About this explorer
The Rails Euler V2 explorer shows a wallet's Euler accounts on Arbitrum: each loan with its collateral and health score, and each deposit, with what the vault paid or charged over the last 30 days.
How it works
- A depositor puts an asset into a vault and receives shares. Each share redeems for more of the asset as borrowers pay interest.
- A borrower enables vaults as collateral on one of its accounts, then borrows from another vault, which becomes the account's controller. The connector keeps both lists.
- The controller values the collateral and the debt in its unit of account. When the collateral counted at each vault's liquidation LTV reaches or falls below the debt, the loan can be liquidated.
- Rails shows dollars where a vault's unit of account is US dollars, and the unit's token otherwise.
How Rails reads it
- Ethereum Vault Connector 0x6302…1066: each account's collateral vaults and the vault it borrows from, for all 256 of a wallet's accounts; and an account's owner.
- Vault factory 0x78Df…0D50: the list of every vault it deployed (193 on 10 Nov 2026), and whether a vault is one of them.
- Each vault: an account's shares and debt, what shares redeem for, its interest index and rate, its totals, its unit of account and oracle, and its borrow and liquidation LTVs for each collateral; and the wallet's shares on account 0, for every vault.
- Each oracle router: the price of the vault's asset, and of each collateral, in the vault's unit of account.
- Each token: its symbol and decimals.
Rails indexes every vault's and the connector's events on Arbitrum from Euler's deployment. A wallet's deposits on all 256 accounts come from that index, and each is read again at the block current when you open a page, and at a block 30 days back. A past block's answers are stored once that block is final.
Glossary
- Vault
- : An Euler vault holds one asset. Depositors receive shares that redeem for more of the asset as borrowers pay interest, and borrowers take the asset against collateral in other vaults. Docs: Euler documentation
- Ethereum Vault Connector
- : The Ethereum Vault Connector (EVC) records, for each account, the vaults it has enabled as collateral and the vault it borrows from. Docs: Euler documentation
- Account
- : Each wallet has 256 accounts. Account 0 is the wallet's address; each other account is the address with its last byte changed. Each account's loan and collateral stand apart from the others'. Docs: Euler documentation
- Controller
- : The vault an account borrows from. While the account owes it, it decides whether the account may move its collateral. Docs: Euler documentation
- Unit of account
- : The unit a vault prices its loan and collateral in, through its oracle router. Many vaults use US dollars; some use a token such as WETH. Docs: Euler documentation
- Borrow LTV
- : The share of a collateral's value a vault counts toward new borrowing. Docs: Euler documentation
- Liquidation LTV
- : The share of a collateral's value a vault counts toward a loan before it can be liquidated. A loan's health score is the collateral counted this way over the debt. Docs: Euler documentation
A wallet's accounts
Enter a wallet address or ENS name on the front door to see that wallet's Euler accounts on Arbitrum.
- Every account that borrows, or has a deposit enabled as collateral, is found on all 256 accounts.
- A deposit not used as collateral is found on every account, from Rails's index of Euler on Arbitrum.
- Each row names what the account supplies or borrows, in which vault, and opens that holding's page.
Holding page
A deposit's page shows what its shares redeem for, what the share price added over the last 30 days, and the loan it backs. A loan's page shows the debt, the collateral's value, the loan's health score and the interest over the last 30 days, with each collateral on a row. Under the card, the vault's totals, its utilization and rates, and its oracle's price.
Press a figure's label to read what it means. The (i) under a section says what its figures mean for the wallet. A section's ⋮ menu traces each figure to the chain.
EulerEarn, EulerSwap and Euler's rewards aren't covered here.See what Rails covers on each Arbitrum explorer
Official documentation: Euler documentation