🔥🔥 EUL TOKEN: THE HEART OF THE DEFI EULER FINANCE PROTOCOL 🔥🔥
EUL is the native token of Euler Finance, a modular DeFi lending protocol built on Ethereum that allows for the permissionless creation of customized lending markets.
Founded in 2021, Euler stands out for its flexible architecture that enables risk isolation among different markets through dedicated Vaults.
This innovative structure aims to support a wide range of digital assets, with the goal of introducing unsecured loans and decentralized spot derivative products in the future.
The EUL token, an ERC-20 standard, primarily serves a governance role: holders can vote on changes to the protocol, DAO treasury management, and fee structures. EUL is also used in Fee Flow auctions, where the fees generated by the protocol are converted into EUL through auctions paid for by participants, and distributed as rewards to active users of the system.
The tokenomics of EUL provides for a total supply of 27,182,818 tokens, a tribute to Euler's number (e). The tokens are primarily divided among Euler DAO (34%), foundation (3.7%), strategic partners (39.5%), and project contributors associated with Euler Labs (26.5%).
The distribution includes a significant portion reserved for rewards for users and liquidity held by the protocol to promote its growth.
The main features of Euler include isolated lending markets with advanced risk management, reactive interest rates, and the ability to customize lending parameters for each asset.
Decentralized governance through EUL ensures that the developments of the protocol reflect the interests of the community, promoting innovation and security in DeFi lending.
