Euler Protocol Faces Scrutiny After xUSD Depeg Raises Concerns

Recent events involving the depegging of xUSD have sparked concerns about Euler, a crypto lending platform. There are suspicions that the protocol’s oracle may not have swiftly reflected updated price information, potentially contributing to liquidity issues and potential bad debt. Reports suggest that USDT vaults saw utilization rates reach 100%, accompanied by an impressive annual percentage yield (APY) of 65%.