Euler V2 · Hyperliquid L1

UBTC (EVK Vault eUBTC-3)

Overview

The Euler V2 UBTC pool on Hyperliquid L1 is a single-asset lending position where suppliers earn variable interest on Bitcoin-denominated deposits through the EVK Vault eUBTC-3 mechanism. The protocol generates yield by routing borrowing demand against pooled UBTC liquidity and distributing resulting interest to lenders. Total APY stands at 0.01% with no additional reward layer. Over the past week, the rate has decreased by 0.38%, while over the last month it has fallen further by 0.92%. This places the current yield below the 30-day mean of 0.49%. TVL in the pool is $108K with no reported change over the past week; primary exposure stems from smart-contract risk inherent to lending protocols. Given its focus on a volatile asset like Bitcoin, liquidity depth remains crucial for managing price volatility and ensuring stable 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.

• Yield variability

  Current APY is 0.00%; 30-day mean is 0.00%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 61% confidence based on historical patterns.

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