Degradative evidence is presented that the antifungal antibiotic eulicin (C₂₆H₄₂O₂N₈) possesses the structure I. Recent communications from these laboratories recorded the isolation of the antifungal agent eulicin, produced by a species of Streptomyces, the results of efficacy and toxicity studies and some preliminary chemical characterization. We wish to report here further work on the chemistry of eulicin which has culminated in the proposal of structure I for this antibiotic.