DeFi Lending Protocol Euler Closes $8M Series A Round Led By Paradigm
25.8.2021 19:14:00 EEST | Business Wire | Press release
The developers of Euler, the first lending protocol that allows users to create their own lending markets in a permissionless fashion, announced today that they have completed an $8 million Series A round led by Paradigm. The new funding will help to grow the Euler developer team in anticipation of the protocol’s launch later this year and provide support to help integrate the protocol into the wider DeFi ecosystem.
“The long tail of DeFi assets is enormous and underserved by existing lending protocols,” said Charlie Noyes, investment partner at Paradigm. “The Euler team is creating something that meets the need in a novel, scalable way, and we're excited to support the development.”
Lead seed round investor Lemniscap joined the round, which also included other leading angel investors such as Anthony Sassano from The Daily Gwei, Ryan Sean Adams from Bankless, Kain Warwick from Synthetix and Hasu from Uncommon Core.
Michael Bentley, co-founder of Euler said that the protocol had been, “Custom-built to support permissionless listing of almost any crypto asset, without governance limiting what people can lend or borrow.”
“A lot of research and development time has gone into figuring out how to allow users to lend and borrow almost any crypto asset in a capital-efficient way, whilst limiting the risks that some of these more volatile assets sometimes pose. Euler is purpose-built for people and organizations looking for long-term storage and yield opportunities.” added the co-founder of Euler.
Euler was incubated by Encode Club, a worldwide community of blockchain developers primarily associated with universities. It was at an Encode hackathon last summer that Bentley, himself a former postdoctoral researcher at the University of Oxford, met his co-founders, Jack Prior and Doug Hoyte.
The team’s goal is now to launch the protocol by the end of the year, integrate the protocol into the wider DeFi ecosystem, and start on the path to handing control of the protocol over to a decentralized community of custodians.
About Euler
Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party. Euler features a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans and much more. For more information, visit euler.finance.
About Paradigm
Founded in 2018, Paradigm is a leading crypto-focused investment firm based in San Francisco. The firm invests in crypto assets and businesses from the earliest stages of idea formation through maturity. Paradigm is driven by the conviction that crypto has the potential to bring greater freedom, autonomy, and economic benefit to people around the world, and supports that belief through investments in founders and projects that move the crypto ecosystem forward. For more information, visit paradigm.xyz.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005642/en/
Contact information
Bella Szabo
bella@euler.xyz
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla Celebrates International Women’s Day by Spotlighting Women in Games and Advancing Its Vision for Female Leadership8.3.2026 15:00:00 EET | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today reaffirmed its ongoing commitment to supporting women across the global gaming ecosystem through curated community initiatives, industry events, and thought leadership platforms in key growth markets, including Türkiye, Dubai, and Cyprus. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260308595758/en/ Graphic: Xsolla As the gaming industry continues to expand across emerging and high-growth markets, Xsolla is focused on empowering developers globally, including fostering a more inclusive ecosystem that gives women founders, studio leaders, publishers, and entrepreneurs greater access to visibility, networks, and opportunities. Through a series of targeted industry gatherings and community-led discussions, Xsolla has actively supported conversations around women in leadership in gaming. Most recently, in Dubai, Xso
Xsolla Celebrates International Women’s Day by Spotlighting Women in Games and Advancing Its Vision for Female Leadership8.3.2026 15:00:00 EET | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today reaffirmed its ongoing commitment to supporting women across the global gaming ecosystem through curated community initiatives, industry events, and thought leadership platforms in key growth markets, including Türkiye, Dubai, and Cyprus. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260308595758/en/ Graphic: Xsolla As the gaming industry continues to expand across emerging and high-growth markets, Xsolla is focused on empowering developers globally, including fostering a more inclusive ecosystem that gives women founders, studio leaders, publishers, and entrepreneurs greater access to visibility, networks, and opportunities. Through a series of targeted industry gatherings and community-led discussions, Xsolla has actively supported conversations around women in leadership in gaming. Most recently, in Dubai, Xso
Aqara Showcases Scaling Professional-Grade Infrastructure and Unified Management at Light + Building 20268.3.2026 10:00:00 EET | Press release
Aqara, a global leader and pioneer in IoT, today unveiled its cutting-edge innovations in intelligent space technology at Light + Building 2026 (Hall 9.0, Booth A50). Aqara’s demonstration offers a glimpse into a comprehensive system that offers intelligent lighting control, energy saving, and space security experience for professional usage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260308903989/en/ Aqara Showcases Scaling Professional-Grade Infrastructure and Unified Management at Light + Building 2026 System-level Intelligent Control Aqara introduces a centralized system solution designed to streamline the management of building deployments at any scale. Moving beyond individual device control, Aqara offers a unified solution that provides architects, facility managers, and developers with a single interface to oversee lighting, environmental sensing, and energy consumption across entire floors or multiple properties
AI Meets Traditional Culture: Huangshan Captures Widespread Attention at ITB Berlin7.3.2026 11:22:00 EET | Press release
Huangshan, one of China’s most iconic scenic destinations, drew significant attention at this year’s ITB by presenting a compelling fusion of traditional Chinese culture and cutting-edge artificial intelligence under the slogan “The world of Huangshan is for the world.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260307909978/en/ International visitor admires Huangshan cultural and creative exhibits at the Huangshan stand during ITB Berlin. Located in eastern China’s Anhui Province, Huangshan is famed for its “Five Natural Wonders” — fantastic pines, grotesque rocks, sea of clouds, hot spring and winter snow. The mountain is widely regarded as one of China’s greatest mountain landscapes. It is also a rare natural heritage site that simultaneously holds multiple international designations, including UNESCO World Cultural and Natural Heritage status, a UNESCO Global Geopark and a World Biosphere Reserve. At ITB, the Huangsh
Incyte Announces the European Commission Approval of Zynyz ® (retifanlimab) for the First-Line Treatment of Advanced Squamous Cell Carcinoma of the Anal Canal (SCAC)6.3.2026 23:42:00 EET | Press release
Incyte (Nasdaq:INCY) today announced that the European Commission (EC) has approved Zynyz® (retifanlimab) in combination with carboplatin and paclitaxel (platinum-based chemotherapy) for the first-line treatment of adult patients with metastatic or with inoperable locally recurrent squamous cell carcinoma of the anal canal (SCAC). “The EC approval of Zynyz marks an important step forward for patients with advanced SCAC, a rare cancer for which meaningful treatment advances have not occurred in several decades,” said Bill Meury, President and Chief Executive Officer, Incyte. “As the first PD-1 immunotherapy approved in Europe in combination with platinum-based chemotherapy in the first-line setting, Zynyz helps expand the standard-of-care options available to clinicians and underscores our commitment to delivering innovative medicines that can have an impact for patients.” The EC decision follows the January 2026 positive opinion received from the European Medicines Agency’s Committee f
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom