Euler Update [20 Apr 2022]

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

Apr 20

Keep up to Date!

March was an eventful month for the Euler team, so keep up to date on our latest progress and events recently below.

Euler reached a new milestone with over $100M in TVL! We’ve had increases in borrowing as shown by Token Terminal, while we were #1 of the top 10 DApps by 30d revenue growth according to CryptoRank.

The devs made infrastructure changes to the main landing page and added some great new features including the ‘MINE’ function where users can use leverage. We also plan to launch a new metric, “time to liquidation” for users to keep track of liquidation risk from interest rates while leverage borrowing.

We’ve had more activity in the governance forums, where eIP8 will fix some minor bugs in the smart contracts and another proposal will readjust agEUR’s oracle. The Angle team also minted $1M agEUR on Euler.

Token Terminal released the fourth post in their research series, with the latest article focusing on Euler. Ape Board also announced Euler is supported on their platform.

Looking for some big brain reads? Michael wrote a thread on how Euler is the most advanced liquidity protocol and detailed issues on bad debt and bank runs. Seraphim reminded users the importance of oracles and examined how borrowing oSQTH became more efficient on Euler.

The team had a blast at PBWS, where Michael was a speaker on risk management. Michael was also interviewed on the BlockHash podcast and the KickBlocks podcast.

Meanwhile, Seraphim was interviewed in eFinancialCareers and will be attending Devconnect in Amsterdam on 25th April.

We currently have a total supply of $421.71M with TVL of $108.95M and $312.76 in total borrowed. Several new markets including DPI were activated, while our reserves have increased to $391.64K.

Career Opportunities

Progress Updates

News and Updates

Bitcoin had a brief gain up to around $47.5k before falling back into its $40k zone. Concerns over the Russian war in Ukraine, global and regional logistic and supply chain issues, and historically high inflation rates continue to suppress markets.

While Europe looks to regulate “unhosted” wallets, the US SEC looks to overreach on regulations amid wild uncertainty in the country. However, the UK government aims to become a global crypto hub.

Two individuals have been charged in the US after an NFT rug pull, while an ETH dev was sentenced to prison over his North Korea trip. Unrelated but Axie Infinity’s ETH sidechain Ronin was hit by a $600M exploit possibly from NK.

Michael Saylor bought $205M more Bitcoin, FTX entered the Australian market, and Vitalik Buterin wrote about ‘the roads not taken’, (one of them is the Ethereum Merge NOT happening in June any more).

This past month saw a large number of big raises in the crypto industry. Optimism raised $150M. Avalanche raised $350M @ $5.25B valuation. Sony & Lego invest $2B in Epic Games for the metaverse. Certik crypto security firm @ $2B valuation with new funding. Blockchain.com closed a new round, valued @ $14B. Sequoia, FTX Ventures and A16z Lead $135 Million in LayerZero Labs.

While Pudgy Penguins was sold to an entrepreneur for $2.5M, Avalanche launched a $100M creator fund and partnered with Terra in a $100M collab. Uniswap Labs launched Ventures to invest in Web3.

Minters can return NFTs for a refund through ERC721r. Nansen now offers major features free to users. DeFiLlama created a token testnet facuet. Token-gated GitHub Repos are now a thing. OpenSea is now on Solana.

Near Protocol to launch stablecoin USN, and Waves sees volatility amid drama and increased risks. Coinbase announced tokens it’s considering to list and also a 3-part film with BAYC.