Euler v2 (Linea)
Takes as collateral: ether
A deployment of Euler v2 that takes ether only, beside the 8 that take bitcoin: Arbitrum, Avalanche, Base, BSC, Ethereum, Hyperliquid L1, Monad, Unichain
What the ether is: 93.7% ether itself (ETH, WETH) · 6.3% staking tokens (wstETH, rETH, cbETH…) · 0.0% restaking tokens (weETH, ezETH…). Staking tokens count at their own contract rate; the market price is published beside it.
Collateral: the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan.
Credit secured by ether is never added to credit secured by bitcoin. An account holding both is shown as a bound in each view and added to neither.
10 of 10 criteria researched. What the criteria are →
Listed, not researched in full. This venue is read only through an aggregator, and its 30-day book peaked at $0 over the last 90 days, under the $5m research floor. Its rate and book are published as for any venue; its criteria are not researched. What the floor is →
Markets — as served, not a venue rate
One row per market, as the venue publishes them. These are market rates: combining them into a single venue rate is a weighting across this venue's markets, and choosing one here would be a methodology decision taken in a web page.
No BTC market rows are served for this venue. It runs contracts, so the absence is this dataset’s, not the venue’s.
Price
What does credit cost here, and how is the price formed?
| Rate formation | algorithmic_utilisationsourceEuler v2 on Linea (chain 59144) — each vault names an interestRateModel() evaluated on its cash and borrows: a function of utilisation, algorithmic_utilisation. The curve each model implements was not read, and a governor can replace the model. |
|---|---|
| Term structure | open_endedsourceEuler v2 vaults on Linea (chain 59144) — borrow()/repay() carry no maturity; a position persists until repaid or liquidated. |
| Rate certainty | variablesourceEuler v2 vaults on Linea (chain 59144) — each vault accrues at the rate its interestRateModel() returns for the vault's cash and borrows (5 distinct model contract(s) among vaults with debt, read 2026-09-30); nothing is fixed at origination. No vault with $1,000 or more of debt is fully drawn. |
Quality
What stands behind a position, and what can change under the reader?
| Oracle dependency | multiplesourceEuler v2 on Linea (chain 59144), vault factory 0x84711986Fd3BF0bFe4a8e6d7f4E22E67f7f27F04 — every vault names its own oracle() and unitOfAccount(). Read 2026-09-30: 9 vaults carry debt and name 3 distinct oracle contract(s). There is no venue-wide oracle; a borrower depends on the one its borrowing vault names, which prices every collateral vault that vault accepts. |
|---|---|
| Default & liquidation | thresholdsourceEuler v2 on Linea (chain 59144) (EVC 0xd8CeCEe9A04eA3d941a959F68fb4486f23271d09) — an account can be liquidated once its liability exceeds its collateral valued at each collateral vault's LTVLiquidation(collateral), a per-vault, per-collateral threshold set by that vault's governor (3 distinct governor(s) among vaults with debt, 0 vault(s) with none, read 2026-09-30). |
| Custody & backing | protocol_custodialsourceEuler v2 on Linea (chain 59144), vault factory 0x84711986Fd3BF0bFe4a8e6d7f4E22E67f7f27F04 — each vault contract holds its own asset; a depositor holds the vault's shares, and pledges them as collateral through the EVC 0xd8CeCEe9A04eA3d941a959F68fb4486f23271d09. |
| Recourse | non_recoursesourceEuler v2 on Linea (chain 59144) — liability is bounded by the collateral vault shares an account has pledged; no function pursues a borrower beyond them. Debt left after a liquidation can be socialised across the lending vault's depositors; whether a given vault has that turned off is a per-vault setting and was not read. |
| Track record | 12 months observedsourceDerived from the first aggregator observation this dataset holds for the venue (defi_rates_llama, 2025-09-16; the registry holds no first_date for it). This is a LOWER BOUND on the venue's age, not the age itself: a venue trading long before the aggregator began listing it reads short here. The observer is the aggregator, not the venue's own contracts. Not typed, and not a claim about the venue's longevity. |
Composition
Who and what makes up this market?
| Collateral accepted | BTC vaults (0): nonesourceEuler v2 on Linea (chain 59144), vault factory 0x84711986Fd3BF0bFe4a8e6d7f4E22E67f7f27F04 — getProxyListSlice(), then asset(), cash(), totalBorrows() and LTVList() per vault (registry/resolution/2026-09/euler.json). ⚠ NOT A POOL: one vault per asset, each accepting other vaults' shares as collateral at its own LTV. 88 vaults from the factory, 9 carrying debt, read 2026-09-30. No bitcoin vault holds 0.01 BTC or more. No dollar vault with $1,000 or more of debt grants an LTV to a bitcoin vault. No vault with $1,000 or more of debt is fully drawn. |
|---|---|
| Book depth & concentration | unknown (no per-venue counterparty count exists in this registry or in the comparison payload, so depth and concentration cannot be established. This is a gap in THIS DATASET, not in the venue, and is a different value from `undisclosed`, which would mean the venue does not publish it.) |
| Observability | price: partial — Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01. quantity: partial — Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01. composition: none — Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue. |
What the loans are denominated in
Not yet established for this venue — which is not the same as dollars.
Backing chain
Each link from what this venue takes as collateral down to the bitcoin it rests on, in order, with how each link was established.
How a chain is read, and what it does not claim
backing_chain: the ordered claims standing between a creditor and the coins, each link derived from a sourced fact already held and carrying it in `derived_from` — the custody cell, the venue's borrow card, or wrapper_registry.yaml for who holds the bitcoin behind a token. A `representation` link has one branch per token the venue takes; branches are alternatives, not a sequence. A link nobody has established is shown with status `incomplete` and names what is missing — it is never dropped, because a missing link omitted makes a long chain look short. `undisclosed` means the party does not publish it; `incomplete` means this dataset has not established it. NEVER SCORED AND NEVER COUNTED: no length, link count or ranking is published, and none should be derived — chain length and link transparency are orthogonal (ETP-backed margin is the longest chain here and every link of it is regulated). `recourse` is what the creditor holds beyond the chain. ⚠ Tokens are identified BY SYMBOL: the wrapper registry is not keyed by chain or address, so every `representation` link carries a `deployment` step that is incomplete — whether a token is native to the chain of the venue or a bridge receipt (one more link) is not established — and a symbol the registry knows to name a different token on a venue is shown unresolved, not given that wrapper's holders.
- contract_escrow established — the protocol contract — the collateral is escrowed and neither the operator nor the borrower can move it
source
attribute · custody_model = protocol_custodialEuler v2 on Linea (chain 59144), vault factory 0x84711986Fd3BF0bFe4a8e6d7f4E22E67f7f27F04 — each vault contract holds its own asset; a depositor holds the vault's shares, and pledges them as collateral through the EVC 0xd8CeCEe9A04eA3d941a959F68fb4486f23271d09. - representation incompleteno curated BTC representation is held for this venue (markets / metadata / collateral_asset)
source
The generic axis set
Identical for every venue, identically computed. An axis that cannot be computed here renders its reason — never silently omitted, because an omitted axis says it was not considered. A figure that covers only part of what the axis asks is marked, with what it leaves out beneath it. Collateral, debt and the borrow and lend rates are the tiles at the top of this page.
| Utilisation (venue roll-up) | unknown (this venue has no market rows in the rates payload yet) |
|---|---|
| Intermediation margin | unknown (this venue has no market rows in the rates payload yet) |
| Trailing realised average (7/30/90d) | unknown (no per-venue time series is held, so a trailing figure would be a single reading dressed as an average) |
| Rate volatility (30/90d) | unknown (no per-venue time series is held, so a trailing figure would be a single reading dressed as an average) |
| Spread to the pair aggregate | unknown (this venue has no market rows in the rates payload yet) |
| Spread to matched Treasuries | unknown (this venue has no market rows in the rates payload yet) |
| Origination flow | unknown (needs loan-level history, which is held for Morpho Blue only) |
| Repayment flow | unknown (needs loan-level history, which is held for Morpho Blue only) |
| Aggregate and distributional LTV | unknown (needs loan-level history, which is held for Morpho Blue only) |
| Residence distribution | unknown (needs loan-level history, which is held for Morpho Blue only) |
| Liquidation incidence | unknown (needs loan-level history, which is held for Morpho Blue only) |
| Top-10 concentration share | unknown (needs loan-level history, which is held for Morpho Blue only) |
There is no score on this page and none will be added. The criteria are published and versioned before any venue is measured against them, and this venue's row is produced by the same pipeline as every other.
Access routes
Unknown (not surveyed yet). No one has looked for an MCP server for this venue. That is not the same as having looked and found none, and this row will not say the second while meaning the first. The listing criteria are published.
Ask for this by machine
| REST | GET https://api.bitcoincreditstack.com/v1/market/venues/euler_v2_linea |
|---|---|
| MCP | get_venue({ venue_id: "euler_v2_linea", collateral: "eth" }) |
The same figures, the same names and dates. Connect your AI →
How this venue compares depends on what you'd borrow, for how long, against what. That's a question for your AI, with this data behind it.
https://mcp.bitcoincreditstack.com/mcp