Euler's $EUL was added to @Grayscale's assets under consideration.
No wonder, with such QoQ growth:
- TVL: +53%
- Fees Collected: +110% ($12M to $26M)
- Net Revenue: +90% ($1.83M)
- Incentives Distributed: $700K to $3.1M
- Net Income for EUL Holders: +120%
Euler.
🟣 Euler doubled its revenue last quarter.
The lending protocol @eulerfinance has seen exponential growth this year, particularly during the last quarter:
⬜️ TVL: +53% QoQ
⬜️ Fees collected: +110% QoQ ($12M → $26M), representing a cumulative annual growth of 1,000% (with a more representative median rate around 477%)
⬜️ Net revenue: +90% QoQ ($1.83M)
Despite a sharp increase in distributed incentives (from $700K to over $3.1M), Euler’s profitability kept growing.
👉 What does this mean for users?
Net income for EUL token holders rose by 120% over the period, thanks to the protocol’s buyback & burn mechanism (50% of revenue is used for that purpose).
🔎 In other words, Euler is one of the few lending protocols whose profitability is growing faster than its balance sheet.
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