The Ethereum Vault Connector, or EVC, is account infrastructure for ERC-4626 vaults.

It lets selected vaults recognize one another as collateral, coordinate account checks, delegate scoped permissions, and batch multiple actions into one execution path.

EVC is one of the core primitives behind Euler V2. The Euler Vault Kit creates configurable lending vaults. EVC defines how selected vaults and accounts can interact.

Why EVC Exists

Lending markets often need more than one isolated vault.

A user may supply collateral in one vault and borrow from another. A product may need to move through several actions in one flow: supply, borrow, repay, withdraw, rebalance, or liquidate. A builder may need sub-accounts, operators, or custom execution logic without rebuilding account infrastructure from scratch.

EVC provides that coordination layer.

It does not define a market’s risk model, pricing, collateral rules, oracle configuration, or governance path. Those choices stay with the vaults and products built around it.

What EVC Does

EVC gives vaults and applications a shared account layer.

Collateral Relationships

Vaults can recognize deposits in selected connected vaults as collateral.

This lets builders create markets where one vault’s deposits can support borrowing in another vault, without forcing every vault into one shared risk environment.

Sub-Accounts

Users and applications can separate positions across different accounts.

A user might keep one position isolated from another. An application might separate strategies, markets, or workflows into different sub-accounts.

Operators

Accounts can delegate specific execution rights to approved operators.

This lets applications, automation systems, or agents act within defined permissions without receiving broad wallet control.

Batching

Multiple actions across vaults and external contracts can be executed in one transaction path.

For example, a user or application may supply, borrow, repay, withdraw, or rebalance across several vaults as part of one coordinated flow.

Account Status Checks

Vaults can use EVC to coordinate whether an account remains valid after a set of actions.

This means account checks can happen across the relevant vault relationships instead of being limited to a single isolated contract call.

What EVC Makes Possible

EVC makes Euler vaults composable.

Builders can create credit products that connect selected vaults.
Curators can define which vaults recognize one another as collateral.
Integrators can build user flows across supply, borrow, repay, collateral, and liquidation actions.

Agents can execute scoped lending workflows through operators, sub-accounts, batching, and account checks.

This supports a wide range of products, including isolated markets, cross-collateralized markets, escrowed collateral, institutional lending markets, embedded borrowing flows, automated position management, and agent-driven lending workflows.

EVC and Risk Isolation

EVC does not automatically connect every market.

A vault only recognizes another vault as collateral when that relationship is explicitly configured. This lets Euler markets compose where useful while keeping exposure scoped to the selected vaults and account relationships.

That is the key design choice.

EVC gives Euler composability without requiring one shared risk pool.

EVC and Euler V2

EVC works alongside the Euler Vault Kit.

EVK creates the lending vault.
EVC coordinates the account layer.
Hooks and external logic can add product-specific checks where needed.

Together, these primitives form Euler V2’s modular lending architecture: vaults define market rules, and EVC defines how selected vaults and accounts interact.

The Short Version

EVC is the account and collateral coordination layer for Euler V2.

It lets ERC-4626 vaults connect through explicit collateral relationships, while supporting sub-accounts, scoped operators, batching, and account checks.

EVC is what lets Euler markets compose without forcing every vault into the same risk model.