Euler Finance Announces Revamped DeFi Protocol After Last Year's Exploit
Euler Finance is bouncing back from a major exploit by introducing Euler v2, enhancing its DeFi lending platform with increased security and flexibility for users.
February 22, 2024
Reviving from a Setback
Coming back strong after a considerable exploit, Euler Finance announces Euler v2, a refreshed iteration of its DeFi lending protocol. Offering a non-custodial service, the protocol allows individuals to lend and borrow digital assets, backed by a more robust and customizable infrastructure to enhance user flexibility.
Building with Euler Vault Kit
At its core, Euler v2 integrates innovative components such as the Euler Vault Kit (EVK) and the Ethereum Vault Connector (EVC), empowering developers to create and interconnect their own lending vaults. This permissionless and modular approach echoes the DeFi ethos, promoting a decentralized and innovative financial environment.
A Commitment to Security
In response to the 2023 exploit involving a near $200 million loss, the Euler team has adopted a rigorous security mindset. CEO Michael Bentley emphasizes the upcoming intensive security measures, including a code audit competition, to ensure such vulnerabilities are thoroughly addressed before Euler v2's deployment planned for Q2 of this year.
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