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Ethena logo

Ethena

Yield & StakingFree
★4.3

Synthetic dollar protocol creating USDe stablecoin backed by delta-neutral positions. Earn yield by staking USDe into sUSDe. Launched the Ethena chain.

Key Features

  • ✓USDe synthetic stablecoin
  • ✓sUSDe yield-bearing staking
  • ✓Delta-neutral strategy
  • ✓Ethena chain
  • ✓Shard campaigns

👍 Pros

  • +High yields on stablecoins
  • +Innovative mechanism
  • +Growing DeFi integrations
  • +ENA token

👎 Cons

  • −Yield depends on funding rates
  • −De-peg risk in extreme conditions
  • −Complex mechanism
  • −7-day unstaking cooldown

Tags

ethereumstablecoinyielddefisynthetic-dollar
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PricingFree
CategoryYield & Staking
Rating
★4.3
AddedMar 30, 2026
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