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.
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.
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.
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.
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.
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.
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.
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.
Paradigm backed Fractal’s $35M seed round.
Lemniscap added Trisolaris to their portfolio.
CMT Digital invested in Degis.
Encode Club is partnering with HerDAO at Devconnect.