Euler V2

Euler V2 is a modular lending protocol. Rather than one pooled market, it deploys an independent vault per market, each with its own oracle, risk configuration and governor. Every vault is an ERC-4626 vault over a single underlying asset, so supplying to Euler is a vault deposit and the position is held as vault shares. This plugin provides the standard vault operations (deposit, mint, withdraw, redeem) plus Euler-specific reads for liquidity, borrow demand, interest accrual and vault configuration.

Supported chains: Ethereum, Base. Each vault is a separate contract - you must provide the vault address when configuring actions. Read-only actions work without credentials. Write actions require a connected wallet.

Actions

Action	Type	Credentials	Description
Vault Deposit	Write	Wallet	Deposit assets into an Euler V2 vault and receive shares
Vault Mint	Write	Wallet	Mint an exact number of shares by depositing the required assets
Vault Withdraw	Write	Wallet	Withdraw assets from a vault by specifying asset amount
Vault Redeem	Write	Wallet	Redeem vault shares for underlying assets
Vault Underlying Asset	Read	No	Get the address of the underlying asset token
Vault Total Assets	Read	No	Get the total underlying assets held by the vault
Vault Total Supply	Read	No	Get the total supply of vault shares
Vault Share Balance	Read	No	Get the vault share balance of an address
Convert Shares to Assets	Read	No	Convert a share amount to its underlying asset value
Convert Assets to Shares	Read	No	Convert an asset amount to the equivalent shares
Preview Vault Deposit	Read	No	Preview how many shares a deposit would yield
Preview Vault Mint	Read	No	Preview how many assets minting shares would cost
Preview Vault Withdraw	Read	No	Preview how many shares a withdrawal would burn
Preview Vault Redeem	Read	No	Preview how many assets a redemption would yield
Max Vault Deposit	Read	No	Get the maximum depositable amount for a receiver
Max Vault Mint	Read	No	Get the maximum mintable shares for a receiver
Max Vault Withdraw	Read	No	Get the maximum withdrawable amount for an owner
Max Vault Redeem	Read	No	Get the maximum redeemable shares for an owner
Vault Decimals	Read	No	Get the decimals of the vault share token
Available Cash	Read	No	Get the underlying asset held by the vault and available to withdraw or borrow
Total Borrows	Read	No	Get the total underlying asset currently borrowed from the vault
Borrow Interest Rate	Read	No	Get the current borrow rate as a yield per second, scaled by 10^27
Interest Accumulator	Read	No	Get the vault’s monotonic interest accumulator
Accumulated Fees	Read	No	Get shares accrued as protocol and governor fees
Debt Of Account	Read	No	Get the underlying asset an account owes the vault
Vault Oracle	Read	No	Get the price oracle the vault is configured with
Unit Of Account	Read	No	Get the unit of account the vault denominates risk calculations in, a token address or an ISO-4217 code
Vault Connector	Read	No	Get the Ethereum Vault Connector the vault is bound to
Vault Creator	Read	No	Get the address that deployed the vault

Vault Deposit

Deposit underlying assets into an Euler V2 vault and receive vault shares in return. The number of shares received depends on the current exchange rate, which rises as borrowers pay interest. Requires prior token approval for the vault contract.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address
assets	uint256	Asset Amount (wei)
receiver	address	Receiver Address

Outputs: success, transactionHash, transactionLink, error

When to use: Supply idle assets to an Euler market, automate recurring deposits, move a position into whichever market pays the best supply rate.

Vault Mint

Mint an exact number of vault shares, depositing whatever amount of underlying asset is required at the current exchange rate. Use this when the target is a share count rather than an asset amount.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address
shares	uint256	Shares Amount (wei)
receiver	address	Receiver Address

Outputs: success, transactionHash, transactionLink, error

When to use: Match a share position exactly, top a position up to a round share count.

Vault Withdraw

Withdraw a specific amount of underlying assets from an Euler V2 vault, burning the corresponding shares from the owner. A withdrawal is limited by the vault’s available cash, so a heavily utilised market may not be able to service the full amount.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address
assets	uint256	Asset Amount (wei)
receiver	address	Receiver Address
owner	address	Share Owner Address

Outputs: success, transactionHash, transactionLink, error

When to use: Withdraw a target asset amount, automate partial exits on a condition, rotate out of a market whose rate has fallen.

Vault Redeem

Redeem a specific number of vault shares for the underlying assets. The amount received depends on the current exchange rate. Redeeming the full share balance exits the position completely.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address
shares	uint256	Shares Amount (wei)
receiver	address	Receiver Address
owner	address	Share Owner Address

Outputs: success, transactionHash, transactionLink, error

When to use: Exit a position entirely without computing the asset amount first, redeem a specific share amount.

Available Cash

Get the amount of underlying asset currently held by the vault and available to withdraw or borrow. Total assets minus cash is what borrowers hold.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address

Outputs:

Output	Type	Description
cash	uint256	Underlying asset available in the vault

When to use: Check a withdrawal will succeed before attempting it, alert when a market’s liquidity falls below a threshold.

Total Borrows

Get the total amount of underlying asset currently borrowed from the vault.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address

Outputs:

Output	Type	Description
totalBorrows	uint256	Underlying asset currently borrowed

When to use: Compute utilisation alongside Available Cash, track borrow demand on a market over time.

Borrow Interest Rate

Get the vault’s current borrow interest rate, expressed as a yield per second scaled by 10^27. This is the rate borrowers pay, not the rate suppliers receive; the supply rate is lower by the protocol fee and by the share of the vault sitting as idle cash.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address

Outputs:

Output	Type	Description
interestRate	uint256	Borrow yield per second, scaled by 10^27

When to use: Compare borrow costs across markets, trigger a workflow when a rate crosses a threshold.

Interest Accumulator

Get the vault’s interest accumulator, a monotonically increasing value scaled by 10^27. The ratio between the accumulator at two points in time is the interest factor over that interval, which makes it a more reliable basis for measuring realised yield than sampling a rate.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address

Outputs:

Output	Type	Description
interestAccumulator	uint256	Monotonic interest accumulator, scaled by 10^27

When to use: Measure interest actually earned between two runs rather than trusting an instantaneous rate.

Debt Of Account

Get the amount of underlying asset an account currently owes the vault, including accrued interest.

Inputs:

Input	Type	Description
contractAddress	address	Euler V2 Vault Address
account	address	Account Address

Outputs:

Output	Type	Description
debt	uint256	Underlying asset owed by the account

When to use: Monitor a borrow position, alert when debt grows past a threshold.

Example Workflows

Supply Rate Monitor

Schedule (hourly) -> Euler V2: Borrow Interest Rate -> Condition (> threshold) -> Discord: Send Message

Watch a market’s borrow rate and alert when it moves above a threshold.

Liquidity Guard Before Withdrawal

Schedule (daily) -> Euler V2: Available Cash -> Condition (>= target) -> Euler V2: Vault Withdraw -> Telegram: Send Message

Only attempt a withdrawal when the vault holds enough cash to service it, then confirm over Telegram.

Utilisation Report

Schedule (daily) -> Euler V2: Available Cash -> Euler V2: Total Borrows -> Math (borrows / (cash + borrows)) -> Slack: Send Message

Post a daily utilisation figure for a market.

Supported Chains

Chain	Reference Vault
Ethereum (1)	0x797DD80692c3b2dAdabCe8e30C07fDE5307D48a9 (eUSDC-2)
Base (8453)	0x07954BEB7e137101A7cbb3e47864C684aEC50524 (eUSDC-100)

Since each Euler V2 market is a separate vault contract, you must provide the vault address when configuring any action. The reference addresses above are used only for chain-availability metadata and as the fixtures the protocol test data binds to.

Technical Notes

Euler V2 vaults are deployed by GenericFactory as proxies that carry trailing metadata and dispatch each call to a module by delegatecall. An implementation ABI cannot be resolved through that indirection, so this plugin includes a full inline ABI covering the ERC-4626 interface and the Euler-specific view functions.

The four write functions carry a callThroughEVC modifier. When the caller is not the Ethereum Vault Connector, the vault routes the call through the connector itself and re-enters, so a direct call from an ordinary wallet works with no connector awareness on the caller side. Deposits and mints additionally run with no account status check, so supplying to a vault does not require a controller to be enabled. Withdrawals and redemptions are not symmetric with them: both run the account status check against the share owner, so withdrawing on behalf of a third party needs connector authorisation, and even a self-withdrawal can revert while that account has an open Euler borrow.

Vault decimals follow the underlying asset (6 for USDC markets, 18 for WETH markets). Vaults carry a supply cap: once a market reaches it, maxDeposit returns zero and the deposit leg reverts. Reading Max Vault Deposit before a deposit is the cheapest way to avoid that.