Euler V2 · Ethereum

USDC (EVK Vault eUSDC-80)

Overview

The Euler V2 USDC pool on Ethereum is a single-asset lending position where suppliers earn variable interest on stablecoin deposits. The protocol generates yield by matching depositors with borrowers seeking USDC loans, and it pays out the resulting interest spread to lenders. Total APY stands at 2.39%, composed solely of base lending income with no additional reward component. Over the past week, the rate has increased slightly by 0.18%, while over the last month, it has declined by 2.25%. This current rate is below the 30-day mean of 3.55%. TVL in this pool stands at $30M with no reported change over the past week. The primary risk here is depeg risk on the underlying stablecoin USDC, as single-asset stablecoin pools are vulnerable to fluctuations in peg stability. This liquidity depth supports typical utilization rates for such lending arrangements.

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 2.89%; 30-day mean is 2.87%. 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.