Euler V2 · Ethereum

RLUSD (EVK Vault eRLUSD-7)

Overview

The Euler V2 RLUSD pool on Ethereum is a single-asset lending position where suppliers earn variable interest on stablecoin deposits through the EVK Vault eRLUSD-7 mechanism. The protocol generates yield by routing borrowing demand against pooled RLUSD liquidity and paying suppliers from the resulting interest spread. Total APY of 9.10% combines base lending at 1.10% with an additional reward layer of 8%. Over the past week, the rate has increased by 4.18%, while over the last month it has dropped by 31.59%, placing the current rate below the 30-day mean of 6.65%. TVL stands at $20.5M with no reported change in the past week; primary exposure is depeg risk on the underlying stablecoin. Given its status as a single-asset stablecoin pool, liquidity depth and stability are critical factors influencing supplier returns.

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 3.77%; 30-day mean is 4.64%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 86% confidence based on historical patterns.

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