documentation.

Amid the bear market, Euler’s total supply has grown to $98.93M, TVL to $55.83M while total borrowed is $43.1M and reserves are $71.23K. New markets include APE and MATIC, and we integrated with Zerion.

As part of our efforts to further engage with the community, we’ve launched our ePoints system in Discord. Also make sure to attend our next community call on 21st March at 5pm UTC.

Euler was also highlighted in a detailed report from Messari!

Our team expanded as several new members joined including front-end developer Wojtek Zając, blockchain development intern Kasper Pawlowski, and Chief Operating Officer Brandon Neal.

Brandon is a former NY Fed official who brings a treasure trove of experience with him, as CoinDesk points out in their exclusive article and video on his hiring.

Career Opportunities

Are you looking to join the DeFi revolution and have a special set of skills and experience that can work well to advance the Euler protocol?

Send us a general application to careers@euler.finance

Progress Updates

News and Updates

Amid a lot of volatile macro news and events, Bitcoin has continued to maintain its bear market weather at around $40k USD.

US President Biden’s latest executive order on crypto wasn’t as bad as everyone feared, and the EU voted against banning proof of work (POW) in the region.

Pussyriot launched Ukraine DAO while Unchain.Fund looks to help Ukraine as the Russian invasion intensifies. Metamask and other crypto companies comply with US sanctions on Russia.

DappRadar & The Defiant posted research on how Russia’s war with Ukraine is impacting the crypto markets.

New Ethereum merge testnet Kiln is now live, and Aave released v3 which comes with many new DeFi features.

Goldman Sachs just announced it is offering Galaxy Digital’s institutional ETH fund to interested clients, and Stripe now supports crypto businesses.

VC firm Hashed turned $700k into $4B, ConsenSys raised $450m in Series D, Bain Capital Ventures launched $560m crypto fund, and Immutable raised $200m in Series C round.

Bitmex co-founders Hayes and Delo plead guilty to Bank Secrecy Act violations and were fined $10m each. Journalist Laura Shin found the 2016 DAO hacker.

Andre Cronje and Anton Nell are ending their involvement in crypto, terminating all support for all of their projects. Controversial Wonderland co-founder launched his own token.

BAYC creators Yuga Labs acquired CryptoPunks and Meebits from Larva Labs and also teased a new project, but users will need to KYC.

Chainflip Labs introduced Just In Time AMM, while LayerZero Labs launched with aims to end the need for crypto bridges.

Ribbon Finance launched veRBN for holders to vote, and Evmos postpones full launch as vulnerabilities posed issues.