Ethena has set mint and redeem fees to 0bps for USDT-backed USDe for all onboarded mint and redeem users, following the earlier reduction of USDC mint fees to 0bps, after which USDC:USDT secondary pricing reached parity. Copper has followed up by enabling clients to mint fee-free with USDT as well as USDC, citing rising USDe reward rates in its announcement. Mint and redeem fees remain subject to change.
Ethena has activated USDe rewards in its dedicated Ethena ecosystem market on Aave V4 on Ethereum. The incentive program lets users earn rewards on USDe supplied to the Aave market, deepening the integration between Ethena's stablecoin and Aave's lending infrastructure.
A Ethena Foundation governance vote to activate the fee switch passed unanimously, with 100% of votes in favour. The fee switch milestones are now activated and the switch is set to begin activating programmatically.
This moves USDe/sUSDe revenue sharing one step closer to being turned on for token holders, after earlier votes set the stage.
Ethena published a monthly recap of its August activity, highlighting the EthenaPay neobank launch and a major ecosystem update from the Ethena Foundation. The Foundation's update involves a buyout of certain seed investors' locked tokens and the unlock of additional VC tokens to ease future unlock overhang on the token supply.
The recap frames the moves as part of Ethena's broader push around its stablecoin infrastructure. Ethena linked a fuller write-up of the Foundation's token adjustments for details.
Ethena has launched EthenaPay, billed as an "internet money neobank" built on its infrastructure, with the mobile app now available on iOS. The stealth-built product bundles a card with 5.0% spend cashback, a 6.0% dollar savings rate, borderless instant global transfers, free USD/GBP/EUR onramps and local FX, and multi-currency high-rewards savings accounts.
Ethena is exploring extending the assets backing USDe to include basis from equity perpetuals. The protocol notes equity perps now carry over $6bn in open interest across 200 contracts on venues Ethena already uses, growing more than 10x since March, with funding rates averaging 15–20% — over 5x a US Treasury benchmark.
Ethena shared the analysis and said it is extending USDe backing to this basis, outlining the opportunity in a follow-up post.
Ethena replied to its earlier post pointing readers to the same blog for further details, reinforcing the announcement's context. The blog link is the source for the full specifics.
Ethena pointed to a blog post for further details on a recent announcement, providing the full context behind its earlier post. The linked blog contains the specifics referenced across the thread.
Unresolved: the tweet content is truncated and cannot be summarized without fetching the announcement.
New RWA perpetual listing is now available through Lighter: users can trade $STABLECOINX at 5x leverage. Ethena amplified the announcement from Lighter, the RWA perps platform.
Ethena launched USDtb, a stablecoin holding roughly 90% of its reserves in BlackRock's tokenized USD Institutional Digital Liquidity Fund (BUIDL), developed in partnership with Securitize.
Ethena completed a private sale of ENA tokens raising $100 million, with investors including Franklin Templeton, Polychain, Pantera, Dragonfly, and Fidelity's F-Prime. The sale was finalized in December 2024 and publicly reported in February 2025.
Ethena's domain registrar account was compromised, leading to a front-end attack. The team temporarily shut down the frontend and warned users, confirming that protocol funds were unaffected.
Ethena launched its ENA governance token by airdropping 750 million ENA (5% of the 15 billion total supply) to early users, with Binance becoming the first platform to list it.
Ethena's USDe, a delta-neutral synthetic dollar backed by hedged ETH collateral and short perpetual futures positions, went live on the Ethereum mainnet.
Ethena Labs announced a $14 million strategic funding round co-led by Dragonfly and Arthur Hayes' Maelstrom, valuing the protocol at $300 million, alongside the public opening of its USDe stablecoin.
Ethena, founded by Guy Young, emerged from stealth with a $6 million seed round led by Dragonfly Capital, with participation from Arthur Hayes' Maelstrom and other investors, to develop its Ethereum-based synthetic dollar.
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