馃殌 Plasma Unlocks Leveraged
馃殌 Plasma Unlocks Leveraged
馃懟 Plasma's $400M Move
Aave's Plasma instance now supports Principal Tokens (PTs) for USDe and sUSDe, each with $200M supply capacity.
Key Features:
- USDT borrow rates at competitive ~4% APY
- Market-leading incentives for leveraged PT exposure
- Direct YT buying incentives to boost PT rates above market
What This Means: Plasma positions itself as the premier destination for leveraged Ethena asset exposure through Pendle integration.
Incentive Structure:
- USDe YT holders: 60x Ethena Points + XPL rewards
- sUSDe YT holders: 20x Points + XPL rewards
- PTs trading above mainnet rates at ~10%
With over $3.5B USDT already on Aave Plasma, the platform is set to become the second-largest venue for leveraged Ethena PT exposure.
More capacity increases expected as demand grows for this integrated DeFi solution.
PTs for USDe and sUSDe have listed on Aave's @plasma instance, with $200m of supply capacity each. With a borrow rate for USDT in the ~4% range, Plasma is the best place on chain for users to gain access to leveraged PT exposure via Aave. Expect more cap raises soon 馃懟
ENA Token Now Available for Spot Trading on Hyperliquid Exchange
**ENA token launches on Hyperliquid spot trading** via Unit XYZ Trade integration. Traders can now access ENA/USDC trading pairs on the Hyperliquid platform. The listing expands ENA's availability beyond previous exchanges like OKX. - Direct trading available at [Hyperliquid](https://app.hyperliquid.xyz/trade/ENA/USDC) - Integration powered by Unit XYZ Trade - Adds to ENA's growing exchange presence The move provides additional liquidity options for ENA holders and new entry points for traders interested in the Ethena Labs ecosystem token.
Ethena Joins SEAL's Pilot Program for Crypto Security Certifications
**Ethena** has joined **SEAL's pilot program** for operational security certifications, marking a significant step in crypto security standardization. **SEAL** is developing crypto-native frameworks across five key areas: - Incident response protocols - Multisig operations - Treasury operations - Workspace security - DNS security This partnership demonstrates Ethena's commitment to **operational excellence** and security best practices in the DeFi space. The certification program aims to establish **industry standards** for crypto operations, potentially setting new benchmarks for protocol security across the ecosystem.
Ethena Partners with Nunchi for Yield Market Perpetuals on Hyperliquid
**Ethena announces partnership with Nunchi**, a Hyperliquid HIP-3 deployer building perpetuals on yield markets. **Key Partnership Details:** - Nunchi enables trading on RWA rates, dividends, and ETH staking yields - Revenue sharing with Ethena ecosystem plus potential token airdrop - All initial markets use **USDe as quote asset** - Traders earn rates on USDe margin, reducing fees and funding costs **Rewards Structure:** - nHYPE stakers get **20x Ethena rewards** for exchange bootstrapping - Part of broader Ethena expansion into Hyperliquid ecosystem **Broader Ecosystem Growth:** - Follows Ethena's investment in BasedOneX (largest HyperCore Builder) - Based generates mid-8 figures revenue with sENA holder benefits - USDe integrated across major HyperEVM applications Ethena continues seeking partnerships with HIP-3 deployers to expand DeFi utility.
Ethena's Combined TVL Breaks $16B Milestone
**Ethena's stablecoin ecosystem hits new record** The combined Total Value Locked (TVL) for Ethena's USDe and USDtb stablecoins has **surpassed $16 billion**, marking another all-time high for the protocol. **Key highlights:** - Both USDe and USDtb contributing to the milestone - Continued growth trajectory from previous $6B supply milestone in July - Demonstrates sustained adoption in the stablecoin market This achievement reflects **growing confidence** in Ethena's synthetic dollar approach and positions the protocol as a significant player in decentralized stablecoin infrastructure.