EULER
The developers of Euler, the first lending protocol that allows users to create their own lending markets in a permissionless fashion, announced today that they have completed an $8 million Series A round led by Paradigm. The new funding will help to grow the Euler developer team in anticipation of the protocol’s launch later this year and provide support to help integrate the protocol into the wider DeFi ecosystem.
“The long tail of DeFi assets is enormous and underserved by existing lending protocols,” said Charlie Noyes, investment partner at Paradigm. “The Euler team is creating something that meets the need in a novel, scalable way, and we're excited to support the development.”
Lead seed round investor Lemniscap joined the round, which also included other leading angel investors such as Anthony Sassano from The Daily Gwei, Ryan Sean Adams from Bankless, Kain Warwick from Synthetix and Hasu from Uncommon Core.
Michael Bentley, co-founder of Euler said that the protocol had been, “Custom-built to support permissionless listing of almost any crypto asset, without governance limiting what people can lend or borrow.”
“A lot of research and development time has gone into figuring out how to allow users to lend and borrow almost any crypto asset in a capital-efficient way, whilst limiting the risks that some of these more volatile assets sometimes pose. Euler is purpose-built for people and organizations looking for long-term storage and yield opportunities.” added the co-founder of Euler.
Euler was incubated by Encode Club, a worldwide community of blockchain developers primarily associated with universities. It was at an Encode hackathon last summer that Bentley, himself a former postdoctoral researcher at the University of Oxford, met his co-founders, Jack Prior and Doug Hoyte.
The team’s goal is now to launch the protocol by the end of the year, integrate the protocol into the wider DeFi ecosystem, and start on the path to handing control of the protocol over to a decentralized community of custodians.
About Euler
Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party. Euler features a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans and much more. For more information, visit euler.finance .
About Paradigm
Founded in 2018, Paradigm is a leading crypto-focused investment firm based in San Francisco. The firm invests in crypto assets and businesses from the earliest stages of idea formation through maturity. Paradigm is driven by the conviction that crypto has the potential to bring greater freedom, autonomy, and economic benefit to people around the world, and supports that belief through investments in founders and projects that move the crypto ecosystem forward. For more information, visit paradigm.xyz.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005642/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NIQ Achieves Certification as Google Meridian Partner20.11.2025 12:00:00 CET | Press release
Certification strengthens NIQ’s position as a global leader in media outcomes measurement. NIQ, a leading consumer intelligence company, is proud to announce its certification as a Google Meridian partner, enabling NIQ to utilize Google’s open-source marketing mix models to measure marketing impact for advertisers. This achievement underscores NIQ’s commitment to delivering transparent and actionable outcome measurement solutions that help advertisers evaluate and optimize their marketing investments worldwide. Google's Meridian is an open-source Marketing Mix Model (MMM) designed to help businesses measure marketing effectiveness and optimize ad budgets across various media channels. By joining a select group of certified partners, NIQ is collaborating with Google to advance outcome measurement standards and introduce new innovations that complement NIQ’s proprietary MMM solution - helping make high-quality measurement more accessible to marketers everywhere. New Meridian innovations
BeOne Medicines Showcases Leadership in B-cell Malignancies at ASH 202520.11.2025 12:00:00 CET | Press release
BRUKINSA now demonstrates best-in-class sustained efficacy and long-term benefit with a favorable safety profile over more than six years of follow-up data in treatment-naïve and R/R CLLFirst results from Phase 1/2 sonrotoclax monotherapy study will demonstrate notable speed and depth of clinical responses in patients with R/R MCL, a rare, aggressive cancerNew efficacy and safety data will highlight the benefits of potential first-in-class BTK degrader BGB-16673 in patients across multiple hematological malignancies BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, advances its vision to become the world’s leading oncology company with extensive new data from its differentiated hematology portfolio at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition in Orlando, Florida, December 6-9. Nearly 50 abstracts have been accepted, including six oral presentations, featuring the company’s three transformative approved and investi
ZKB in Switzerland Completes ISO 20022 Migration Using Smartstream for Reconciliations20.11.2025 11:40:00 CET | Press release
Key Facts Zürcher Kantonalbank (ZKB) can now process ISO 20022 reporting messages ahead of the global SWIFT deadline, going live with Smartstream’s Corona MX solution as part of the Smart Reconciliations suite. The migration, executed in close collaboration with Smartstream and supported by ZKB’s ISO 20022 expertise, enhances the bank’s reconciliation capabilities, particularly for cash transactions across multi-account and currency operations. This strategic move strengthens ZKB’s commitment to innovation and compliance, enabling full payment lifecycle visibility and positioning the bank for future operational excellence. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces, Zürcher Kantonalbank (ZKB), the largest cantonal bank in Switzerland, has successfully completed its ISO 20022 migration project for reporting messages, now live with Corona MX - part of the Smart Reconciliations solutions suite. This milestone
PUMA Partners with Logistics Reply to Accelerate AI-Driven Innovation in Warehousing20.11.2025 11:00:00 CET | Press release
Logistics Reply, the Reply group company specialising in innovative supply chain, has extended its collaboration with global sportswear brand PUMA to further optimise daily logistics operations and enhance user experience through the integration of GaliLEA, an AI-powered assistant built on the LEA Reply™ platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120676732/en/ Thanks to GaliLEA, PUMA has seen significant improvements in their daily use of the LEA Reply WMS, including increased user autonomy with less reliance on external support, faster management through quick data access and assisted ticket creation, real-time operational insights for better decision-making, and streamlined logistics workflows that enhance overall system interaction. Following the successful rollout of the LEA Reply™ Warehouse Management System (WMS) across four key distribution centers in Austria, South Africa, and India between 2022 and
euNetworks Appoints Nick Walden as Chief Revenue Officer20.11.2025 10:00:00 CET | Press release
euNetworks has today announced the appointment of Nick Walden as Chief Revenue Officer, effective 02 December 2025. Nick will be based in London and will drive all facets of euNetworks’ sales and commercial strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120550034/en/ Nick Walden - CRO of euNetworks Nick joins euNetworks following 30+ years in the Telecommunications industry, most recently having led the Global Sales function for Infinera (now Nokia) as Senior Vice President – Worldwide Sales. Prior to this, Nick served as Senior Vice President & Managing Director EMEA at Infinera following over a decade of experience in leadership roles at Ciena. “It’s an incredibly exciting time to be joining euNetworks, building on their strong growth and momentum as a critical bandwidth infrastructure provider across Europe. euNetworks’ relentless customer obsession aligns closely with my passion for delivering value for cust
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom