Provider at a glance
- Category
- Lending & Borrowing
- Entity
- Not verified
- Official website
- euler.finance
Independent rankingchecked How it works
Details
Scored 77 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Euler V2
Modular vault-based lending
Lending & Borrowing
#4 Overall
Ranked #4 of 8 lending & borrowing in the published ranking
77
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Euler V2 right for you?
Right for you if these matter most
- Contagion between markets9/10, the category best
- Loss record published8/10; the category best is 9
Look elsewhere if these come first
- Liquidation price7/10 here; Spark scores 8
- Who sets your rate8/10 here; Spark scores 10
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best crypto lending platform shows where it lands for you.
What will Euler V2 cost you?
Not priced on this basis
- Amount borrowed
- $10k
How safe is Euler V2?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
Alternatives to Euler V2
Compare all 4- 2Spark3 points above · stronger on who sets your rate (10 against 8)80$396
- 3Morpho1 point above · stronger on who sets your rate (9 against 8)78
- 5Kamino Lend3 points below · weaker on liquidation price (6 against 7)74
For your setup
Find out if Euler V2 fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Euler V2 lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best crypto lending platformNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Euler V2 ranks #4
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (25.3 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
327+7.176.59#3/8Loading evidence…
248+6.149.010#6/8Loading evidence…
249+6.918.09#1/8Loading evidence…
208+5.127.09#2/8Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−1behind Morpho, #3
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 75–79 and ranks #3–#4
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Euler V2’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
What price gets you liquidated, and how far can it drift? 7 → 8 on its ladder · passes Morpho+179#4 → #3
Who sets your rate — a utilisation curve or a curator? 8 → 9 on its ladder · passes Morpho+179#4 → #3
If one market goes bad, how much of yours goes with it? 9 → 10 on its ladder · passes Morpho+179#4 → #3
Has it lost lender money before, and did it publish it? 8 → 9 on its ladder · passes Morpho+179#4 → #3
What price gets you liquidated, and how far can it drift? 7 → 5 on its ladder · Kamino Lend passes it−273#4 → #6
Who sets your rate — a utilisation curve or a curator? 8 → 5 on its ladder · Kamino Lend passes it−373#4 → #6
If one market goes bad, how much of yours goes with it? 9 → 6 on its ladder · Kamino Lend passes it−373#4 → #6
Smallest climb: “What price gets you liquidated, and how far can it drift?” 7 → 8 passes Morpho, #3.
Strengths
2 from the score dataWhere it leads
Best for readers who weight
- If one market goes bad, how much of yours goes with it? — 9/10, the category best
- Has it lost lender money before, and did it publish it? — 8/10, category best 9/10
Tradeoffs
2 from the score dataWhere it trails
Not for readers who put first
- What price gets you liquidated, and how far can it drift? — 7/10 against a category best of 9/10
- Who sets your rate — a utilisation curve or a curator? — 8/10 against a category best of 10/10
Record watch-outs
- Read the vault page before the protocol page. On Euler the protocol does not set your terms — one vault does, and Euler says so: 'Pause, guardian, curator, allocator, fee-recipient, cap, oracle, and other powers may belong to different addresses' (https://docs.euler.finance/learn/risk-curators). Before depositing, pull the specific vault's bad-debt row from Euler's own API — the borrowVault filter is a documented parameter and works: https://v3.euler.finance/v3/evk/vaults/bad-debt?chainId=1&borrowVault=YOUR_VAULT — because the security page will not tell you. On 2026-08-17 that endpoint carried $166,460,285.30 of standing bad debt across eleven chains, $134,245,336.28 of it priced within the minute. The single largest row, on one Plasma vault (0x57c582346B7d49A46Af3745A8278917D1c1311b8, 19 accounts), was $86,609,850.77 then ($90.76M debt against $4.15M collateral) and ~$90,813,221.34 on 2026-09-28, with collateral now $0 — the Plasma wipeout Euler describes in prose without ever attaching a number to it. On mainnet eUSDC-64, then the fifth-largest market by borrows, carried $13,604,080.55 of bad debt against $14,383,648.32 of borrows, and on 2026-09-28 it was still mainnet's largest bad-debt row at ~$13,609,495.61; socializeDebt is true on it, so that write-down falls on that vault's depositors alone, and there is nothing left to exit with — the vault reports utilization 1.0 and totalCash of 1 base unit (0.000001 USDC) against $14.38M supplied, with withdraw and redeem both flagged as hooked operations. Nothing on https://docs.euler.finance/security mentions any of it.
Competitive position
Where Euler V2 leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 814.0 of 20 · constant here
Published criteria#4 / 819.0 of 30 · best 20.4
Friction#1 / 82.7 of 10 · constant here
Trust record#1 / 83.2 of 8 · constant here
Measured data#1 / 88.3 of 18 · constant here
Where Euler V2 leads
- What price gets you liquidated, and how far can it drift?#3 / 8
- If one market goes bad, how much of yours goes with it?#1 / 8
- Has it lost lender money before, and did it publish it?#2 / 8
Where it trails
- Who sets your rate — a utilisation curve or a curator?#6 / 8
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Morpho#3 of 8 · score 78 · 1.0 point ahead
Euler V2 leads on
- Has it lost lender money before, and did it publish it?8 vs 7
Morpho leads on
- Who sets your rate — a utilisation curve or a curator?9 vs 8
Largest single reason Morpho is ahead: published criteria (+0.3 display points).Scenario cost: Morpho has no verified pricing for this scenario.
Kamino Lend#5 of 8 · score 74 · 3.0 points behind
Euler V2 leads on
- What price gets you liquidated, and how far can it drift?7 vs 6
- Has it lost lender money before, and did it publish it?8 vs 7
Kamino Lend leads onNo scored criterion
Largest single reason Euler V2 is ahead: published criteria (+3.1 display points).Scenario cost: Kamino Lend has no verified pricing for this scenario.
Spark#2 of 8 · score 80 · 3.0 points ahead
Euler V2 leads on
- If one market goes bad, how much of yours goes with it?9 vs 8
- Has it lost lender money before, and did it publish it?8 vs 7
Spark leads on
- What price gets you liquidated, and how far can it drift?8 vs 7
- Who sets your rate — a utilisation curve or a curator?10 vs 8
Largest single reason Spark is ahead: published criteria (+2.3 display points).Scenario cost: Euler V2 has no verified pricing for this scenario.
Against the leader
81 vs 77 · gap 4.0Why Venus ranks above Euler V2
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 4.0 to within rounding.
DimensionThisVenusGap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight19.020.4−3.6, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisVenusPoints
What price gets you liquidated, and how far can it drift? · w3279−2.05, worse
Who sets your rate — a utilisation curve or a curator? · w2489−0.77, worse
If one market goes bad, how much of yours goes with it? · w2497+1.54, better
Has it lost lender money before, and did it publish it? · w2089−0.64, worse
Net7781−4.0
Your scenario
Euler V2 is not priced for this scenario
Interest on what you borrow at the published rate. Variable rates move; excludes origination and liquidation penalties. Change an input and every figure recomputes from the published rate; the published rank does not move.
interest/yr · default scenario — set your own
Amount borrowed · your input$10k
Rate read from the provider’s published pricing ↗ on 28 September 2026.
interest/yrCost is stated as interest/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory median and cheapestNot statedOnly 1 of 8 rows publish a comparable price; a median and a cheapest row need at least 3.
7 of 8 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 28 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #3 to #4 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 28 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
What price gets you liquidated, and how far can it drift?strength 7 · weight 32Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Who sets your rate — a utilisation curve or a curator?strength 8 · weight 24Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.If one market goes bad, how much of yours goes with it?strength 9 · weight 24Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Has it lost lender money before, and did it publish it?strength 8 · weight 20Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Control failure (Euler V2 8/10): a key or vote changes the rules, freezes or mints.Scored by Who sets your rate — a utilisation curve or a curator? · 24%
- Oracle failure (Euler V2 7/10): a wrong price or outcome liquidates or settles a position.Scored by What price gets you liquidated, and how far can it drift? · 32%
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by If one market goes bad, how much of yours goes with it? · 24% (Euler V2 9/10)Scored by Has it lost lender money before, and did it publish it? · 20% (Euler V2 8/10)
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- Euler charges no protocol fee today; a supplier's cost is the vault-level interest fee a curator or governor sets. The Interest Rates page (https://
docs .euler .finance /learn /interest-rates, fetched 28 September 2026) states: "Euler does not currently charge protocol fees. In April 2026, Fee Flow was turned off and Euler protocol fees were set to 0% across live and future deployments. The DAO can reintroduce protocol fees through future governance." and "Curators and vault governors can still configure vault-level fees where supported by the vault. For EVK vaults, the interestFee parameter can allocate a portion of borrower interest to the configured fee receiver." It adds that "EVK interest fees are denominated in vault shares." Per-vault interestFee values are Data API fields, not page text, and vary by vault; supply and borrow rates float with each vault's own IRM, so no fixed APY is quoted.Euler V2 — official pricing page ↗ · 28 September 2026 - Prices published in
- USDEuler V2 — official pricing page ↗ · 28 September 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Not published
- Supported chains
- ethereum, arbitrum, base, polygon, bsc, avalanche, linea, unichain, monad, hyperevm, plasma
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- The protocol itself is permissionless and the Terms of Use (updated and effective 4 May 2026, https://
www .euler .finance /terms) name no country list, only sanctions and a general clause: users must 'Not be a resident or located in any jurisdiction where the use of the Products or Protocol is prohibited by law.' (quote verified character-exact 17 August 2026). The FRONT END, however, applies asset-level country blocks that a buyer will actually hit: https:// v3 .euler .finance /v3 /geo-policies (re-read 17 August 2026) returns per-asset rules including policyType 'block' with countries ['CA','US'] for Ondo tokenized assets (assetNameRegex '^ondo($| )|\(ondo tokenized\)') on Base and Monad and for xStocks on Arbitrum, and policyType 'restrict' with countries ['BR','EFTA','EU','GB','HK','MY','SG'] for Backed-issued assets (assetNameRegex '^(wrapped )?backed'). So: global for the core money markets, geofenced per tokenized-asset market.
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Euler V2: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 28 September 2026Current verified snapshot · methodology 2026.10.18Score 77, #4 of 8. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 11 October 2026
2026.10.9No live feed or market rate moves a score- fixed Lending and borrowing: the borrow rate leaves the fee term, which now scores every protocol alike, so the category ranks on its four published criteria. Venus, first on those criteria, moves from #7 to #1; Spark stays #2; Morpho moves from #1 to #3 and Compound from #8 to #6.
- fixed Exchanges: the fee term reads each exchange's taker fee from the catalog instead of a table dated 1 April. Kraken (0.80 %) moves from #6 to #9 and Gemini (1.20 %) from #10 to #11; Coinbase, Luno, Bitvavo and VALR each move up one place, and Bybit stays #1.
- removed Staking: a yield no longer stands in for a staking provider's missing commission. No published score moves.
- added /methodology/live-data publishes which numbers may move a score; on every build a test fills each live feed with extreme values and fails if a single score moves.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.10.18, the same published run every visitor sees · receipt lending_borrowing:euler:2026.10.18:57a5bb9ffe4f
Are you Euler V2? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.