> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rampartlabs.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Euler V2

> 108 permissionless vaults on Monad - supply APR discovery via factory events

<Info>
  **TVL:** \~\$20M | **Type:** Euler V2 (108 vaults) | **Docs:** [docs.euler.finance](https://docs.euler.finance)
</Info>

## Overview

Euler V2 is a modular lending protocol that supports permissionless vault creation. On Monad, the factory has deployed 108 vaults covering a wide range of assets. Rampart discovers all vaults by iterating factory events and computes APR from the on-chain interest rate model.

<Note>
  APR is derived from the vault's `interestRate()` return value using the formula: `interestRate() / 1e27 * 31_536_000`. This gives the annualized rate as a decimal (e.g. `0.087` = 8.7%).
</Note>

## Functions

### getEulerVaults()

Returns all active Euler vaults discovered from factory events, sorted by APR descending.

**Returns** `EulerVault[]`

| Field         | Type      | Description                           |
| ------------- | --------- | ------------------------------------- |
| `address`     | `string`  | Vault contract address                |
| `asset`       | `string`  | Underlying token address              |
| `apr`         | `number`  | Annualized supply rate (e.g. `0.087`) |
| `totalSupply` | `bigint`  | Total assets supplied (raw)           |
| `totalBorrow` | `bigint`  | Total assets borrowed (raw)           |
| `utilization` | `number`  | Borrow / supply ratio (0-1)           |
| `protocol`    | `'euler'` | Protocol identifier                   |

```typescript theme={null}
const vaults = await sdk.getEulerVaults()
// → [
//   { address: '0x...', asset: '0x...', apr: 0.087, totalSupply: 1200000n, utilization: 0.71, protocol: 'euler' },
//   { address: '0x...', asset: '0x...', apr: 0.062, totalSupply: 800000n,  utilization: 0.58, protocol: 'euler' },
// ]
```

### getEulerBestSupply(asset?)

Returns the Euler vault with the highest APR. Optionally filtered to a specific underlying asset.

| Parameter | Type                | Description                        |
| --------- | ------------------- | ---------------------------------- |
| `asset`   | `string` (optional) | Filter by underlying token address |

**Returns** `EulerVault`

```typescript theme={null}
// Best vault across all assets
const best = await sdk.getEulerBestSupply()
// → { address: '0x...', asset: '0x...', apr: 0.087, protocol: 'euler' }

// Best vault for USDC specifically
const USDC = '0xf817257fed379853cDe0fa4F97AB987181B1E5Ea'
const bestUsdc = await sdk.getEulerBestSupply(USDC)
```

### getEulerTVL()

Returns total value locked across all Euler vaults in USD.

**Returns** `number`

```typescript theme={null}
const tvl = await sdk.getEulerTVL()
// → 20400000
```

## APR Formula

```typescript theme={null}
// Euler V2 interest rate is stored as a per-second rate scaled to 1e27
// To get annualized APR:
const rawRate = await publicClient.readContract({
  address: vaultAddress,
  abi: eulerVaultAbi,
  functionName: 'interestRate',
})

const apr = Number(rawRate) / 1e27 * 31_536_000
```

## Usage Example

```typescript theme={null}
import { Rampart } from 'rampart-monad'

const sdk = new Rampart()

const vaults = await sdk.getEulerVaults()

// Top 3 vaults by APR
const top3 = vaults.slice(0, 3)
for (const v of top3) {
  console.log(`Vault ${v.address}: ${(v.apr * 100).toFixed(2)}% APR, ${(v.utilization * 100).toFixed(1)}% utilized`)
}
```

## Contract Addresses

| Contract     | Address                                      |
| ------------ | -------------------------------------------- |
| EulerFactory | `0xba4dd672062de8feedb665dd4410658864483f1e` |