Euler V1 Review: Is the Inactive Protocol Still Usable?
Euler V1 is marked inactive, so it is not a protocol to choose for new deposits or borrowing. The current Euler site describes newer lending products, and those details should not be treated as V1 features.
By the SkyBitcoins review team · Updated
At a glance
Euler V1 key facts
| Type | Crypto lending protocol |
|---|---|
| Chain | Ethereum |
| Status | Inactive |
| Token | EUL |
| Value locked | $23.3K−8.6% 7d |
| Audits | 2 audits listed |
| Updated |
Euler V1 FAQs
Can you still use Euler V1?
Euler V1 is classified as inactive. That means you should not assume its markets are open or that deposits and borrowing will work; check the specific V1 contracts and market status before interacting.
What is the EUL token used for in Euler V1?
EUL is listed as Euler V1’s token. The information here does not establish what utility or role EUL has in the inactive V1 protocol, so do not assume it grants access to V1 markets.
Is Euler V1 the same as the current Euler app?
Euler V1 is identified as an Ethereum lending protocol, but its V1-specific fees, audits, and current contract status are not established. The current Euler website describes lending products, but you should not assume they are V1.
Compare
Euler V1 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
More Lending dApps
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
More on Ethereum
Lido turns staked ETH into liquid stETH, but variable rewards, a 10% reward fee and withdrawal and contract risks need checking.
Bitvavo offers euro funding, 400+ crypto assets and Pro Mode, but check withdrawal terms and the separate risks of staking and leverage.
GetBlock suits teams needing multi-chain RPC and data services, but check usage billing, coverage and SLA terms before relying on it in production.
Uniswap offers wallet-based swaps and liquidity pools across 15+ networks, but pool fees, gas and self-custody risks still matter.
Arbitrum Bridge is a direct way to move supported assets between Ethereum and Arbitrum One, but Ethereum withdrawals typically take around seven days.
Uniswap V2 enables wallet-based swaps and liquidity provision, but check the pool, network, gas and token risks before you trade.
How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.