DeFi protocol Euler Finance goes live on Sonic

Euler Finance, a decentralized finance platform on the Ethereum blockchain, is now live on Sonic, formerly known as Fantom.

Sonic Labs announced the integration on Feb. 17, stating that the launch will further enhance DeFi growth within the Sonic ecosystem. Euler Labs’ expansion aims to bring advanced lending capabilities to the Sonic blockchain network.

This integration comes just days after DeFi protocol Frax Finance went live on Sonic, offering new opportunities for users. Sonic’s price has surged amid these developments, reaching highs of $0.60 with more than 38% gains over the past seven days at the time of writing.

Euler’s integration with Sonic will offer features such as looping strategies, near-zero gas fees, and high-speed execution. By going live on Sonic, users can lend, borrow, and loop major assets on the platform, including liquid-staked token stS, wrapped Sonic wS, and $USDC.e, a bridged $USDC token

Having bounced from a damaging $197 million exploit with the launch of its Euler v2, the lending protocol is among top gainers by total value locked in recent months.

In the market, Euler competitors include Aave, Morpho, Compound and Avalon Finance. Despite this, the DeFi protocol’s TVL has grown from lows of $16 million on November 5, 2025 to over $356 million.

A key driver of this growth has been the platform’s introduction of vault lending capabilities with v2 and the launch of rEUL, a 1:1 token representing the locked version of EUL, introduced in November 2024. rEUL enables reward distribution within the Euler ecosystem.

According to Euler Labs, users can earn from $100,000 in rEUL incentives, with MEV Capital and Re7 as market curators.