⌘K

Euler V2(EUL)

Total Value Locked$272.9m

TVL by Chain

Monad$200.32m

Ethereum$50.59m

Base$11.15m

Avalanche$4.24m

Unichain$1.63m

Plasma$1.51m

Hyperliquid L1$1.08m

Arbitrum$771,360

BSC$525,203

BOB$515,376

Sonic$237,414

Linea$222,854

Berachain$109,543

TAC$6,956

Swellchain$0

Mantle$0

Key Metrics

Fees 30d$541,807

Fees 30d by chain

Monad$409,626

Ethereum$50,574

Avalanche$31,848

Base$25,093

Hyperliquid L1$9,698

Plasma$4,892

BSC$3,372

Arbitrum$2,463

Unichain$1,707

Berachain$1,170

Linea$760.38

BOB$391.56

Sonic$208.41

TAC$8.87

Fees 7d$123,607

Monad$93,331

Ethereum$10,171

Base$8,501

Avalanche$7,287

Hyperliquid L1$1,530

BSC$782

Plasma$710.74

Unichain$430.06

Arbitrum$409.98

Berachain$264.15

BOB$88.71

Linea$60.25

Sonic$39.97

TAC$0

Fees 24h$17,146

Monad$12,604

Ethereum$1,564

Base$1,383

Avalanche$1,009

Hyperliquid L1$224

BSC$106

Plasma$79.51

Unichain$60.38

Arbitrum$52.07

Berachain$37.68

BOB$12.26

Linea$8.10

Sonic$5.42

Cumulative Fees$87.82m

Ethereum$51.65m

Avalanche$12.12m

Plasma$6.96m

Sonic$3.47m

Linea$2.38m

Berachain$2.22m

Unichain$1.98m

Monad$1.98m

Arbitrum$1.86m

BSC$1.49m

Base$968,526

TAC$276,956

Swellchain$273,837

BOB$140,870

Hyperliquid L1$41,074

Revenue 30d$2,706

Revenue 30d by chain

Avalanche$1,640

Hyperliquid L1$483.94

BSC$243.37

Ethereum$232.77

Arbitrum$101.57

Berachain$1.91

Plasma$1.22

Base$0.21

BOB$0

Linea$0

Monad$0

Sonic$0

TAC$0

Unichain$0

Revenue 7d$575.77

Avalanche$377.77

Hyperliquid L1$76.52

BSC$56.26

Ethereum$51.61

Arbitrum$13.29

Plasma$0.28

Base$0

Berachain$0

BOB$0

Linea$0

Monad$0

Sonic$0

TAC$0

Unichain$0

Revenue 24h$80.60

Avalanche$52.83

Hyperliquid L1$11.22

BSC$7.42

Ethereum$7.30

Arbitrum$1.78

Plasma$0.04

Base$0

Berachain$0

BOB$0

Linea$0

Monad$0

Sonic$0

Unichain$0

Cumulative Revenue$4.59m

Ethereum$2.08m

Avalanche$869,977

Plasma$453,231

Sonic$261,272

Linea$236,842

Unichain$195,373

Arbitrum$153,842

Berachain$122,419

BSC$114,437

Base$32,430

Monad$27,387

Swellchain$25,121

TAC$14,736

BOB$6,913

Hyperliquid L1$2,053

Holders Revenue 30d$0.29

Holders Revenue 30d by chain

Berachain$0.29

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

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$97,095

Collateral Liquidated 30d by chain

Sonic$33,006

Ethereum$32,612

Hyperliquid L1$22,639

Base$6,473

Monad$1,677

BSC$295.49

Berachain$229

Arbitrum$102.48

Unichain$32.56

Linea$29.27

Avalanche$0

BOB$0

Plasma$0

Collateral Liquidated 7d$41,776

Sonic$33,006

Base$4,924

Monad$1,549

Hyperliquid L1$1,352

Ethereum$618.81

BSC$288.11

Linea$29.27

Unichain$9.54

Arbitrum$0

Avalanche$0

Berachain$0

BOB$0

Plasma$0

Collateral Liquidated 24h$6,347

Base$5,145

Ethereum$1,104

Monad$90

Linea$7.27

Hyperliquid L1$0.60

Arbitrum$0

Avalanche$0

Berachain$0

BOB$0

BSC$0

Plasma$0

Sonic$0

Unichain$0

Cumulative Collateral Liquidated$337,031

Ethereum$265,031

Sonic$34,512

Hyperliquid L1$22,639

Base$8,101

Monad$3,104

BSC$1,695

Avalanche$499

Berachain$483.90

Unichain$453.56

Arbitrum$418.68

Plasma$65

Linea$29.27

BOB$0

Active Loans$313.39m

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, net of bad debt written off against vault lenders.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. Excludes seized shares of vaults whose loans have gone bad, since those shares cannot be withdrawn.

Yields

Pools Tracked139

Average Supply APY13.9%

User Activity

Active Addresses (24h)160

Transactions (24h)423

Competitors

Morpho Blue ($10.708b)Aave V3 ($15.095b)Impermax V2 ($498,250)PWN ($20,691)Compound V3 ($1.202b)Gearbox ($21.1m)Tarot ($442,473)Ajna V2 ($42,173)Venus Core Pool ($1.109b)Folks Finance xChain ($3.27m)

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	$754.73K	$3.97M	$7.13M	$9.42M	$24.88M	$25.44M	$11.91M	$3.85M	$494.5K	$2.1K
Borrow Interest	$679.81K	$3.57M	$6.39M	$8.44M	$22.23M	$23.63M	$10.97M	$3.56M	$446.89K	$1.89K
Protocol Fees	$3.73K	$59.57K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Curators Fees	$71.21K	$340.46K	$414.9K	$424.97K	$1.02M	$530.03K	$387.31K	$122.25K	$14.03K	$32
Cost of Revenue	$750.97K	$3.91M	$6.81M	$8.87M	$23.25M	$24.16M	$11.36M	$3.68M	$460.91K	$1.93K
Borrow Interest	$679.81K	$3.57M	$6.39M	$8.44M	$22.23M	$23.63M	$10.97M	$3.56M	$446.89K	$1.89K
Curators Fees	$71.21K	$340.46K	$414.9K	$424.97K	$1.02M	$530.03K	$387.31K	$122.25K	$14.03K	$32
Gross Profit	$3.73K	$59.57K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Protocol Fees	$3.73K	$59.57K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Earnings	$3.73K	$59.57K	$317.61K	$546.98K	$1.64M	$1.28M	$550.35K	$168.33K	$33.59K	$177
Token Holder Net Income	$0.31	$1.19	$46.89K	$333.28K	$1.25M	$974.84K	$438.59K	$131.18K	$22.18K	$0
Token Buy Back	$0.31	$1.19	$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 Nov 9, 2026.

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

Daily TVL, Oct 11, 2026 to Nov 9, 2026

Date	TVL
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
Oct 28, 2026	$283.02m
Oct 29, 2026	$278.1m
Oct 30, 2026	$266.64m
Oct 31, 2026	$268.64m
Nov 1, 2026	$268.83m
Nov 2, 2026	$269.23m
Nov 3, 2026	$271.61m
Nov 4, 2026	$274.92m
Nov 5, 2026	$268.22m
Nov 6, 2026	$263.88m
Nov 7, 2026	$284.05m
Nov 8, 2026	$266.98m
Nov 9, 2026	$277.62m

TVL at each month end, Dec 2024 to Nov 2026

Date	TVL
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 31, 2026	$268.64m
Nov 9, 2026 (latest)	$277.62m

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, Dec 2024 to Nov 2026

Month	Fees	Revenue	Holders revenue
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	$1.3m	$9,826	$0
Aug 2026	$1.66m	$31,185	$1.16
Sep 2026	$1m	$18,560	$0.03
Oct 2026	$595,852	$2,992	$0.31
Nov 2026 (to date)	$158,873	$736.94	$0

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 Nov 9, 2026, Euler V2 has $272.9m in total value locked. TVL has decreased 9.6% over the past 30 days.

What chains does Euler V2 operate on?

Euler V2 operates on 17 chains: Monad, Ethereum, Base, Avalanche, and Unichain and 12 others. Monad holds the largest share at 73.4%.

How much has Euler V2 generated in fees and revenue?

Over the past 30 days, Euler V2 generated $541,807 in fees. Of that, $2,706 was protocol revenue. Based on the trailing year, the annualized rate is $31.05m in fees and $1.51m 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 $48.394b across 519 protocols, and Euler V2 accounts for 0.6% 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 Nov 9, 2026, Euler V2 has $313.39m in active loans.