Project Overview
Guide
To be eligible for the Ethena Season 3 airdrop campaign, users must follow these criteria:
Wallet Setup: Ensure you have a wallet compatible with the Ethereum blockchain, such as MetaMask, Trust Wallet, or Ledger, and that it contains enough ETH to cover gas fees.
Participation Methods: Accumulate points by:
Holding USDe: USDe held in applications like Morpho, Aave, Pendle, or Curve LP receives a 20x reward.
Staking sUSDe: sUSDe held in similar applications receives a 5x reward.
Liquidity Provision: Participate in lending or LP activities through platforms like Pendle. Purchase YT USDe or PT USDe on Pendle to maximize Sats earnings. Note that YT USDe will have zero value at maturity but farms Sats quickly.
sENA Mechanism: Use the sENA token, which offers a maximum 40x reward and allows liquidity retention.
Bonus for Previous Participants: Users who participated in the first or second season receive a 10% bonus on their points for Season 3.
USDe Balance: Maintain your USDe balance above the snapshot level taken on September 1, 2024, to avoid points reduction.
Claiming Tokens: Users have 30 days to claim unclaimed ENA tokens after the allocation is made.
Latest X Summary
Ethena Project Update
Welcome to the latest update on Ethena, where we dive into the recent developments and opportunities for airdrop hunters. Ethena has been actively expanding its ecosystem, offering new ways to earn rewards and engage with the platform. Here's a summary of the key events and opportunities:
Recent Highlights
New Asset Listings and Opportunities
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Staked USDe on HyperLend: Ethena's staked USDe (sUSDe) is now listed on HyperLend. Users can supply sUSDe and earn 5x Ethena rewards. Tweet
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USDe on HyperLend: USDe has been listed as a supply asset on HyperLend. Users can borrow USDe against HYPE, staked HYPE, and other assets, benefiting from positive carry between USDe APY on HyperCore and HyperLend's borrow APY. Tweet
Earning Opportunities
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Morphobeat Vaults: Supply USDe to 0xHyperBeat's Morphobeat Vaults to earn Hyperbeat points and Ethena points. These vaults are built on the MorphoLabs stack. Tweet
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Felix Protocol's Vanilla Markets: Earn double-digit APY and Ethena points by supplying USDe or borrowing against HYPE and Hyperunit assets. Tweet
Liquidity Pools and Rewards
- Curve Finance Pools: USDe pairs are now among the top liquidity pools on Curve Finance's HyperEVM deployment. Liquidity providers (LPs) earn swap fees and 30x Ethena points, with additional sUSDe APY for sUSDe LPs. Tweet
Integrations and Expansions
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Hyperdrive Launch: Hyperdrive is now live, allowing users to supply or borrow USDe against HYPE or Hyperunit's assets, enhancing capital efficiency. Future plans include looping HLP against USDe and borrowing against USDe for trading perps. Tweet
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Ethena x Pendle x Aave: Ethena PTs have grown significantly on Aave, with new collateral additions including July USDe PT, August eUSDe PT, and eUSDe, totaling an aggregate market size of ~$700 million. Tweet
Summary
Ethena continues to expand its ecosystem with new asset listings, earning opportunities, and integrations. Airdrop hunters can take advantage of the various rewards and incentives offered through partnerships with platforms like HyperLend, Felix Protocol, and Curve Finance. Stay tuned for more updates as Ethena rolls out additional features and integrations.
For more details, follow Ethena on Twitter and keep an eye on their latest announcements.
