Euler V2 · Ethereum

PYUSD (EVK Vault ePYUSD-8)

Overview

The Euler V2 PYUSD pool on Ethereum is a single-asset stablecoin lending position where suppliers earn variable interest on deposits of the PYUSD token. The protocol generates yield by matching borrowing demand against pooled liquidity and distributing the resulting interest to lenders.

Total APY stands at 4.52%, combining base lending with an additional reward layer. Over the past seven days, the rate has risen by 0.44%, while over the last thirty days it has declined by 2.45%. This current rate is below the 30-day mean of 5.76%.

TVL in the pool stands at $7.26M with no reported change over the past seven days. The primary risk for suppliers here is depeg risk on the underlying stablecoin, PYUSD. Euler V2’s lending mechanism ensures that interest rates adjust based on market conditions and liquidity demand, influencing overall yield stability.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 0.01%; 30-day mean is 4.46%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 70% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.