About the project
Ethena is developing the USDe stablecoin, which is based on ETH and collateralized by derivatives.
The project is part of the Binance incubation program.
Fundraising: $20.5 million in two funding rounds from Dragonfly, Brevan Howard Digital, Maelstrom, Binance Labs, Franklin Templeton, Fidelity, Deribit, OKX, Gemini, Arthur Hayes, and others.
The program has commenced with the following point (shard) distribution:
- 1x Shard/Day for Staking USDe.
- 5x Shards/Day for Holding USDe.
- 20x Shards/Day for Providing Liquidity on Curve + lockup for 21 days (the most profitable scenario).
On the event page, there is a phrase “Rewards in May.” This means that these shards will be converted into tokens.
All pools are now full, except for the USDe:
Here are the steps:
Before starting, ensure you have the right assets in your wallet.
- Visit the Ethena platform and connect your wallet.
- Navigate to the “BUY” tab and purchase USDe for half of the stake amount (in case you don`t have them).
- Return to the Ethena platform, go to the “Liquidity” tab, and click on “Lock” next to your chosen pool. Everything is now set up.
- You’ll be able to unlock your funds after 21 days.
