EthereumETHThe altcoin based on decentralized finance, or DeFi (decentralized financial institution), is rising in popularity after receiving support from a top US crypto exchange platform.
Coinbase posted a thread in a new forum. says Euler is now supported by the new Euler Support (EULThe protocol is built around the world’s second most valuable digital asset, measured by its market value.
“Euler (EUL) is now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
EUL’s price increased after the announcement. It went from a low of just $11.02 on August 6th to a high of $12.17 a mere day later. Since then, the asset’s price has stabilized at $12.17. This represents a 5.7% rise in just 24 hours.
The official spokesperson of the websiteEuler, which is a DeFi modular platform, allows permissionless vault creation. Anyone can create a vault to lend a particular asset by using the ERC 4626 token protocol. This extension to the ERC-20 standard extends it to vault tokens that yield return.
“Vaults are the fundamental building blocks of the Euler protocol, serving as the primitive unit for all lending and borrowing activities…
EVKs (Euler-Vault Kits) are ERC-4626-2 vaults which function as passive pools of lending. EVK vaults, unlike standard ERC 4626 vaults which generate yield via active investment strategies earn yield by loaning assets to borrowers. The vaults allow users to lend against collateral and accept ERC-20 deposits.
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