Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Arbra Launches Tokenized Tech Investment via Colb

02/07/2025

Polymarket Prediction Maintains a Bullish Outlook for Ethereum July Price

02/07/2025

What Happens to USDC Reserves If Circle Goes Bankrupt?

02/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Major Bitcoin Omega Tweet Published by Samson Mow as Bitcoin Surpasses $105,000

    02/07/2025

    Elon Musk Brings Up Bitcoin 1st Time in 3 Years – ‘Buckle Up,’ Influencer Says

    02/07/2025

    Hong Kong’s Reitar and VivoPower

    02/07/2025

    Will BTC Break Out Above $106K or Face Resistance Again?

    01/07/2025

    Polymarket Prediction Maintains a Bullish Outlook for Ethereum July Price

    02/07/2025

    ETH faces heavy volume wall range, rotation likley

    02/07/2025

    Ethereum (ETH) Price Prediction For July 2025

    02/07/2025

    Ethereum (ETH) Whales Making Extremely Bearish Moves

    01/07/2025

    IOTA Joins Government Strategies in Peru, Kenya, and the UK—Here’s Why

    02/07/2025

    Major TradFi Institutions to Pursue Tokenization Efforts on Solana

    02/07/2025

    Sonic SVM Announces Validator Program: Details

    02/07/2025

    Ripple Sees Abnormal 101% Spike in USD Stablecoin Volume, What’s Going On?

    01/07/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Donald Trump Made His New Move Concerning Memecoin TRUMP!

    01/07/2025

    Hela Labs Partners Arcane Vault to Redefine Multi-Chain NFT Network

    30/06/2025

    CryptoPunk and Azuki Lead Pack of Top NFT Sales in June 2025

    30/06/2025

    Arbra Launches Tokenized Tech Investment via Colb

    02/07/2025

    Polymarket Prediction Maintains a Bullish Outlook for Ethereum July Price

    02/07/2025

    What Happens to USDC Reserves If Circle Goes Bankrupt?

    02/07/2025

    IOTA Joins Government Strategies in Peru, Kenya, and the UK—Here’s Why

    02/07/2025
  • Blockchain

    Spheron Taps 0G Labs to Build Scalable Backbone for On-Chain AI

    02/07/2025

    Bitget Wallet Launches Crypto-Linked Mastercard in Partnership with Immersve

    02/07/2025

    Datagram Unleashes Revolutionary AI Layer-1 Blockchain on Avalanche with $4M Boost

    02/07/2025

    Dinari and BitGo Partner to Bring Tokenized Equities and Crypto Together in a Single API Platform

    01/07/2025

    Midas and 0G Join Forces to Put Real‑World Assets on an AI‑Friendly Blockchain

    01/07/2025
  • DeFi

    Arbra Launches Tokenized Tech Investment via Colb

    02/07/2025

    Flare Launches 2.2B FLR Incentive Program to Boost FAssets and Institutional DeFi

    02/07/2025

    You Can Now Trade Stocks Like NVDA and MSTR on Solana: Here’s How It Works

    02/07/2025

    Solana and Ethereum See Capital Rebalancing in Q2 — Is MAGACOIN FINANCE the Breakout Alternative?

    01/07/2025

    Maple Finance, EtherFi Introduce ETH Restaking for Institutional Lending

    01/07/2025
  • Metaverse

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025

    Mark Zuckerberg Unveils New Meta AI Lab After Poaching OpenAI Talent

    01/07/2025

    Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test

    28/06/2025

    Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge

    26/06/2025

    How to Get Your Chatbot to Talk Dirty

    18/06/2025
  • Regulation

    What Happens to USDC Reserves If Circle Goes Bankrupt?

    02/07/2025

    Crypto ETF filings multiply ahead of SEC index fund decision

    02/07/2025

    Crypto Is Now Trump’s Second-Most Lucrative Source of Income

    01/07/2025

    Plasma’s $1B ICO Access Vault Sparks Familiar Backlash

    01/07/2025

    Tron’s Public Listing Might be Investors’ ‘Visa’ Moment for Stablecoins

    01/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Highly Confidential Details Leaked About X’s (Twitter) New Payment System ‘X Money’ – Are Cryptocurrencies Involved? Here’s What We Know

    02/07/2025

    Coinbase Custodies 81% of $140 Billion in Crypto Assets Held by US ETFs

    01/07/2025

    Bitcoin Exchange Binance Announced That It Will Fully Support This Altcoin’s Network Upgrade and Hard Fork Process! Here Are the Details

    01/07/2025

    User holdings drop for BTC and USDT

    01/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Complete Guide to the Web3 Strategy Game

    02/07/2025

    MattleFun Integrates Adventure Layer’s Gaming L2 Solution to Power Advanced Web3 Gaming Experience

    01/07/2025

    What’s Next for ‘MapleStory Universe’? More Ways to Play

    01/07/2025

    The Biggest Games Releasing in July 2025

    29/06/2025

    Bitcoin Network Hashrate Declined in June as Miners Reacted to Recent Heatwave: JPMorgan

    01/07/2025

    Donald Trump Won’t Stop! Trump-Linked Company Makes Another Bitcoin (BTC) Move!

    01/07/2025

    Bitcoin Mining Companies’ Revenues Are Falling, But They’re Not Selling – What Does This Mean Historically?

    30/06/2025

    Why Did Bitcoin Hashrate Plummet After the U.S. Attacked Iran’s Nuclear Facility? Was Iran Mining Bitcoin? Here Are Estimates of Its Bitcoin Holdings

    29/06/2025

    US academic institutions urge SEC to implement stringent crypto staking rules, oversight

    30/06/2025

    Majority Whip Tom Emmer says House will vote on GENIUS stablecoin bill if paired with CLARITY Act

    30/06/2025

    Lost in Translation – A Look at Who Is Really Building a Korean Stablecoin

    30/06/2025

    House clears HB 1664, setting Commerce Department as lead federal blockchain coordinator

    30/06/2025

    Arbra Launches Tokenized Tech Investment via Colb

    02/07/2025

    Polymarket Prediction Maintains a Bullish Outlook for Ethereum July Price

    02/07/2025

    What Happens to USDC Reserves If Circle Goes Bankrupt?

    02/07/2025

    IOTA Joins Government Strategies in Peru, Kenya, and the UK—Here’s Why

    02/07/2025
  • MarketCap
NBTC News
Home»DeFi»Pendle lifts cap for Ethena’s USDe, the protocol also extends into Aave
DeFi

Pendle lifts cap for Ethena’s USDe, the protocol also extends into Aave

NBTCBy NBTC28/06/2024No Comments5 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Ethena’s protocol is making more connections in the DeFi space, with a higher cap for USDe on Pendle. Ethena is seeking liquidity for its USDe on multiple DeFi protocols. Ethena’s earnings depend on the performance of Ethereum (ETH).

Also Read: Ethena’s USDe shows trading disparity after staked token trades lower than $1

Ethena is a yield and DeFi lending protocol that offers as much as 27% APY for holding and staking USDe. In return for the staking rewards, holders of sUSDe take the risk of de-pegging from the dollar, as well as low liquidity. However, sUSDe is a tool to tap into the growth of ETH without personal exposure.

Ethena’s USDe expands to multiple protocols

In a single day, Ethena’s USDe is now expanding into re-staking protocol Pendle, as well as the biggest DeFi lending protocol, Aave. Pendle announced it is raising the cap for USDe deposits up to $350M. The protocol promises annualized returns of 25.7%.

Ethena is partnering with new protocols ahead of its Season 2 farming. Holders of USDe will be able to earn Sats points and earn a part of the Ethena airdrop fund. Sats, or Ethena points, can be earned daily through Mito protocol.

Thursday surprise – cap for @ethena_labs sUSDe (Jul 2024) has been lifted to 350M 🌊

🔹 20x Sats/day + sUSDe yield
🔹 25.7% Implied APY

GM. pic.twitter.com/9jLFDjskZW

— Pendle (@pendle_fi) June 27, 2024

Ethena is holding multiple campaigns while hinting at another ENA token airdrop. The loyal holders of the Ethena protocol will be able to provide liquidity in the USDe/USDT pair on the Mito decentralized protocol while earning Sats points.

The expectation of points and a future airdrop is part of the loyalty program for holding USDe and not moving to other protocols. Ethena’s rewards are currently among the highest in DeFi lending and yield protocols.

Ethena is also growing more popular due to the relative stability and bullish outlook for Ethereum (ETH). For Ethena, the predominance of long positions on ETH decreases risk and helps it keep the stability of sUSDe and USDe. Since March, Ethena also includes Bitcoin (BTC) as additional collateral for its protocol.

.@ethena_labs season 2 Airdrop (sats farming) is going to be loud 🤯

considering the fact that out of 35% of total supply allocated for Airdrops only 5% was distributed during season 1 Airdrop (shard farming)

.@MitoFinance is rewarding Stakers of $USDe – $USDT LP with 15x sats… pic.twitter.com/JtEWbitIfM

— Tega 🥷🏴‍☠️ (@0xtega_) June 28, 2024

Ethena adds USDe to Aave liquidity pairs

Ethena will start to grow its liquidity through Aave, the leading lending DeFi protocol. Aave, with its GHO stablecoin, is adding potential liquidity for tokens or other protocols.

Ethena’s sUSDe can now be used as collateral on Aave V3, against any of the available stablecoins in the protocol. Aave V3 will thus offer a new mechanism to swap sUSDe for users that want to revert to another token. For long-term holders, liquidity injections will be translated to earning more airdrop points.

📢@ethena_labs $sUSDe is now onboarded to @aave.

The parameters set for it are:
– Max LTV: 72%
– Liquidation threshold: 75%

You can now open a 3.4x leverage position through DeFi Saver, and earn higher yield and sats points, using the $sUSDe as collateral against any… pic.twitter.com/jD9xdBfdLf

— DeFi Saver (@DeFiSaver) June 28, 2024

The addition of USDe to decentralized trading on Aave happens just months after the protocol expressed worries about the risk profile of Ethena. The current addition is relatively cautious, aiming to have limited exposure. While Ethena has explained its risk profile, there are fears that it may follow the crash of Luna’s UST, especially if the stablecoin supply grows too fast.

MakerDAO is the biggest provider of liquidity for Ethena. Maker added $1B in DAI tokens to support USDe.

Also Read: 3 Crypto Airdrops To Watch This Week: Blast, Sealana, Ethena

For now, USDe production has stopped at $3.6B, while Ethena seeks more partnerships for its point program. USDe has low-liquidity pairs mostly on decentralized exchanges but is also among the assets on the Poloniex exchange.

In June, USDe also joined as an asset on Bitget Global. The stablecoin will be used to provide liquidity and serve as a margin asset for perpetual swaps and futures. The partnership also added a new pair with USDT, securing an off-ramp for some USDe holders.

ENA still struggling to recover its previous price peak

Ethena is a protocol that awards special points, but it also has a native token, ENA. After the initial hype following an airdrop, ENA continued to slide and is now under the price levels right after launching.

ENA trades at $0.56, down from a peak of $1.40. ENA faced price pressure from airdrop recipients and is still considered risky.

Additionally, ENA traders noticed large-scale activity from whales, which may continue to pressure the price.

ENA is still seen as a potential breakout asset, after reaching a local bottom. New talks of an airdrop and the spread of USDe will continue to draw attention to Ethena.


Cryptopolitan reporting by Hristina Vasileva


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Arbra Launches Tokenized Tech Investment via Colb

02/07/2025

Flare Launches 2.2B FLR Incentive Program to Boost FAssets and Institutional DeFi

02/07/2025

You Can Now Trade Stocks Like NVDA and MSTR on Solana: Here’s How It Works

02/07/2025

Solana and Ethereum See Capital Rebalancing in Q2 — Is MAGACOIN FINANCE the Breakout Alternative?

01/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Arbra Launches Tokenized Tech Investment via Colb

02/07/2025

Polymarket Prediction Maintains a Bullish Outlook for Ethereum July Price

02/07/2025

What Happens to USDC Reserves If Circle Goes Bankrupt?

02/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.