Ethena
FreeDecentralized Synthetics
Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native yield-bearing stablecoin.
Ethereum
Hyperliquid
Plasma Ethereum Hyperliquid PlasmaDecentralized Synthetics
Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native yield-bearing stablecoin.
Ethereum Hyperliquid PlasmaEthena is a groundbreaking synthetic dollar protocol that introduces USDe, a censorship-resistant and scalable stablecoin built on the Ethereum blockchain.
By utilizing delta-neutral hedging strategies against staked ETH collateral, Ethena ensures that USDe maintains its peg while generating native yield for holders.
The protocol also features the 'Internet Bond,' a global dollar-denominated savings instrument that democratizes access to sophisticated financial products.
Ethena focuses on decentralization and transparency, providing a robust alternative to traditional centralized stablecoins.
As a vital engine for capital efficiency, Ethena drives innovation and stability within the decentralized finance landscape, empowering users with a reliable and productive digital dollar.
Long spot collateral against an equal short perpetual, so price moves cancel. Where the yield comes from, and what happens when funding turns negative.
Written for people building something similar: how the delta-neutral core is assembled and how sUSDe distributes what it earns.
Build secure dApps, tokens, DeFi & DAOs with a team focused on mainnet-ready delivery.
Regenerative Finance Dapps • Starknet
Decentralized Synthetics • Polygon
Regenerative Finance Dapps • Starknet
