<\/p>\n
Users can now deposit stETH, weETH, ETH and WBTC on Aave to borrow stablecoins into Ethena USDe or sUSDe.<\/p>\n
Ethena Labs, issuer of the fourth-largest stablecoin by market capitalization, continues to broaden USDe\u2019s reach in Decentralized Finance (DeFi), and has integrated with the industry\u2019s largest lending platform, Aave.<\/p>\n
According to<\/a> Ethena\u2019s team, users can now deposit USDe and loop their position with other stablecoins on Aave, and deposit stETH, weETH, ETH and WBTC on Aave to borrow stablecoins into Ethena USDe or sUSDe. Users will also unlock long delta exposure to tokens such as ETH while providing liquidity into Ethena.<\/p>\n Additionally users will be able to earn Sats for posting USDe collateral (20x multiplier), sUSDe collateral (10x, although it needs to be confirmed via a governance vote), stETH, ETH, rETH, and weETH collateral to borrow GHO into USDe (10x) among other bonuses.<\/p>\n \u201cAfter a quarter, the asset is more mature and has been deemed acceptable to be onboarded with caps and inside isolation mode,\u201d Marc Zeller of the Aave Chan Initiative said. He told The Defiant there was no pushback from the community \u201cat all,\u201d and that risk parameters are sound.<\/p>\n His words come as a surprise, given Zeller authored a proposal<\/a> in Aave\u2019s governance forum to revoke the collateral status of DAI on Aave, when MakerDAO caused DeFi community members to clash<\/a> over adding USDe as collateral in early April.<\/p>\n The integration is yet another power move by Ethena. Despite triggering some short-term PTSD<\/a> by how its yield-bearing architecture works\u2013through a unique blend of native staking returns, and average funding paid to shorts\u2013users have been flocking to the protocol and its stablecoin USDe.<\/p>\n USDe has quickly climbed the ranks and now sits in fourth place among all stablecoins<\/a> by market capitalization. It has grown<\/a> 42% in the past 30 days, rising from $2.2 billion to $3.2 billion.<\/p>\n By joining Aave, Ethena unlocks the largest lending ecosystem in the industry. Aave holds $13.2 billion in total value locked (TVL), which accounts for 35% of the sector, according to<\/a> DefiLlama.<\/p>\n The Ethena team explained today on X that the current borrow rates on USDC<\/a> for Aave \u201ccompare favorably\u201d to the borrow costs observed on the MorphoLabs USDe and sUSDe vaults and may provide a cheaper option to access levered exposure.<\/p>\n Borrow rates for USDC on Aave<\/a> sits at 12.8%, whereas USDe on Morpho<\/a> is currently at 15.4%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Users can now deposit stETH, weETH, ETH and WBTC on Aave to borrow stablecoins into Ethena USDe or sUSDe. Ethena Labs, issuer of the fourth-largest stablecoin by market capitalization, continues to broaden USDe\u2019s reach in Decentralized Finance (DeFi), and has integrated with the industry\u2019s largest lending platform, Aave. According to Ethena\u2019s team, users can now […]<\/p>\n","protected":false},"author":2,"featured_media":319100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-319097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=319097"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319097\/revisions"}],"predecessor-version":[{"id":319105,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319097\/revisions\/319105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/319100"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=319097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=319097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=319097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}‘More Mature’<\/h2>\n
Climbed the Ranks<\/h2>\n