Introducing the USDe Growth Initiative on Kamino. Users can now loop USDe on Kamino's dedicated @ethena Multiply vault to earn over 20% Net APY at launch, with auto-compounded yield, and liquidation protection. It’s USDe season on @solana, powered by Kamino.

Bitwise is continuing to dive deeper into DeFi with our first curator role on @Solana. We’re proud to partner with @ethena, @jupiterexchange, and @0xFluid to launch this new market centered around USDe. Capital markets are moving onchain, and we’re excited to help lead the way.

We just onboarded a multi-billion-dollar crypto asset manager to deploy an institutional-grade lending market. @Bitwise is now curating an @ethena market on Jupiter Lend. A turning point for on-chain lending 👇

Jupiter Lend has grown into one of the largest lending venues on Solana within months of launch. Today, Ethena joins the platform with its own dedicated market. The Ethena market on @JupiterExchange is fully isolated from the existing Jupiter Lend deployment, and curated by @Bitwise who brings onchain asset management and risk oversight to support institutional participation in this Ethena market.

Following the recent post outlining the backing diversification of USDe, we have published an analysis of the basis trade on gold perpetuals Tokenized gold and commodity perpetuals are two of the fastest growing markets in the industry today Gold funding rates offer an uncorrelated source of return and tend to hold or rise when crypto funding compresses This post explores how commodity basis trades can complement Ethena's overall basis strategy, with research from Ethena Risk Committee members Read more below:

We've published a security blog post on the recent rsETH incident. The post details what happened, our response, and the design decisions made beforehand that protect USDe. Read it below.

Here's what happened in April @ethena: • Announced a planned diversification of $USDe backing. • USDe was listed on @aave's @megaeth instance. • Crossed $600m in Ethena Whitelabel stablecoin supply across USDm, jupUSD, and suiUSDe, with more to come. • @BitGo integrated Ethena-powered dollar savings for institutional clients. • @krakenfx became the first US exchange to support Ethena rewards on $USDe. • Partnered with @lifiprotocol on Earn, a new product enabling any wallet, app, or fintech to offer onchain savings to their users. • Launched new Ethena pools on @pendle_fi across the full range of Ethena assets. • @origami_fi launched a new vault built on Ethena assets. • @3janexyz added Ethena assets to their credit-based money market. • $BASED claiming for all eligible sENA holders went live. • $4m in rewards distributed to reUSD and reUSDe holders in under a year via @re. • @etherealdex began alpha testing Ethereal Predict, a USDe native prediction market • Opened new roles. • Operated through the rsETH incident without any issues - billions in $USDe mint and redeem flows handled cleanly, with Ethena contributing to the recovery. Onwards.

.@benbybit on who actually won the last bull run: @ethena, Hyperliquid, and prediction markets. "The rest - I don't know what's going on with them." The early @Bybit_Official bet on Ethena looks pretty good right now.

Ethena has been working closely with affected parties this week in a supporting capacity and is participating with a contribution into @aave's coordinated DeFi relief effort following the rsETH related incident. As part of a broader recovery initiative alongside other ecosystem participants, Ethena's contribution will go towards restoring the rsETH backing in support of an orderly resolution for stakeholders. Aavethena.

LayerZero bridging for both sUSDe and USDe is now back live across all chains following the temporary pause. We've strengthened security by increasing DVNs from 2/2 to 4/4 across all chains with the existing rate limits of $10m per hour. We will continue providing updates as necessary.

As we have not yet received a satisfactory root cause analysis for the rsETH incident, we are extending the temporary pause on the OFT bridge. We understand this is frustrating, but believe this is the prudent step to ensure safe cross-chain movement of your assets. We have published a new Proof of Reserves, verified by our four independent third-party attesters: Chainlink, Chaos Labs, LlamaRisk, and Harris & Trotter, confirming USDe collateral backing remains >100%. Results are available on our transparency page and the dashboards below: We will continue to provide updates as we receive them.