There are a lot of important conditions to consider before using @EthenaPay. Here’s the fine print: → The full 5% cashback is only for VIP users, while Standard gets 4% and Pro gets 4.5%. → Cashback rates decrease once your monthly spending passes certain limits. → Cashback is paid in $AVAX, so its dollar value can rise or fall after you receive it. → Selected brands like Uber, Spotify and Claude offer up to 10% cashback for VIP users. → Pro requires locking $2,000 in $ENA or referring 10 users. → VIP requires locking $10,000 in $ENA or referring 50 users. → The 6% rate only applies to balances up to $15,000 for Pro and $50,000 for VIP. → You must make at least one qualifying card purchase each month to receive the boosted rate. → The boost is promotional, not guaranteed, and can be reduced or discontinued. → Ethena Pay isn’t technically a bank, and balances aren’t protected by deposit insurance. → The wallet is self-custodial, so Ethena cannot recover your funds if you lose access. → The Visa card is secured by assets in your wallet, which can be liquidated if card charges aren’t covered. → Some bank transfers, onramps and blockchain transactions may still include third-party fees. → It’s currently available in 49 countries, but the US, EU, UK and Canada aren’t live yet.