In this powerful episode of the DeFi Podcast, hosts Bill, JF, and Rhett sit down with Michael Bentley, CEO and Co-founder of Euler Labs, for one of the most remarkable comeback stories in crypto history.
Michael shares the deeply personal account of managing Euler’s $200 million hack in March 2023 – just days after his son’s birth. From negotiating with the hacker whilst in A&E to the psychological warfare that followed, this is an unprecedented look inside one of DeFi’s most challenging recoveries.
But this isn’t just a story of crisis management. Michael reveals how Euler V2 has revolutionised DeFi with its modular lending architecture and groundbreaking EulerSwap protocol, which achieves unprecedented capital efficiency by merging lending and DEX functionality.
Key Topics:
– Euler’s $200 million hack
– Psychological warfare with the hacker
– Keeping the team together through crisis
– Modular lending protocol architecture
– EulerSwap’s revolutionary capital efficiency
– $2B volume with under $5M TVL
– Autonomous buyback mechanisms
– Fixed-rate lending comeback
Chapters:
00:00 The Euler Finance Hack: A $200 Million Heist
01:03 Michael Bentley’s Leadership and Recovery
02:15 The Birth and Challenges of Euler Version One
08:37 The Hack: A Personal and Professional Crisis
30:50 Exploring Euler’s Unique Collateral System
35:27 Challenges and Early Growth of Euler
39:36 EulerSwap: Revolutionizing Capital Efficiency
01:00:42 Future Innovations and Institutional Focus
Follow the Pod:
@DefiPodcast
Follow the Guest:
@eulerfinance
Follow the Hosts:
@Bill_Tanyeri
@JFSaine
@RhettShipp
Disclaimer: Nothing discussed constitutes financial advice. Please consult a professional investment advisor and do your own research.
