EXMO, a trading platform with over a million verified users, has joined forces with Euler, a modular lending protocol, to enhance yield opportunities for crypto traders.
Decentralized finance (DeFi) solutions are enjoying a renewed wave of interest thanks to fresh bullish signals, and a number of household players see this as an opportunity to establish new partnerships to enhance their offerings.
DeFi lending space has recently welcomed one such alliance when EXMO and Euler announced their partnership to expand yield opportunities for crypto users.
Established in 2014, EXMO is a trading platform with over a million verified users. It connects those who want to buy or sell digital assets on a spot market, facilitating swift and straightforward transactions. With a daily trading volume of around $60 million, EXMO operates with a team of 110 crypto professionals.
Euler, on the other hand, is a modular platform for decentralized lending and borrowing designed to adapt to a shifting DeFi environment. The platform streamlines lending and borrowing for everyday users by providing an accessible approach to financial opportunities. Euler’s modular architecture and institutional-grade security empower builders to create customized lending markets, enabling them to tailor risk parameters and asset usage.
Strategic alliance boosts DeFi yields
EXMO’s partnership with Euler aims to strengthen yield possibilities for EXMO users by taking advantage of Euler’s secure and capital-efficient lending protocol. Through staking over 1,000 Ether (ETH) via Euler, EXMO intends to gain better returns on its wrapped Ethereum (wETH) holdings. As part of the deal, EXMO will introduce Euler’s governance token, EUL, to its community via the Simple Trade feature and a DeFi token bundle.
With this collaboration, EXMO users will be able to tap into new DeFi products that potentially offer higher yields. On Euler’s side, having EUL included in EXMO’s ecosystem elevates its profile within the centralized exchange environment. By being listed on a platform that serves a significant user base, Euler ensures that a broader audience becomes familiar with its lending and borrowing services.
Unified approach bridges CeFi and DeFi
EXMO highlighted that the partnership’s primary goal is to narrow the gap between centralized and decentralized finance while offering optimal yield opportunities. Commenting on this joint initiative, EXMO Global CEO Mike Blank said:
“At EXMO, we believe in bringing the best DeFi opportunities to our users while ensuring top-tier security and accessibility. Partnering with Euler allows us to enhance our Earn offerings while introducing more people to decentralized finance in a seamless way.”
By joining forces with Euler, EXMO continues its “long-term strategy of incorporating reliable, audited DeFi protocols.” According to EXMO, Euler’s strong security track record and competitive rates align with the trading platform’s vision of creating straightforward ways for users to benefit from DeFi.
The full timeline of Euler v2 audits.
— Euler Labs🛢️🇬🇧 (@eulerfinance) August 1, 2024
Altogether, we conducted 26 audits and we've worked with +13 security firms. pic.twitter.com/HMgaVCsVB1
Through the Euler partnership, EXMO remains committed to building an ecosystem where individuals can explore DeFi with confidence, assured that each step has been designed with efficiency and safety in mind. Such collaborations can pave the way to broader participation in DeFi, opening new possibilities for a more inclusive and resilient financial future.
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