Lenders deposit funds into Euler and receive interest payments from borrowers (supply-side fees).

Euler is a non-custodial lending protocol built on Ethereum. Euler was founded by Michael Bentley, Doug Hoyte & Jack Prior and launched in 2021.

EUL tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Euler’s investors include Paradigm, Lemniscap, Launchhub Ventures, etc.

governance

github

twitter

discord

etherscan

website

Lending

Euler

# euler Tradeable Assets Methodology

## 1. Overview

Tradeable Assets measures the cumulative number of unique assets available for trading through EulerSwap. This metric reflects the expansion of the protocol's ecosystem by tracking the historical introduction of new assets across all supported liquidity pools. Each unique asset is counted once upon its first appearance in a pool deployment event, providing a measure of the total asset diversity supported by the protocol.

## 2. Data sources

- **Blockchain events**: `PoolDeployed` and `PoolConfig` events from `EulerSwapFactory` contracts, and `Initialize` events from `PoolManager` contracts, covering Ethereum, Arbitrum, Avalanche, Base, and 4 other chains
- **External data**: Asset metadata for symbol and decimal normalization

## 3. Step-by-step calculation

### Component A: Trading pair identification

- **Purpose**: Identify all liquidity pools deployed across EulerSwap versions.
- **Logic**: `PoolDeployed` and `PoolConfig` events are parsed from `EulerSwapFactory` contracts to identify new trading pairs. For integrations involving Uniswap V4, `Initialize` events from `PoolManager` contracts are joined with factory deployment events using transaction hashes to capture the relevant pool configurations and fee tiers.
- **Key fields**: `in_asset0`, `in_asset1`, `in_pool`, and `transaction_hash`.

### Component B: Asset extraction and normalization

- **Purpose**: Extract unique asset addresses from identified trading pairs.
- **Logic**: Token addresses for both assets in every identified pair are extracted. Native asset placeholders (null addresses) are converted to their respective wrapped native token addresses based on the specific chain. Asset symbols and decimals are mapped from metadata tables to ensure consistent identification across different protocol versions.
- **Key fields**: `token0_address`, `token1_address`, and `chain`.

### Component C: Cumulative asset aggregation

- **Purpose**: Calculate the total count of unique assets over time.
- **Logic**: The earliest timestamp for each unique asset address is identified to determine its first appearance on the protocol. New assets are aggregated into daily counts based on these initial timestamps. A cumulative sum is then applied to the daily counts, partitioned by chain and product, to determine the total number of tradeable assets available at any given point in time.
- **Key fields**: `block_timestamp`, `token_address`, and `chain`.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of unique tokens tradeable on the exchange.

EulerEUL

Tradeable assets

Tradeable assets

Competitive landscape

Chain breakdown