This is one of the product releases you glance over and don't take seriously but you should. Earn+ will be one of the killer features for Ethena Pay that is almost impossible to compete with for dollar savings at scale. I'd hope I'm within the top ~5% of DeFi power users, but I don't even spend the time and energy to optimize DeFi loops across multiple chains and lending markets which requires 24/7 attention. This is a one-click access point to optimized levered USDe rewards with the capability to operate cross chain from a single vault with no management of debt positions required at all. This is the highest unincentivized reward rate on dollars at multi-billion scale with a simple one-click user experience that has averaged ~10-15% APY even during the bear market, and much higher in the bull market. Available exclusively on Ethena Pay 🌍.

Had a few users flagging a large investor wallet moving coins in the last 48hrs - can confirm this is a security precaution related to the recent hardware wallet concerns, not coins being moved and sold.

The @ether_fi team executed one of the most impressive product expansions in the last cycle growing into the most successful self custodial neobank in the space. We've been impressed from the outside on their execution quality, consistency building through the bear market and obsessive focus on product - one of the few teams we look up to at Ethena. Yes it is somewhat competitive with Ethena Pay, but the very best builders just focus on building the best product with the best partners, and look beyond the crypto-native user set as the addressable market opportunity. Ethena will power their new whitelabel stablecoin end-to-end, with USDe already supporting their separate earn savings vaults. In order for these applications to fully capture their revenue opportunity, they need to control the deposit and float via stablecoin balances. This is a trend @ether_fi will pioneer and I'm sure we will see others will follow closely behind.

Standard Chartered has initiated research coverage of Ethena. They forecast potential USDe growth of ~8x in the next 2 years as the convergence of DeFi and TradFi accelerates. Unclear why they are so bearish, but worth a read regardless:

Binance Wallet has enabled USDe rewards. USDe has been selected as one of only three assets eligible for @BinanceWallet's new Hold to Earn - and offers the highest rate available. Hold USDe and earn rewards automatically, paid by Binance.

Proud to announce that Ethena has completed a SOC 2 Type II audit based on the Security Trust Services Criteria, receiving a clean opinion from an independent auditor with zero exceptions noted. SOC 2 is a widely recognized standard for enterprise-grade, operational security assurance: an independent audit of how Ethena actually run access control, change management, monitoring, and incident response. Unlike a Type I report, which checks that controls are designed correctly at a single point in time, a Type II examination tests that those controls actually operated effectively over time. The audit covers infrastructure and processes supporting our products. It is distinct from, and complementary to, the smart contract audits and security reviews covering the Ethena protocol. We believe rigorous operational security should be table stakes for any onchain infrastructure handling billions of dollars, and we intend to maintain continuous SOC 2 coverage into the future. Ethena joins a very short list of onchain businesses that have completed SOC 2 Type II, including Circle, Chainlink and Aave. The full report is available to partners on request under NDA.

Excited to share what we've been working on for a while in stealth with our new neobank mobile experience built on Ethena's existing product set. This is one of the few product categories that have emerged in the last couple of years that I think has a genuine chance of breaking out of the crypto native user set to hundreds of millions of people. While some of the existing neobanking products today are impressive, and I personally use a few of them daily, we think the addressable market here is the hundreds of millions of users not already operating onchain which haven't been served yet. Rebuilding the mobile banking product experience on stablecoin and blockchain rails simply produces a better product experience for users with near instant and zero cost transfers and settlements, higher savings rates leveraging DeFi financial primitives and importantly these products can be global by default almost immediately. Ethena sits in a unique position as the first scaled dollar issuer vertically integrated with the consumer application experience. If you don't own the yield engine and stablecoin issuance, you are at a structural disadvantage from a revenue perspective to provide the most competitive offering across the entire product suite. For Ethena, being able to build the direction relationship with end users for our existing savings products, rather than just via exchange and fintech integrations, let's us control the destiny of our distribution channels in a better way than we have to date. We think the neobanking app form factor is the best way to achieve this. 90% of financial services for most normal people is just send, save and spend. We hope Ethena Pay will be the best place for you to do this.

The growth of equity and commodity linked perpetuals has been the most exciting development in the space in the last year, with RWA perpetuals already growing to >50% of Hyperliquid crypto volumes last month, and aggregate Binance RWA volume at 2x BTC-USDT last month. High conviction view that this is one of the very few 100x left in the space, and I expect both open interest and volume to exceed crypto perpetuals across all venues within the next ~24 months. For Ethena this is the most exciting opportunity since we started: effectively expanding the underlying asset base from ~$2.5tn of crypto to >$120tn of equities. USDe peaked at ~$15b on crypto alone and we expect by the end of this next cycle the opportunity here will unlock scaling to a multiple of that number. While we would have liked to do this earlier, we took a cautious approach to what was a nascent market and waited until we saw deep, liquid markets with a data history we could study before moving into the opportunity at scale. Over the next weeks we will begin deployments into equity basis across the venues where we already execute crypto basis with the same battled tested infrastructure used to date. Become more clear this cycle that the very best businesses in crypto aren't just levered to the crypto cycle but can be flexible enough to reposition their businesses every 4 years when crypto is in the gutter. Going forward the growth and through-the-cycle resilience of Ethena will be tied more closely to basis on these markets rather than crypto alone.

We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below: 1. Buyout of early investors: The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any ENA within the last 9 months. 2. Alignment of Token & Equity: The Ethena Foundation and Ethena Labs have reached agreement on a Master Framework Agreement, whereby IP and ownership of value accrued by the protocol is assigned to the Foundation exclusively and governed by token holders with no residual cash flow due to equity investors in the Labs entity. 3. Revenue Buybacks: Governance proposal now live for the implementation of the fee switch whereby net revenue accrued across all business lines under the Ethena brand will be used to programmatically buy back the ENA token. The vote for revenue buyback fee switch implementation is now here, and has already been approved by the Risk Committee: 4. Removal of monthly VC unlocks: The Ethena Foundation and lead investors have agreed to eliminate future overhang associated with monthly VC investor unlocks by releasing unvested tokens. All team tokens remain locked per the original vesting schedules. Further details and documentation is provided in the blog linked below:

Turns out, the next 10x in crypto was @lighter_xyz's proving speed - top solvers: > @0xBoobavelli > i34-9 (GitHub) > @FrostForger The competition runs until August 25th - expanding below on what's being improved, and what it means for the exchange

We've never seen a stronger pipeline of fintechs and brokerages looking to integrate onchain earn functionality into their product offerings. Ethena's product suite will be the primary collateral on the new Robinhood crypto earn feature, with more to come.

Excited to announce our collaboration with @Blackrock. →Integration of USDe into BlackRock's Aladdin platform →BUIDL as the primary asset for our whitelabel product →Liquidity facility on BlackRock tokenized products The integration of USDe on Aladdin provides unique institutional access for the >$20 trillion of assets managed by financial institutions on Aladdin.

StablecoinX Inc. @stablecoin_x is now trading on Nasdaq Global Market under the ticker "USDE". As the first treasury company focusing on Ethena, StablecoinX gives public-market investors direct access to the most important emerging trend in all of finance: the secular growth of digital dollars.

The first product in the Ethena ✦ Coinbase collaboration is now live. The @SteakhouseFi High Yield Vault has officially launched on @Coinbase, powered by USDe on @Morpho. Coinbase's user base now has access to a best in class savings rate through the vault, live in the Coinbase App for users in the U.S. and abroad.

As Ethena broadens its scope into RWAs excited to bring our first partner to market for USDe backing outside of BlackRock BUIDL with Janus Henderson JAAA. Importantly, as we continue to partner with asset managers like Janus Henderson as allocators into their products, we simultaneously broaden USDe distribution into their own institutional distribution channels we wouldn't otherwise have access to.

Excited to partner with Coinbase for the first time to support their dollar savings products. The upcoming integration next week will be the first time Ethena products are available for their 100m+ user base. Given the evolving nature of the Clarity Act, we expect further potential tailwinds for onchain native products like USDe from idle balances on exchanges, and Ethena is well positioned to support this transition.

stoked to announce that im joining @ethena to lead a new product which will be revealed publicly soon after my last job, i thought i would take a longer time off but some opportunities don't wait for you there is a very short time window where you need to act or the opportunity may not be there in that form a few months later this was the case here everything i'm passionate about, reunited in one product all the stars aligned for that industry segment to explode over the next few years everything i've done in crypto so far, all the skills i acquired seem like preparation for this next chapter more soon