Euler Finance's new yield product, EulerEarn, has reached $21.69 million in total deposits since its recent launch. The product has seen a remarkable growth rate, attracting approximately $1 million in new deposits every hour.

This rapid uptake highlights a significant demand within the DeFi market for user-friendly, passive yield generation products. EulerEarn is designed to simplify the process for users, allowing them to deposit USDC and earn returns without actively managing complex strategies. The product is built on Euler's underlying infrastructure, which uses modular lending vaults to create tailored financial products.

The strong performance of EulerEarn points to a broader trend of simplifying DeFi for wider adoption. As users seek easier ways to participate in the crypto economy, products that offer straightforward "deposit and earn" functionality for major stablecoins like USDC are proving to be highly successful.