Thread by @aztecnetwork

We're thrilled to announce @eulerfinance as the first yield protocol supported on Aztec's 4626 bridge.

What is Euler?

How do you earn yield?

How do we achieve private lending at 7.5x lower gas fees than mainnet Ethereum?

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Euler is a non-custodial permissionless lending protocol that helps users earn interest on their crypto assets without relying on trusted third-parties.

Euler is unlike @AaveAave and @compoundfinance which are partially permissioned.

In those markets, governance must approve new markets manually.

Euler is designed to allow trading of illiquid or volatile assets permissionlessly--anyone can create new lend-borrow markets.

So--how yield?

In any lending market there are two sides:
- Borrowers who pay interest
- Lenders who receive interest

Euler has implemented the lending side of the protocol using a ERC-4626 wrapper.

That means Euler yielding eTokens conform to the ERC-4626 standard and making it wildly easy for Aztec to integrate.

Starting today, you can lend funds to the Euler protocol privately on Aztec.

Earn:
- 6.44% on $wETH
- 5.87% on $wstETH (normal $wstETH yield + 0.67%)
- 2.81% on $DAI

All at up to 7.5x cost savings over mainnet Ethereum due to cost savings from DeFi batching.

It's worth noting that listing new contracts on the Aztec 4626 bridge is itself permissionless!

Anyone can do it by calling a public function on the ERC4626 bridge called 𝚕𝚒𝚜𝚝𝚅𝚊𝚞𝚕𝚝.

We'll be supporting $DAI, $ETH, and $wstETH lending from our first-party product zk.money.

And the 4626 bridge contract is now deployed and available for developers to build on top of.

Have an idea involving private yield (private DAO treasury management, perhaps?).

Come collect $20,000 of prizes at #ETHBogota
Dig into our docs: docs.aztec.network
And apply to our Grants program: aztec.network/grants

Have questions?

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