Euler was a promising project, great team, and even a great product (outside of the donateToReserves exploit), and I fully hope they come back bigger and stronger than ever… Which i believe they will relaunch and should.
For those who used Euler, are you looking to safer alternatives like Silo since they isolate each asset into their own respective pools to avoid oracle exploits?
Of course Aave, Comp, etc. and I like the new Aave v3 concepts which may have been Euler concepts to begin with. I also am unsure of the new Compound system just yet
Personally, I have not used Silo but they just launched their rewards program which usually creates a pump of sorts which we haven’t seen just yet. For those who have, are you bullish on the isolated pools concept?
It’s been tried and failed many times before since it requires unpredictable asset management on debt positioning (amongst many issues, but purely opinion based?). I do think Silo is doing it right from the previous attempts so I hope they can find market fit in the niche category
3 thoughts on “With a Euler hack, what options are you using?”
The two pronged risk test for defi is: time and tvl.
Euler had not been around long, so I viewed it as risky and did not use it.
Aave has been around much longer and has very high tvl, ergo lower risk profile.
I avoid them all because I don’t like losing money. Lol. Really that simple.
Euler was fairly new and not as established/reputable as Aave, Uniswap, Comp, etc. I get the appeal of lending/borrowing isolated assets, but the risk is very high and the code (and economics) required to pull something like that off securely is clearly not easy.
Imo if you want to lend or borrow just stick to the reputable platforms that have been time tested.
Getting extra APY rewards or whatever isn’t worth it when you’re at risk of losing 100% of your money.
Before I get my hands on the money markets, lending and borrowing systems.. I wait for Kujira Ghost to release. This team is pretty unknown and undervalued by the big crowd, but their set of products are incredibly solid and of very high quality. So Ghost is going to be the Money Market dApp that they’re building and expectations are high.
Before that, I rather not make my life too complicated with all sorts of services and dApps spread around different ecosystems.