News
Season 2: The Sats Campaign April 2nd marks one of the biggest days in Ethena’s recent history. Not just because of the ENA airdrop, but also because it marks the beginning of the second Ethena campaign. “Shards” have been replaced with “Sats” in this campaign to coincide with one
The Holy Grail: Internet Money April 1st marks the end of the Ethena Shard Campaign, which ran for a duration of just 6 weeks in total - one of the industry’s shortest pre-token campaigns yet. USDe supply grew to over $1.3bn today. This represents the fastest USD-denominated
News
Recap As USDe supply approaches $900m, we wanted to provide the community with the latest update to the Shard Campaign. As a reminder, in last week’s update we outlined a reduction in shards effective today, Monday 11th March. Those reductions only effect: * Curve LP positions reduction of shard multiplier
News
Recap USDe supply is approaching $800m, up nearly $200m since Friday. Pendle’s 200m USDe cap is now full and there is over 100m USDe locked in Curve. Update Ethena’s newest pool is now live on Pendle, this time using sUSDe with 5x shards per day. This pool will
News
USDe supply crossed $600m this morning, only 2 weeks after our public launch. Ethena’s Shard Campaign is currently in its second epoch, after the first filled out in less than a week, bringing over $100m of liquidity to Curve. sUSDe is yielding 33% and USDe-USDT is the 4th
Transparency
sUSDe distributions were completed today equating to a 33.26% APY which mirrored the APY generated by all protocol backing assets of 33.26% APY. For absolute clarity: every dollar of value accrued to the Protocol from the assets backing the staked USDe were transferred in full to the sUSDe
News
As of February 26th 8am ET, Ethena’s Epoch 2 of the “Shard Campaign” will be live. Epoch 1 Recap: Just one week ago we launched Epoch 1. The first epoch was focused on users providing liquidity into Curve’s USDe pools, as well as buying and holding USDe. In
News
Summary: i) We have taken onboard the community feedback and have retrospectively increased the sUSDe payout to include the full yield that was generated by sUSDe collateral backing, or in other words, all of the yield generated by sUSDe collateral was paid in full to sUSDe holders. ii) We have
News
Intro As of February 19th, Ethena’s Shard campaign will be live, marking USDe’s official launch to the public. Shards will represent and track how much a user has contributed to Ethena’s ecosystem over the course of the campaign. We acknowledge general market sentiment has shifted with fatigue
Case Studies
Intro This past bear market gave participants in crypto markets an important lesson in counterparty risk. We saw the collapse of some of the biggest lenders, market makers and exchanges in the space during 2022, sucking a vast amount of liquidity from trading venues which affected every corner of the
Research
{Introduction}: This piece builds upon the essay by Colin Myers and Mara Schmiedt: “The Internet Bond” published in 2020, discussing how Proof of Stake ETH would enable a bond-like instrument for the decentralized economy. To summarize their thinking behind Proof of Stake ETH as the Internet Bond: * Similar to
News
// Ethena Labs: Enabling the Internet Bond_ Ethena Labs is a decentralized stablecoin protocol built on Ethereum that will provide a crypto-native solution for money, not reliant on traditional banking system infrastructure, alongside a globally accessible and permissionless dollar denominated savings instrument - the 'Internet Bond'. {Introduction}: Ethena Labs