<\/p>\n
The Ethena community-approved spot and perp DEX launched its mainnet with early access for USDe-based trading.\n<\/p>\n
Ethereal, the spot and perpetual futures DEX approved by Ethena community governance, announced<\/a> in a Tuesday X thread that its mainnet alpha is now live, and a small group of users can start trading with USDe, a synthetic dollar stablecoin by Ethena Labs<\/a>.<\/p>\n First proposed<\/a> to Ethena governance last year, Ethereal is described as the \u201conly perps DEX building a complete all-in-one DeFi money app around USDe,\u201d according to the project\u2019s documentation<\/a>. Under that plan, ENA holders are set to receive 15% of any future Ethereal token, tying the exchange\u2019s growth directly to Ethena\u2019s token economy.<\/p>\n Following the mainnet launch announcement, the price of ENA<\/a> jumped nearly 4%, pushing it into the biggest gainers among the top-100 assets over the past 24 hours, per data<\/a> from CoinGecko.<\/p>\n According to the DEX\u2019s documentation, Ethereal runs on its own Ethereum Virtual Machine (EVM) appchain \u2014 a type of custom blockchain built for a single application \u2014 called the Ethereal Chain. The chain uses Ethereum Layer 2 Arbitrum<\/a>\u2019s execution layer, and settlement takes place on Arbitrum One, while Celestia provides data availability. For perps trading, margin, funding, and profit and loss (PnL) settle in USDe on Converge \u2014 a blockchain developed<\/a> by Ethena Labs and Securitize. <\/p>\n That design lets Ethereal process trades inside a purpose-built appchain, while still keeping Ethereum<\/a>-level security through Arbitrum and Ethena\u2019s shared stack. According to the documentation, the setup also relies on Conduit for sequencing, Pyth for price feeds, and LayerZero for cross-chain messaging.<\/p>\n Earlier in October, Ethena Labs teamed up<\/a> with Jupiter, the largest<\/a> DEX aggregator on Solana<\/a>, to jointly launch JupUSD, a new stablecoin built on Solana. The stablecoin is still in development and is expected to launch in the coming months.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The Ethena community-approved spot and perp DEX launched its mainnet with early access for USDe-based trading. Ethereal, the spot and perpetual futures DEX approved by Ethena community governance, announced in a Tuesday X thread that its mainnet alpha is now live, and a small group of users can start trading with USDe, a synthetic dollar […]<\/p>\n","protected":false},"author":2,"featured_media":408863,"comment_status":"closed","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-408860","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\/408860","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=408860"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/408860\/revisions"}],"predecessor-version":[{"id":408865,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/408860\/revisions\/408865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/408863"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=408860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=408860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=408860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}