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Euler V2(EUL)

Total Value Locked$283.14m

TVL by Chain

Monad$202.52m

Ethereum$52.16m

Base$12.49m

BOB$4.98m

Avalanche$4.37m

Unichain$1.82m

Plasma$1.51m

Hyperliquid L1$1.33m

Arbitrum$720,354

BSC$571,192

Linea$267,099

Sonic$257,159

Berachain$123,435

TAC$8,282

Swellchain$0

Mantle$0

Key Metrics

Fees 30d$1.69m

Fees 30d by chain

Avalanche$645,813

Ethereum$489,836

Monad$459,176

BSC$25,444

Plasma$24,402

Base$23,773

Hyperliquid L1$10,275

Arbitrum$3,005

Unichain$1,624

Berachain$1,269

Linea$919.93

BOB$509.68

Sonic$248.26

TAC$25.12

Fees 7d$390,088

Avalanche$154,250

Ethereum$115,395

Monad$96,299

BSC$6,287

Plasma$5,624

Hyperliquid L1$5,573

Base$4,769

Arbitrum$652.47

Unichain$459.35

Linea$309.17

Berachain$285.91

BOB$119.54

Sonic$64.92

TAC$0

Fees 24h$55,612

Avalanche$22,209

Ethereum$16,616

Monad$13,747

BSC$917

Plasma$803

Base$688

Hyperliquid L1$360

Arbitrum$98.15

Unichain$62.45

Linea$45.82

Berachain$40.20

BOB$16.89

Sonic$8.47

TAC$0

Cumulative Fees$90.86m

Ethereum$52.92m

Avalanche$13.96m

Plasma$7.02m

Sonic$3.47m

Linea$2.38m

Berachain$2.22m

Unichain$1.98m

Arbitrum$1.86m

Monad$1.82m

BSC$1.55m

Base$963,275

TAC$277,001

Swellchain$273,837

BOB$140,952

Hyperliquid L1$24,608

Revenue 30d$78,020

Revenue 30d by chain

Ethereum$39,168

Avalanche$34,621

BSC$2,389

Plasma$1,191

Hyperliquid L1$512.66

Arbitrum$130.93

Berachain$3.68

Base$0.30

BOB$0

Linea$0

Monad$0

Sonic$0

TAC$0

Unichain$0

Revenue 7d$18,862

Ethereum$9,396

Avalanche$8,292

BSC$587.76

Hyperliquid L1$278.09

Plasma$277.24

Arbitrum$29.64

Berachain$0.28

Base$0.07

BOB$0

Linea$0

Monad$0

Sonic$0

TAC$0

Unichain$0

Revenue 24h$2,705

Ethereum$1,357

Avalanche$1,200

BSC$85.98

Plasma$39.62

Hyperliquid L1$17.90

Arbitrum$4.66

Base$0.01

Berachain$0

BOB$0

Linea$0

Monad$0

Sonic$0

TAC$0

Unichain$0

Cumulative Revenue$4.81m

Ethereum$2.19m

Avalanche$967,709

Plasma$457,160

Sonic$261,272

Linea$236,842

Unichain$195,373

Arbitrum$153,830

Berachain$122,425

BSC$119,450

Base$32,430

Monad$27,465

Swellchain$25,121

TAC$14,736

BOB$6,913

Hyperliquid L1$1,231

Holders Revenue 30d$0.24

Holders Revenue 30d by chain

Berachain$0.24

Arbitrum$0

Avalanche$0

Base$0

BOB$0

BSC$0

Ethereum$0

Hyperliquid L1$0

Linea$0

Monad$0

Plasma$0

Sonic$0

TAC$0

Unichain$0

Holders Revenue 7d$0

Arbitrum$0

Avalanche$0

Base$0

Berachain$0

BOB$0

BSC$0

Ethereum$0

Hyperliquid L1$0

Linea$0

Monad$0

Plasma$0

Sonic$0

TAC$0

Unichain$0

Holders Revenue 24h$0

Arbitrum$0

Avalanche$0

Base$0

Berachain$0

BOB$0

BSC$0

Ethereum$0

Hyperliquid L1$0

Linea$0

Monad$0

Plasma$0

Sonic$0

TAC$0

Unichain$0

Cumulative Holders Revenue$3.2m

Ethereum$1.35m

Avalanche$594,125

Plasma$352,076

Linea$226,695

Unichain$165,223

Arbitrum$143,425

Sonic$108,268

Berachain$96,962

BSC$90,131

Base$29,102

Swellchain$20,065

TAC$12,855

Monad$7,069

BOB$6,213

Hyperliquid L1$0

Collateral Liquidated 30d$39,570

Collateral Liquidated 30d by chain

Ethereum$28,050

Hyperliquid L1$10,079

Base$1,109

Berachain$229

Arbitrum$102.48

Unichain$0.02

Avalanche$0

BOB$0

BSC$0

Linea$0

Monad$0

Plasma$0

Sonic$0

Collateral Liquidated 7d$39,339

Ethereum$27,819

Hyperliquid L1$10,079

Base$1,109

Berachain$229

Arbitrum$102.48

Unichain$0.02

Avalanche$0

BOB$0

BSC$0

Linea$0

Monad$0

Plasma$0

Sonic$0

Collateral Liquidated 24h$10

Ethereum$10

Arbitrum$0

Avalanche$0

Base$0

Berachain$0

BOB$0

BSC$0

Hyperliquid L1$0

Linea$0

Monad$0

Plasma$0

Sonic$0

Unichain$0

Cumulative Collateral Liquidated$279,505

Ethereum$260,469

Hyperliquid L1$10,079

Base$2,737

Sonic$1,506

Monad$1,427

BSC$1,400

Avalanche$499

Berachain$483.90

Unichain$421.02

Arbitrum$418.68

Plasma$65

BOB$0

Linea$0

Active Loans$231.85m

Protocol Information

Euler revolutionizes DeFi by letting any asset become collateral for a lending market. Lenders and borrowers get market leading risk-adjusted rates. Builders can create and manage markets exactly how they want them, with institutional-grade security.

Website X/Twitter

Category:Lending

Audits:

Methodology

TVL: TVL is supply balance minus borrows the euler contract. Borrowed excludes vaults whose underlying or whose accepted collateral vaults' underlyings have no price in coins.llama.fi (treated as worthless/insolvent).Fees: Includes interest that is paid by the borrowers, protocol and curators fees.Revenue: Fees collected by Euler protocol.Holders Revenue: Revenue used for buy back EUL tokens.Collateral Liquidated: Total USD value of collateral seized in Euler v2 eVault Liquidate events.

Yields

Pools Tracked133

Average Supply APY11.74%

User Activity

Active Addresses (24h)153

Transactions (24h)383

Competitors

Morpho Blue ($11.225b)Aave V3 ($16.619b)Impermax V2 ($531,264)PWN ($21,554)Compound V3 ($1.356b)Gearbox ($23.03m)Tarot ($522,964)Ajna V2 ($44,661)Venus Core Pool ($1.218b)Folks Finance xChain ($4.04m)

Income statement for Euler V2

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024
Gross Protocol Revenue	$1.51M	$6.29M	$7.13M	$9.42M	$24.88M	$25.44M	$11.91M	$3.85M	$494.5K	$2.1K
Borrow Interest	$1.35M	$5.63M	$6.39M	$8.44M	$22.23M	$23.63M	$10.97M	$3.56M	$446.89K	$1.89K
Protocol Fees	$70.72K	$213.33K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Curators Fees	$91.7K	$443.26K	$414.9K	$424.97K	$1.02M	$530.03K	$387.31K	$122.25K	$14.03K	$32
Cost of Revenue	$1.44M	$6.07M	$6.81M	$8.87M	$23.25M	$24.16M	$11.36M	$3.68M	$460.91K	$1.93K
Borrow Interest	$1.35M	$5.63M	$6.39M	$8.44M	$22.23M	$23.63M	$10.97M	$3.56M	$446.89K	$1.89K
Curators Fees	$91.7K	$443.26K	$414.9K	$424.97K	$1.02M	$530.03K	$387.31K	$122.25K	$14.03K	$32
Gross Profit	$70.72K	$213.33K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Protocol Fees	$70.72K	$213.33K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Earnings	$70.72K	$213.33K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Token Holder Net Income	$0.24	$1.23	$46.89K	$333.28K	$1.25M	$974.84K	$438.59K	$131.18K	$22.18K	$0
Token Buy Back	$0.24	$1.23	$46.89K	$333.28K	$1.25M	$974.84K	$438.59K	$131.18K	$22.18K	$0

Income flow visualization

YearlyQuarterlyMonthlyCumulative

Euler V2 history

TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Aug 26, 2024 to Oct 27, 2026.

All-time high TVL: $2.202b on Oct 6, 2025. All-time low TVL: $3.41m on Aug 28, 2024.

Daily TVL, Sep 28, 2026 to Oct 27, 2026

Date	TVL
Sep 28, 2026	$354.44m
Sep 29, 2026	$349.22m
Sep 30, 2026	$353.08m
Oct 1, 2026	$353.84m
Oct 2, 2026	$349.24m
Oct 3, 2026	$347.1m
Oct 4, 2026	$347.81m
Oct 5, 2026	$349.09m
Oct 6, 2026	$347.99m
Oct 7, 2026	$341.94m
Oct 8, 2026	$320.78m
Oct 9, 2026	$301.83m
Oct 10, 2026	$301.76m
Oct 11, 2026	$296.95m
Oct 12, 2026	$303.4m
Oct 13, 2026	$298.77m
Oct 14, 2026	$300.77m
Oct 15, 2026	$292.59m
Oct 16, 2026	$290.49m
Oct 17, 2026	$288.07m
Oct 18, 2026	$287.37m
Oct 19, 2026	$290.91m
Oct 20, 2026	$290.52m
Oct 21, 2026	$291.91m
Oct 22, 2026	$287.94m
Oct 23, 2026	$284.67m
Oct 24, 2026	$282.45m
Oct 25, 2026	$276.63m
Oct 26, 2026	$280.38m
Oct 27, 2026	$279.48m

TVL at each month end, Nov 2024 to Oct 2026

Date	TVL
Nov 30, 2024	$59.44m
Dec 31, 2024	$107.1m
Jan 31, 2025	$158.08m
Feb 28, 2025	$290.81m
Mar 31, 2025	$566.15m
Apr 30, 2025	$775.36m
May 31, 2025	$967.41m
Jun 30, 2025	$1.127b
Jul 31, 2025	$1.136b
Aug 31, 2025	$1.471b
Sep 30, 2025	$1.663b
Oct 31, 2025	$1.646b
Nov 30, 2025	$1.04b
Dec 31, 2025	$1.013b
Jan 31, 2026	$587.57m
Feb 28, 2026	$500.6m
Mar 31, 2026	$505.91m
Apr 30, 2026	$374.37m
May 31, 2026	$283.68m
Jun 30, 2026	$296.2m
Jul 31, 2026	$373.52m
Aug 31, 2026	$374.43m
Sep 30, 2026	$353.08m
Oct 27, 2026 (latest)	$279.48m

TVL at each year end, Dec 31, 2024 to Dec 31, 2025

Date	TVL
Dec 31, 2024	$107.1m
Dec 31, 2025	$1.013b

Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026

Month	Fees	Revenue	Holders revenue
Nov 2024	$73,478	$6,301	$3,374
Dec 2024	$409,798	$26,415	$18,712
Jan 2025	$1.06m	$43,657	$39,074
Feb 2025	$898,255	$38,872	$27,728
Mar 2025	$1.9m	$85,805	$64,381
Apr 2025	$2.45m	$120,181	$98,852
May 2025	$4.38m	$213,598	$173,564
Jun 2025	$5.07m	$216,567	$166,169
Jul 2025	$7.21m	$297,700	$238,700
Aug 2025	$8.43m	$342,139	$243,079
Sep 2025	$9.8m	$638,395	$493,065
Oct 2025	$11.6m	$817,851	$720,458
Nov 2025	$8.36m	$518,878	$362,958
Dec 2025	$4.92m	$298,949	$169,499
Jan 2026	$3.93m	$233,368	$113,956
Feb 2026	$2.81m	$160,350	$131,132
Mar 2026	$2.68m	$153,257	$88,189
Apr 2026	$2.72m	$155,431	$46,895
May 2026	$2.34m	$99,784	$0
Jun 2026	$2.07m	$62,398	$0
Jul 2026	$2.2m	$68,120	$0
Aug 2026	$2.3m	$72,963	$1.20
Sep 2026	$1.79m	$72,248	$0.03
Oct 2026 (to date)	$1.51m	$70,723	$0.24

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/euler-v2

Frequently asked questions

What is Euler V2's TVL?

As of Oct 27, 2026, Euler V2 has $283.14m in total value locked. TVL has decreased 20.1% over the past 30 days.

What chains does Euler V2 operate on?

Euler V2 operates on 17 chains: Monad, Ethereum, Base, BOB, and Avalanche and 12 others. Monad holds the largest share at 71.5%.

How much has Euler V2 generated in fees and revenue?

Over the past 30 days, Euler V2 generated $1.69m in fees. Of that, $78,020 was protocol revenue. Based on the trailing year, the annualized rate is $39.48m in fees and $2.09m in revenue.

How does Euler V2's TVL compare to similar protocols?

Among Lending protocols tracked by DefiLlama, Euler V2 ranks #16 by TVL. The category holds $52.413b across 518 protocols, and Euler V2 accounts for 0.5% of that total. Similar protocols include Morpho Blue, Aave V3, Impermax V2, PWN, Compound V3, Gearbox, Tarot, Ajna V2, Venus Core Pool, and Folks Finance xChain.

How much has been borrowed through Euler V2?

As of Oct 27, 2026, Euler V2 has $231.85m in active loans.