Lending protocol Euler has secured $4 million to enhance the security of its upcoming v2 protocol, incorporating extensive audits, modular design, and expert collaboration to set new safety standards in the DeFi industry.
Major Security Upgrade for Euler v2
Euler, a decentralized finance (DeFi) protocol, has allocated $4 million for a comprehensive security overhaul of its upcoming v2 platform. This move, backed by the Euler DAO, involves extensive code audits and the introduction of a modular architecture to reduce risks.
The v2 platform, set for release in the second quarter of 2024, will adopt a modular structure and will feature components like the Euler Price Oracle, Euler Vault Kit (EVK), and the Ethereum Vault Connector (EVC), which are designed to offer users greater flexibility in creating lending markets.
Security Lessons from 2023 Exploit
The push for enhanced security comes in the wake of a $200 million exploit that Euler suffered in March 2023. The incident
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