$EUL Token Rights
Updated May 06, 2026Overview
- Token(s)
- EUL
- Token Type
- Governance
- Utility
- N/A
EUL is the governance token of Euler, granting holders and delegates voting power over platform upgrades, risk models, and treasury management through DAO proposals. EUL tokens are used in Fee Flow auctions, serve as rewards on the platform, and represent voting power to effect change over the Euler protocol code or the Euler DAO treasury
Governance Rights
ControlEUL is an ERC20 token that acts as the native governance token of the Euler protocol and represents voting power to effect change over the Euler protocol code or the Euler DAO treasury.
Governance Decisions
Holders can propose and vote on protocol upgrades, risk parameters, treasury management, and strategic market additions
Treasury Decisions
The DAO controls a portion of the EUL supply in the treasury and can allocate it.
Revenue Decisions
Holders vote on monetization strategies, including parameters for protocol fes and how auctioned fees are handled
Fee Switch
PENDINGPreviously, a percentage of protocol fees went to EUL buybacks through fee flow auctions. After a bridge update in April 2026, Fee Flow auctions are paused. Fees accrue to the DAO as vault shares.
Resources
Equity Statement
Euler Labs does not receive protocol revenue, Euler Foundation does not generate profit. Revenue supports DAO Treasury and ecosystem funding.
Economic Rights
Value Capture50% of net protocol revenue (from lending/borrowing fees) was used to auction fees in exchange for EUL tokens paid by bidders, effectively repurchasing EUL and sending it to the DAO treasury for uses decided by governance. This action has been paused. There is an active proposal from Euler Labs to set Euler protocol fees to zero.
Buybacks
Buybacks through auction fees bid in EUL
Dividends
N/ANo dividend or revenue distribution is currently active
Burns
N/ANo burn mechanism is currently active
Ownership
Raise History
3 rounds · $40.8m total| Date | Amount | Round | Valuation | |
|---|---|---|---|---|
| Jun 07, 2022 | $32m | — | $375m | |
| Aug 25, 2021 | $8m | Series A | $50m | |
| Dec 06, 2020 | $800,000 | Seed | $8m |
- Fundraising
- Token Sale
- Equity Revenue Capture
- No
- Associated Entities
- DAOFoundationLabs
- Domain
- Foundation