Dashboard · VantagePlanned

Euler v2 Vaults: Deposits, Loans and Liquidations

How much is lent through Euler v2 vaults, on what terms and under whose risk settings?

Every Euler v2 lending vault by chain: deposits, loans, rates, its governor, accepted collateral and what was liquidated or socialized.

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Blueprint

What the dashboard will show.

The dashboard as it will open in Vantage. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.

  • Chain
  • Governor
  • Period

Vaults

Deposits, loans and rates per Euler v2 vault, by chain and governor.

Deposits

USD

Assets deposited in every Euler v2 vault on the selected chains, from totalAssets() valued at oracle prices.

Figurelending_markets_dailyAwaiting data

Loans

USD

Assets borrowed from the same vaults, from totalBorrows() valued the same way.

Figurelending_markets_dailyAwaiting data

Loans to deposits

%

Total loans over total deposits across the selected vaults at the same block.

Figurelending_markets_dailyAwaiting data

EulerSwap volume, 7 days

USD

Swaps filled by EulerSwap pools on the selected chains over the last 7 days.

Figuredex_swaps_dailyAwaiting data

Every vault

Each vault with asset, chain, governor, deposits, loans, borrow APY, supply APY and the number of collateral vaults it accepts.

Tablelending_markets_dailyAwaiting data

Deposits by governor

USD

Deposits and loans by vault governor, so the curators responsible for the most lender funds stand out.

Bar chartlending_markets_dailyAwaiting data

Deposits by chain

USD

Deposits in Euler v2 vaults by day, split by chain.

Stacked arealending_markets_dailyAwaiting data

Terms and losses

Governor changes, liquidations and socialized debt.

Liquidated in the period

USD

Debt repaid in liquidations on the selected vaults in the period, from Liquidate events.

FigureliquidationsAwaiting data

Debt socialized

USD

Debt written off against lenders in the period, from DebtSocialized events, valued at the vault's oracle price.

FigureliquidationsAwaiting data

Governor changes

Every change a governor made in the period: collateral added or removed, loan-to-value ramps, caps and oracle changes, with blocks.

Listlending_markets_dailyAwaiting data

Chain
Every chain with Euler v2 vaults, or all chains
Governor
Every vault governor, escrow vaults or all vaults
Period
Last 7, 30 or 90 days
About

What it answers, and for whom.

Euler v2 is a lending protocol built from separate vaults. Each vault holds one asset, lends it out and sets its own rules: which other vaults count as collateral, at what loan-to-value, with which oracle and which rate model. This dashboard reads every vault deployed through the Euler Vault Kit on each chain, with its deposits, loans, rates and the terms it lends on.

Vaults differ in who controls them. A governed vault has a governor who can change its collateral, limits and oracle, often a risk curator running a cluster of vaults that accept each other as collateral. An escrow vault has no governor, does not lend and only holds collateral. The dashboard names each vault's governor and lists every change it made, because those changes decide the risk lenders carry.

The Ethereum Vault Connector ties the vaults together: one account can use deposits in several vaults as collateral for a loan in another, with sub-accounts kept apart. Liquidations pay a discount that grows the further a position is past its limit, and debt left once collateral runs out can be socialized among a vault's lenders, so both are read from the vaults' own events. EulerSwap pools, which keep their liquidity in the same vaults, are shown beside them.

Method

How it will be measured.

Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.

How receipts work →
  1. Vaults come from the Euler Vault Kit factory's ProxyCreated events on each chain; each vault's asset, governor, oracle and rate model are read from its own getters.
  2. Deposits are totalAssets(), loans are totalBorrows() and idle funds are cash(); the borrow rate is interestRate(), a per-second rate converted to APY; the supply rate follows from utilization and the vault's interest fee.
  3. Accepted collateral comes from LTVList() with each collateral's borrow and liquidation loan-to-value, and every GovSetLTV event is kept as a dated change.
  4. Liquidations are Liquidate events and socialized losses are DebtSocialized events, each valued at the vault's oracle price at that block.
  5. EulerSwap activity is read from its pools' swap events, together with the vault deposits and borrows that make up each pool.

The data it needs

Read from chain state and history

  • lending_markets_dailyTo buildLending marketsSupply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end.
  • yield_rates_dailyTo buildYields and ratesSupply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table.
  • liquidationsTo buildLiquidationsEvery liquidation on major lending markets and perp venues: collateral seized, debt repaid, liquidator, and the price at the time.
  • dex_swaps_dailyTo buildDEX volumeSwap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices.
  • native_prices_dailyTo buildOracle prices by dayReference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
  • Euler Vault Kit factory ProxyCreated events on each chain, for the list of vaults
  • Vault totalAssets(), totalBorrows(), cash(), interestRate() and interestFee() at day-end blocks
  • LTVList() and each collateral's borrow and liquidation LTV, with GovSetLTV, GovSetCaps and GovSetGovernorAdmin events
  • Liquidate and DebtSocialized events
  • EulerSwap factory and pool swap events
  • Each vault's oracle price at the same block, and Chainlink feeds for USD values
Questions

Questions people ask.

What is Euler v2?

Euler v2 is a modular lending protocol. Instead of one pool with shared settings, lending happens in individual vaults built with the Euler Vault Kit, each with its own asset, collateral list, oracle and rate model. Anyone can deploy a vault, and curators can group vaults into clusters.

What is the Ethereum Vault Connector?

The Ethereum Vault Connector, or EVC, is the contract that lets Euler vaults work together. It checks an account's health across all of its vaults after each batch of actions, so collateral in one vault can secure a loan in another. It also gives each address separate sub-accounts.

What is the difference between governed and escrow vaults?

A governed vault has a governor who can change its collateral, loan-to-value limits, caps and oracle. An escrow vault has no governor, does not lend and only holds collateral for loans in other vaults. Lenders in a governed vault depend on its governor's choices.

How do Euler liquidations work?

When a position's debt passes its liquidation loan-to-value, a liquidator takes over part of the debt and receives collateral at a discount. The discount grows with how far the position is past its limit, so most liquidations start small. Debt left with no collateral behind it can be socialized among the vault's lenders.

What is EulerSwap?

EulerSwap is an automated market maker whose liquidity sits in Euler vaults. While it waits to be traded against, that liquidity earns lending yield. A pool can also borrow against its own deposits to fill swaps larger than the assets it holds.

What happened to Euler v1?

Euler v1 was exploited in March 2023, and the attacker later returned most of the funds. Euler v2 is a separate set of contracts launched in 2024; this dashboard reads v2 vaults only.

Euler Vault Kit
The framework used to deploy Euler v2 lending vaults, each an ERC-4626 vault with borrowing added.
Cluster
A group of Euler vaults that accept each other as collateral, usually run by one governor.
Socialized debt
Debt left after a liquidation has taken all of a borrower's collateral, written off against the vault's lenders.
Sub-account
One of the separate accounts each address can use on Euler, so positions with different risks stay isolated.

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