Euler XYZ

Euler XYZ offers a non-custodial protocol based on Ethereum that enables users to lend and borrow a number of cryptocurrencies. The platform offsets liquidation risk by classifying assets into risk-based tiers and enables users to borrow/lend multiple assets at a given time. Users can also use multiple assets as collateral, with the riskiest assets being placed in isolation pools where users can borrow and lend but can’t use them as collateral. The protocol operates as a DAO and is governed by its native token EUL. 

Funding and financials

In June 2022, Euler XYZ raised USD 32 million in a funding round led by Haun Ventures at a valuation of USD 375 million. The company earmarked the funds to support the onboarding of new ecosystem partners and diversify the treasury assets of the Euler DAO