Decentralized finance (DeFi) platform Euler Finance (EUL) attracted attention by introducing a revamped version of its lending systems.
Euler Finance, lMore flexibility to ending protocols will bring and Ethereum based vaults It appeared before investors with an update that will pave the way for its use as collateral for other protocols.
In the statement Euler v2 in the second quarter of 2024 It was stated that it would be implemented. With the update description EUL at the price Up to 30% increase was seen.
However, last year he experienced 200 million dollar cyber attack Having learned their lesson, the team started a new competition and encouraged white hat hackers to identify vulnerabilities in the security protocol.
Euler CEO made a statement about the development, according to an interview reported by CoinDesk Global. Michael Bentleytalked about the advantages that Euler v2 will bring:
The Euler Vault (vault) kit is a very abstract, agnostic developer kit for building your own lending markets. Besides that, Ethereum Vault Connector is a communication protocol like TCP-IP is for the internet. We claim that you can probably build any pre-existing lending protocol or any future lending protocol with Euler v2.
According to CoinGecko data, EUL, which was positively affected by the statements made, increased by 30% in the last 24 hours. $4.76 from level 6.24 It climbed to the dollar.