Key Takeaways:
- Euler Finance (EUL), a decentralized lending protocol, is now live on the Binance Wallet.
- After Euler Finance opened for trade on Binance Wallet, the airdrop portal on Binance Alpha opened on October 10, 13:00 (UTC).
- Binance Alpha is hosting an exclusive airdrop for eligible users holding 200 Binance Alpha Points to claim 5 $EUL tokens.
On October 10, Euler Finance (EUL), a decentralized, permissionless Ethereum-based lending protocol, was launched on the Binance Wallet. Along with the launch, Binance announced an exclusive Euler Finance airdrop campaign on the Alpha platform.
Eligible users holding 200 Binance Alpha points can claim 5 $EUL tokens on a first-come, first-served basis. In this article, we will explain how you can participate in the Euler Finance Alpha airdrop, how to claim $EUL, and how the project works.
Euler Finance (EUL) Airdrop Details
- Project Name: Euler Finance
- Token Ticker: $EUL
- EUL Price: $9.7690
- Airdrop Duration: October 10, 13:00 (UTC) – October 11, 13:00 (UTC)
- Airdrop Reward: 5 $EUL
- Platform: Binance Alpha
- Eligibility Requirements: 200 Alpha Points (APs)
How To Participate in the $EUL Airdrop Campaign
On October 10, 12:30 (UTC), Binance Wallet began trading Euler Finance. The airdrop portal for $EUL was opened at 13:00, allowing eligible users holding 200 APs to begin applying for the airdrop.
To participate in the Euler Finance airdrop, log in to your Binance Wallet and open Alpha. Locate Euler Finance in the Airdrop section of the Binance Alpha Event page.
If you hold 200 APs, you can click Claim, and a claim cost of 15 Alpha Points will be deducted from your account. 5 $EUL tokens will be credited directly to your Binance Alpha account.
Binance announced that only limit orders are supported during the first two hours of the event. If you do not claim your allocated tokens in 24 hours, it will be considered that you forfeited your claim to the airdrop.
Please note that the Euler Finance Airdrop (EUL) airdrop will be distributed on a first-come, first-served basis until the airdrop pool is fully distributed or the airdrop event expires. So be sure to be among the first users to apply. You can also participate in the upcoming Coral Finance (CORL) Airdrop using these guidelines.
About Euler Finance (EUL)
Euler Finance is a DeFi protocol that offers lending, borrowing, and credit markets in a flexible, modular way. It is designed to let users lend assets to earn yield, borrow against collateral, and build customized lending markets. Its design emphasizes permissionless listing of assets, risk isolation, interest rate dynamics, and composability.
Its current version, Euler v2, allows users to deploy vaults using the Euler Vault Kit (EVK). These vaults are smart contracts that hold user deposits (lenders) or collateral (borrowers). Each vault has customizable parameters like collateral type, risk level, interest rates, etc. Euler groups assets into tiers to help users manage risk.
Euler also has a feature called EulerSwap, which integrates swap (DEX-style) functionality with the lending markets. Liquidity supplied in vaults doesn’t just sit idly: it can be used simultaneously for swaps by traders, act as collateral, and earn interest.
In 2023, Euler Finance suffered a $200 million exploit, after which Euler implemented the V2 modular architecture to boost security, flexibility, and governance. Its launch on the Binance platform is a step in the right direction as the permissionless lending protocol aims to make a comeback.
