Why is this project 'special'?
Many new project narratives start only in 2024/2025.
Euler is one of the few DeFi OGs that survived the peak of 2021 + deep bear market and returned to the mainstream exchange stage.
This narrative has significant 'collective memory value' at this point in 2025.
It is not a newly created narrative.
It has genuinely done things on-chain, has accumulation, has pitfalls, and has continuous product iterations.
And don't forget - the most eye-catching public chain event before Euler was when the hacker returned the money.
It rarely happens = it is one of the very few real 'narrative heritage value' DeFi projects in crypto history.
This layer already has a non-linear narrative boost during the Binance Listing phase.
Core track positioning
Euler Focus: Non-custodial lending protocol
Users can collateralize assets → borrow other assets
Advantages include:
More flexible risk parameters (not a one-size-fits-all for all assets)
More elastic interest rate models
More long-tail assets can enter the lending market
This is the category in DeFi lending that is the most 'difficult and requires experience accumulation.'
Token: The role of EUL
EUL primarily plays a governance role in the ecosystem
It is the source of governance authority for protocol parameters, asset listing processes, risk configurations, and system upgrades.
This token mechanism belongs to:
Slow variables / long-term governance assets
This narrative is expected to rise again in 2025 (especially when the market begins to re-enter the 'stock efficiency vs. asset layering' phase)
Token information
Token Name: Euler (EUL)
Total token supply: 27,182,818 EUL
Maximum token supply: 27,182,818 EUL
HODLer airdrop total amount: 543,657 EUL (2%)
Circulating supply at the time of Binance listing: 19,809,653 EUL (72.87%)
A one-sentence summary of Euler
After experiencing a whole bull and bear market, it returned with systematic governance.
Not a PPT narrative
It is a proven + legacy based DeFi protocol
So why is Euler worth paying attention to at this stage?
The DeFi META of 2025 is:
RWA, yield automation, chain abstraction, modularization, settlement layering, data verifiability
Lending protocol = the absolute 'strong infrastructure layer' of on-chain yield and credit.
This layer will always exist.
Euler's value just happens to lie in:
It's not about seizing the opportunity itself, but rather 'the infrastructure that all assets must use after the opportunity lands.'
Disclaimer: This article is for information sharing only, investment should be cautious, please make reasonable decisions based on individual risk tolerance.
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