An Ethereum (Ethics)-Based decentralized Finance (Defi) Altcoin increases after receiving support from the best US-based Crypto Exchange platform.
In a new thread, coinbase says It is to add support for euler (Tanklang), a lending and loan protocol built on top of the second largest digital asset by market value.
“Euler (EUL) now lives at http://coinbase.com and in Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
After the announcement, EUL saw a price increase and rose from August 6 low at $ 11.02 to a top of $ 12.17 just a day later. The asset has then stabilized and currently deals with $ 11.77, which corresponds to an increase of 5.7% over the past 24 hours.
According to its official WebsiteEuler is a modular defi platform that has permission-free vaulting, which means that someone can create a lending vault for a specific asset with the ERC-4626-token protocol, an extension of the popular ERC-20 standard that extends to the scope to provide the carrying vault tokens.
“Vaults is the basic building blocks of the Euler protocol, which acts as the primitive unit for all lending and borrowing activities …
EVK (Euler Vault Kit) Vaults is extended ERC-4626 vaults that act as passive lending pools. Unlike the standard ERC-4626 vault that generates returns through active investment strategies, EVK vault returns by lending assets to borrowers. These vaults accept the ERC-20 token deposits and allow users to borrow against their collateral. “
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