Introducing Euclid Finance
Euclid Finance is a comprehensive and risk-minimised solution that simplifies the restaking process, offers an omnichain liquid asset (elETH) representing restaked positions, and establishes a trustless and permissionless operators network. Euclid aims to enhance the accessibility, security, and decentralization of EigenLayer while fostering a robust DeFi ecosystem.
In order to deepen the liquidity of elETH while ensuring a unified user experience, Euclid will first support native ETH staking and subsequently add various LSTs. Due to potential risks associated with LSTs, each LST will undergo a thorough due diligence process and will be incorporated only when it attains a security level deemed acceptable by Euclid.
Why Euclid
Euclid has three major features that set it apart from other protocols:
1. elETH is a risk-minimised and omnichain liquid restaking asset
elETH is a yield-bearing liquid wrapper representing the restaked position. With Euclid, users can deposit their ETH and LSTs from different networks without worrying about bridging or gas fees. Euclid’s architectural design ensures that funds through Euclid are distributed across a sufficiently decentralized network of Operators, mitigating the single point failure risk associated with participating in EigenLayer.
2. Trustless and Permissionless Operator Network
Euclid enables restakers to delegate their assets to various operators. Operators must stake ECL (Euclid’s governance token) and restake ETH/LST independently, which then serve as security deposits, ensuring the operators’ eligibility and competence in fulfilling their responsibilities. This mechanism not only protects restakers’ interests but also incentivizes operators with ECL staking rewards and commission earnings from restakers.
3. Decentralizing Restaking
Euclid is dedicated to become a fair launch protocol governed by the community and is consistently striving for decentralization. Not only do we enhance the decentralization of the operator network through mechanisms, but our tokenomics design also leans towards the community. Euclid will go live soon with a $2M FDV.
Tokenomics
Euclid will adopt a fair launch approach without any pre-sale engagement from institutions or reserved team allocation, placing a strong emphasis on the community. The tokenomics below is to incentivize a more decentralized Eigenlayer Operator Network, aiming to establish an omnichain LRT with minimized risk.
ePoints System
To incentivize early users, Euclid will implement an ePoints system for tracking participation.
- The system will reward early participants with higher ePoints earning multiplier. Users who engage earlier will receive more ePoints.
- vlEQB and ePENDLE token holders will be granted additional ePoints bonuses.
- Users accumulating ePoints will share the IDO allocation and be eligible for the airdrop program.
Euclid is set to launch soon. Stay tuned!
About Euclid
Euclid is a member protocol of NGAD, specializing in Omnichain Liquid Restake Assets, the simplest way to restake your ETH and LSTs to Eigenlayer.
