EraLend Review: Should You Use This Inactive Protocol?
EraLend is marked inactive, and it suffered a reported exploit in 2023. Don’t deposit funds unless you can independently confirm the protocol is operating safely again.
By the SkyBitcoins review team · Updated
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At a glance
EraLend key facts
| Type | Decentralized lending protocol |
|---|---|
| Chains | Telos, zkSync Era |
| Token | None listed |
| Status | Marked inactive |
| Exploit | Reported in July 2023; loss estimates vary |
| Audits | Two listed; scope and findings unknown |
| Value locked | $36−0.1% 7d |
| Updated |
EraLend FAQs
What is EraLend?
EraLend is a decentralized lending protocol listed on zkSync Era and Telos. Its stated purpose was to let users lend and borrow crypto assets.
Was EraLend hacked?
Yes. News reports say EraLend was exploited on July 25, 2023. Reported loss estimates differ, ranging from about $1.7 million in USDC to $3.4 million in digital assets.
Is EraLend still active?
EraLend is marked inactive. The available details do not establish that it has resumed operation, so don’t deposit or connect a wallet unless you can verify its current status and contract safety independently.
Compare
EraLend alternatives
Aave offers open crypto lending and borrowing, but variable rates, gas costs and liquidation risk make it best for informed DeFi users.
Aave V3 offers non-custodial lending and collateralised borrowing, but rates vary and deposits remain exposed to DeFi and liquidation risks.
Compound V3 offers variable-rate crypto lending across several networks, but market terms and liquidation risks require close checking.
Aave V4 offers non-custodial lending and collateralized borrowing, but rates vary and smart-contract, market and liquidation risks remain.
Euler V2 offers configurable lending markets across many chains, but check each vault’s rates, liquidity and liquidation rules before depositing.
Morpho Blue offers non-custodial lending markets and curated vaults, but rates change and supplied assets face smart-contract, oracle and market risks.
Same category
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SparkLend offers governance-set on-chain borrowing rates, but check each market’s live terms and liquidation risks before supplying collateral.
Morpho offers variable-rate and fixed-term lending plus curated vaults, but check each product’s fees, terms and risks before depositing.
Euler offers flexible crypto lending and market-building tools, but check each market’s fees, collateral rules and risks before depositing.
Nolus offers fixed-rate, asset-backed spot margin, but check live borrowing costs and liquidation terms before using leverage.
Dolomite offers multi-network lending, borrowing, swaps and strategies, but variable rates, liquidation and contract risks call for care.
NAVI offers variable-rate lending and collateralized borrowing on Sui, but users must weigh liquidation, smart-contract and liquidity risks.
Same chain
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Uniswap V3 offers wallet-based token swaps and concentrated liquidity, but check pool fees, gas, execution risks and price-range exposure.
vfat.io combines multi-chain yield discovery and portfolio tools with non-custodial position automation, but check costs and contract risks first.
LayerZero V2 powers cross-chain features in other apps; compare the exact route, fee and security settings before sending funds.
SushiSwap offers wallet-based token swaps across 30+ chains, but check each trade’s fees, route and contract risks before approving.
Symbiosis routes cross-chain swaps across 50+ networks, but check the live quote and route-specific risks before approving.
Alcor combines multichain swaps, order books and bridging, but check market liquidity, fees and bridge risks before trading.
How we checked
Sources
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