Euler launches v2 modular DeFi lending protocol

ChainCatcher news, Euler has launched the v2 modular DeFi lending protocol. Unlike Euler v1 (which is similar to DeFi lending protocols like Compound and Aave), v2 has been redeveloped as a "meta-lending protocol." It aims to enable builders to create highly customizable lending vaults and open up on-chain credit use cases, addressing the fragmentation and capital inefficiency issues of isolated lending markets.

Michael Bentley, CEO of Euler Labs, stated that before returning to the company, Euler had undergone 31 audits from firms such as Certora, Omniscia, OtterSec, Open Zeppelin, and Trail Of Bits, and a bug bounty program will be launched this week.

It is reported that on March 13, 2023, Euler Finance suffered a hack, resulting in losses of up to $197 million, but after successful negotiations, the hacker returned all stolen funds in early April.