Ethena Labs has reported a key milestone with the seamless integration of sUSDe into Aave
- Linda HamiltonOriginal
- 2024-11-16 21:00:15374browse
By means of this integration, sUSDe can act as collateral on the Ethereum mainnet and Lido instance, therefore enabling borrowing billions of
DeFi protocol Aave has announced the addition of sUSDe as collateral on both the main Ethereum and Lido instance.
This integration enables users to borrow billions of dollars of stablecoins against sUSDe, maximizing their borrowing opportunities.
Upon integration, Aave users can enjoy borrowing other stablecoins like USDS and USDC at optimal rates.
In addition to the appealing yields, users who provide sUSDe as collateral on Aave will also earn points for Ethena’s Season 3 campaign, which features a 10x sats reward scheme.
The integration parameters that have been suggested by Ethena Labs are as follows:
- Liquid E-Mode capability
- An LTV of 90%
- A liquidation threshold of 92%
Previously, CNF reported that Ethena Labs has proposed supporting assets for USDe, including Solana (SOL) and liquid staking variants.
This calculated move aims to diversify collateral, boost scalability, and unlock billions in open interest through perpetual futures.
Solana’s integration emphasizes Ethena’s goal to amplify USDe’s footprint and value within the decentralized finance network.
Moreover, as reported earlier, Ethereal Exchange has also proposed a joint venture with Ethena to accelerate USDe adoption.
If accepted, this integration would allocate 15% of Ethereal’s token supply to ENA holders.
The exchange aims to provide decentralized alternatives to centralized platforms together with self-custody and high-speed transactions, boasting a capacity of 1 million transactions per second.
At the time of writing, Ethena’s native token, ENA, trades at around $0.5489.
The token has seen a remarkable 6.44% and 38.13% increase over the last 7 days and 30 days, respectively.
This strong performance has pushed ENA’s market cap past the $1.5 billion mark.
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