# Euler v2 Vaults: Deposits, Loans and Liquidations > Euler v2 lending vaults on every chain: deposits, loans and rates per vault, its governor and accepted collateral, liquidations, socialized debt and EulerSwap. Markdown copy of https://voltfincrypto.com/apps/euler-v2-vaults **Question:** How much is lent through Euler v2 vaults, on what terms and under whose risk settings? - Kind: Dashboard in Voltfin Vantage - Topic: [DeFi](https://voltfincrypto.com/topics/defi) - Chains: Multi-chain, Ethereum, Base, Arbitrum, Avalanche, BNB Chain, Sonic, Berachain, Unichain, Plasma - Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is. 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. ## Blueprint ### 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. - **Loans** (USD): Assets borrowed from the same vaults, from totalBorrows() valued the same way. - **Loans to deposits** (%): Total loans over total deposits across the selected vaults at the same block. - **EulerSwap volume, 7 days** (USD): Swaps filled by EulerSwap pools on the selected chains over the last 7 days. - **Every vault**: Each vault with asset, chain, governor, deposits, loans, borrow APY, supply APY and the number of collateral vaults it accepts. - **Deposits by governor** (USD): Deposits and loans by vault governor, so the curators responsible for the most lender funds stand out. - **Deposits by chain** (USD): Deposits in Euler v2 vaults by day, split by chain. ### 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. - **Debt socialized** (USD): Debt written off against lenders in the period, from DebtSocialized events, valued at the vault's oracle price. - **Governor changes**: Every change a governor made in the period: collateral added or removed, loan-to-value ramps, caps and oracle changes, with blocks. Filters: 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). ## How it will be measured - 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. - 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. - 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. - Liquidations are Liquidate events and socialized losses are DebtSocialized events, each valued at the vault's oracle price at that block. - EulerSwap activity is read from its pools' swap events, together with the vault deposits and borrows that make up each pool. ## Data it needs - `lending_markets_daily` (to build): Supply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end. - `yield_rates_daily` (to build): Supply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table. - `liquidations` (to build): Every liquidation on major lending markets and perp venues: collateral seized, debt repaid, liquidator, and the price at the time. - `dex_swaps_daily` (to build): Swap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices. - `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time. - Source: Euler Vault Kit factory ProxyCreated events on each chain, for the list of vaults - Source: Vault totalAssets(), totalBorrows(), cash(), interestRate() and interestFee() at day-end blocks - Source: LTVList() and each collateral's borrow and liquidation LTV, with GovSetLTV, GovSetCaps and GovSetGovernorAdmin events - Source: Liquidate and DebtSocialized events - Source: EulerSwap factory and pool swap events - Source: Each vault's oracle price at the same block, and Chainlink feeds for USD values ## Questions ### 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. ## Glossary - **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. ## Related apps - [DeFi Lending Market Share: Aave, Morpho, Spark and Euler](https://voltfincrypto.com/apps/defi-lending-market-share) - [DeFi Lending Rates Table: Utilization and LTV by Market](https://voltfincrypto.com/apps/defi-lending-rates-table) - [Morpho Vaults: Curator Allocations and Collateral Exposure](https://voltfincrypto.com/apps/morpho-vaults-curator-exposure) - [DeFi Lending Bad Debt Tracker](https://voltfincrypto.com/apps/defi-lending-bad-debt) - [DeFi Liquidations Tracker: Lending and Perp DEXs](https://voltfincrypto.com/apps/defi-liquidations-tracker) - [DeFi TVL by Chain: Total Value Locked Rankings](https://voltfincrypto.com/apps/defi-tvl-by-chain) Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F