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: Season 4 Hints, Boosted Rewards, and New Earning Strategies!
Ethena has been buzzing with activity, pushing the boundaries of decentralized finance with its synthetic dollar USDe. For all you airdrop hunters out there, the past few weeks have brought significant updates, including tantalizing hints of a new airdrop season and exciting new ways to earn points and boosted yields!
ENA Season 4 Airdrop on the Horizon?
While Ethena itself hasn't made a direct announcement, a highly notable retweet from @alpha_pls explicitly mentioned "ENA Szn 4 airdrop" in the context of their latest newsletter focusing on Ethena. This strong hint suggests that participants should keep their eyes peeled for official announcements and continue engaging with the Ethena ecosystem, as a new season of rewards may be imminent!
Boost Your Earnings: Liquid Leverage and 5x Points!
A major development for point accumulators is the introduction of Liquid Leverage. Launched initially on Aave, this new integration allows users to deposit a 50% sUSDe and 50% USDe split to earn promotional rewards. Even more excitingly, Ethena has announced a significant adjustment to its USDe reward rates:
- 5x Reward Rate: Ethena will be adjusting the USDe reward rate on most money market integrations to a prospective 5x multiplier!
- YT Points: Users who loop sUSDe and USDe/eUSDe PTs while maintaining the underlying YT position will also earn points on their YTs.
This is a direct pathway to accumulating more points, making participation in Liquid Leverage a high-priority strategy for those aiming for potential future airdrops.
Learn More about Liquid Leverage & Points:
New Earning Opportunities & Integrations
Ethena is expanding its reach and offering diverse ways to earn yield and potentially qualify for future incentives:
- TON DeFi Integration: Ethena users can now earn up to 20% APY through TON DeFi by holding tsUSDe in TON wallets and engaging with leading fixed-rate, lending, and AMM protocols. Make sure to follow all instructions for eligibility!
- Pendle on HyperEVM: Earn fixed yield on Ethena assets directly within Pendle on HyperEVM, with sUSDe (25 Sep '25) offering a significant 30x Sats multiplier.
- Merkl Reward Distributions: For those participating in Liquid Leverage, Merkl has been actively distributing rewards for eligible interactions, with distributions expected to become regular.
- Pendle PTs on Euler: New Ethena Pendle PTs are now live on Euler, offering more avenues to lend or utilize your assets.
Key Events for Airdrop Hunters
| Event / Opportunity | Details | Links |
|---|---|---|
| ENA Season 4 Hint | A prominent retweet indicated ENA Szn 4 is being discussed. While not official, it's a strong signal to stay active. | @alpha_pls RT |
| Liquid Leverage Launch on Aave (and others) | Deposit 50% sUSDe & 50% USDe to earn promotional rewards and new points. | Liquid Leverage Intro |
| 5x Ethena Rewards Rate & YT Points | Reward rate for USDe on most money market integrations will be adjusted to 5x. Users looping sUSDe and USDe/eUSDe PTs will earn points on YTs. This is a direct points accumulation method. | Reward Rate & YT Points |
| 20% APY on TON DeFi | Earn boosted APY by holding tsUSDe in TON wallets and engaging with DeFi protocols. | Ethena on TON DeFi |
| Pendle Integration on HyperEVM (30x Sats) | New sUSDe (25 Sep '25) PTs offering 30x Sats for fixed yield. | Pendle on HyperEVM |
| Merkl Reward Distributions | Ongoing and regular reward distributions for eligible Liquid Leverage interactions. | Merkl Distributions Update |
Keep an eye on Ethena's official channels for further announcements, especially regarding the potential ENA Season 4. Engage with these new earning strategies and point-generating opportunities to maximize your chances for future rewards!
