USDe is now live on both @HyperliquidX exchange & HyperEVM 🫳🏻

HyperCore users will earn daily rewards auto airdropped on top of their USDe spot exchange balances

USDe fills the opportunity for a scalable rewarding dollar asset within the Hyperliquid exchange & ecosystem

HYENA 2025 🐕 HyperCore users will earn daily rewards based on their rolling 24-hour average USDe balances, distributed by @merkl_xyz

Users must hold at least 100 USDe on HyperCore to qualify

USDe can be acquired via HyperCore orderbook

Alternatively, USDe can also be transferred in via HyperEVM - click "EVM <> Core Transfer" on Hyperliquid's Portfolio page with an active HyperCore address

Introducing the product for a billion people:

Today we announce our partnership with @ton_blockchain to power finance's most powerful use case:

To send, save and pay with a globally accessible dollar

Internet money, now available for @Telegram's billion users

Details below: This represents one of Ethena's most meaningful launches to date

Telegram has truly global distribution across its billion users, with presence in emerging economies in regions like Asia, Africa, and Latin America

Users within these countries can now all benefit from a globally accessible dollar savings vehicle via Ethena's USDe right within their Telegram app

Let the pump into your life

USDe is now a core pairing asset on PumpSwap, the new native DEX from @pumpdotfun

https://twitter.com/1622243071806128131/status/1902762309950292010

Beyond this initial core pairing in the AMM, USDe can offer a unique revenue stream for locked LP tokens on new memecoin launches

As the altcoin market transitioned from BTC pairings to USD, we expect memecoins will eventually follow the same path with Ethena playing a key role

Introducing @convergeonchain: The settlement network for traditional finance and digital dollars, powered by @ethena_labs and @Securitize

Our vision is to provide the first purpose built settlement layer where TradFi will merge with DeFi, centered on USDe & USDtb and secured by ENA We see two core use cases for blockchains:

i) Settlement for permissionless spot and leveraged DeFi speculation

ii) Storage and settlement for stablecoins and tokenized assets

While the speculation use case has and will continue to play an important role in crypto, we see a less competitive and much larger opportunity to win the second category over the next decade

Ethena and Securitize are uniquely positioned to do so, together

We are excited to share that up to $1.1bn of direct allocation of USDe and sUSDe has been approved for integration into the @sparkdotfi Liquidity Layer

Details below on the partnership 👇🏻 Onboarding Ethena into the Spark Liquidity Layer will allow Spark to access Ethena rewards directly rather than via lending

This proposal will add Spark support for directly deploying USDC reserves into USDe and sUSDe using the Ethena Minting contract

Excited to announce @usualmoney is migrating to USDtb as collateral for their stablecoin USD0

This is the latest of many cutting-edge stablecoin protocols leveraging the composable benefits of Ethena's product set

Details below 👇 USDtb will soon become a primary collateral asset for Usual’s USD0, currently with over $850 million in TVL

Blackrock's BUIDL represents the vast majority of the USDtb backing, currently the highest BUIDL allocation of any stablecoin in the market

https://twitter.com/1637885519374721035/status/1868657723799470361

Today we are launching our new stablecoin product, USDtb, backed by @BlackRock's BUIDL Fund in partnership with @Securitize

Read below for full details👇 USDtb functions like a traditional stablecoin such as USDC or USDT, utilizing cash and cash-equivalent reserve assets to back each token

Blackrock's BUIDL represents the vast majority of the USDtb backing, currently the highest BUIDL allocation of any stablecoin in the market

Full details in the blog post:
mirror.xyz/0xF99d0E4E3435…

Ethena and @Securitize in partnership have submitted an application for USDtb to be included in @SkyEcosystem's $1b Tokenization Grand Prix using @BlackRock BUIDL as the primary reserve asset backing

USDtb is the only stablecoin offering in the market with the capability to be backed 100% by @BlackRock BUIDL and this application with Ethena is supported by @Securitize alongside their previous submission

This also includes proposal for a USDtb and USDe swap facility to be enabled with Ethena enabling frictionless reallocation between the two assets for the @SkyEcosystem as they adjust their backing to the interest rate cycle

👇 The Ethena swap facility for Sky enables maximum flexibility to react to changes in the current interest rate environment

If crypto funding increases, Sky can reduce any USDtb holdings and increase its USDe allocation with zero friction and quicker than it could allocate to and from current RWA issuers

Pleased to announce the proposal to integrate sUSDe into @aave has passed successfully 👻👻👻

sUSDe will be added as a collateral in both the main Ethereum and Lido instance, enabling billions of dollars of stablecoins to be borrowed against sUSDe

Details below: Aave proposal here:

vote.onaave.com/proposal/?prop…

We are excited to announce Ethena's newest product offering: UStb

UStb will be fully backed by @Blackrock BUIDL in partnership with @Securitize, enabling a separate fiat stablecoin product alongside USDe

Details below on why this is important: UStb will be collateralized by @BlackRock and @Securitize BUIDL and will function identically to a traditional stablecoin

This will exist as an isolated product separate from USDe offering users and exchange partners a new product with a differentiated risk profile to USDe

USDe is live on Solana as of today, August 7th

Read below for a list of our app integrations with USDe and sUSDe 👇 August 7th marks Ethena's Solana integration:

- USDe deployed on Solana thanks to @LayerZero_Labs OFT

- SOL onboarded as a backing asset for USDe, subject to governance

- Solana Sats Campaign

Introducing the Ethena reward-bearing asset proposals, with entities pitching for an allocation from Ethena's liquid cash backing

One of the early applications is from Securitize, the distributors of @BlackRock's BUIDL, for an allocation from Ethena's Reserve Fund

Details below Issuers are invited to pitch Ethena for an allocation of their RWA, or reward bearing asset

As long as the asset is USD denominated, and accrues rewards, it may be eligible for an allocation from:

i) Ethena's $45m Reserve Fund
ii) USDe's liquid cash backing of ~$250m

Today marks an important step forward in more closely aligning the growth and use of $USDe with $ENA

The launch of a generalized staking capability for $ENA with @symbioticfi and @LayerZero_Labs is the first step in adding functional utility for $ENA within the Ethena ecosystem Summary:

i) Introduction of generalized restaking modules for $ENA and $sUSDe

ii) $ENA restaking pools within @symbioticfi to secure the Ethena Chain

iii) Immediate 50% reduction of go-forward $ENA inflation for Season 1 campaign participants to support long term alignment

Excited to share one of the most important DeFi integrations for USDe adoption to date

👻 @ethena_labs x @aave 👻

Read below for details on the partnership 🤝 Users are now able to:

i) Deposit USDe and loop their position with other stablecoins on Aave

ii) Deposit stETH, weETH, ETH and WBTC on Aave to borrow stablecoins into Ethena USDe or sUSDe

vote.onaave.com/proposal/?prop…

As of today Ethena will be live on @Blast_L2 the L2 with native yield 💥

Read below for a list of our app integrations with USDe 🧵 USDe and sUSDe will be live on @ThrusterFi LP pools paired with USDB

Both pools will receive maximum Ethena allocation with 30x sats alongside Blast Gold and Thruster Credits

Users who then stake in @hyperlockfi will receive an additional 5x sats

app.thruster.finance

To date the sUSDe contract has received protocol yield attributable to assets backing staked USDe, with the protocol retaining the remainder

As of today, the retained portion is reduced to 20%, with the remainder going to the sUSDe contract

As a result sUSDe APY = 37.2% How does this work?

Currently only 15% of USDe is staked in sUSDe

If entire protocol backing generates ~7%, transferring returns from assets backing unstaked USDe to the staking contract increases effective sUSDe APY - with 20% retained, sUSDe APY rises to ~37%

Ethena 2024 Roadmap: The Holy Grail: Internet Money

https://twitter.com/1589990734601625601/status/1788857362557596066

Summary sections:

i) Why we believe Ethena is important
ii) What we are excited by: USDe convergence of DeFi, CeFi, TradFi
iii) The Ethena Endgame: Money, Network, Exchange

Based on community feedback the $ENA liquidity lock has been simplified to further align incentives for longer term participants

Users can now lock $ENA to receive a scaled sats boost up to 100% based on the amount of $ENA locked relative to USDe positions Locked $ENA will continue to receive the highest rewards at 30x

Doing so will more closely align the growth of USDe with longer term holders

mirror.xyz/0xF99d0E4E3435…

Details on Season 2: Sats Campaign 💥

Details in the following tweet: mirror.xyz/0xF99d0E4E3435…

Announcing the @ethena_labs public mainnet 🌅

Details on our "Shard Campaign" in the following tweet Our one and only landing page for the shard campaign is:



Please do not click on any links that might proceed this thread.

We will note where we finish the thread

There are only 8 steps to collect shards we have listed below:ethena.fi

1/ This week's research update thread covers CeFi vs CME market dynamics, stablecoins, liquid staking and lending markets as part of our regular research updates 🧵 2/ The spread between CeFi futures basis and CME's stayed positive since the end of October, highlighting a strong demand from institutional investors in the midst of spot ETF rumours

Tradfi paying more for their crypto exposure than CeFi