Euler V2 · Monad

WETH (EVK Vault eWETH-2)

Overview

The Euler V2 WETH pool on Monad is a single-asset lending position where suppliers earn variable interest on Ether deposits. The protocol generates yield by routing borrowing demand against pooled WETH liquidity and distributing the resulting interest spread to lenders. This pool stands as one of several venues for WETH lending on Monad.

Total APY comes in at 2.16%, with no additional reward layer. Over the past week, the trend has declined by 2.63% and over the last month it is down 2.37%, placing the current rate below the 30-day mean of 4.59%. This indicates a pattern of mildly compressing borrower demand.

TVL currently sits at $36K with a 7-day decline of 2.63%, reflecting modest outflows relative to its size. The primary risk for this pool is smart-contract exposure, as it does not involve IL or depeg risks due to the single-asset nature and non-stablecoin status. Utilisation on this lending pool remains within typical ranges for the protocol category, maintaining supply-side rate responsiveness to borrower flow dynamics.

Composed 2026-05-22 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 3.46%; 30-day mean is 7.91%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 84% confidence based on historical patterns.

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