Ethena protocol
Overview
Ethena is a DeFi protocol that issues a synthetic dollar stablecoin called USDe. The stablecoin is kept delta-neutral by pairing crypto collateral (staked ETH, plus BTC and stablecoins) with short positions in perpetual futures to offset price volatility. Ethena aims to create a censorship-resistant, scalable stablecoin without relying on traditional banking infrastructure.
Within the DeFi Intel graph, Ethena connects to 44 tracked entities, most strongly to Aave, Pendle, Ethena USDe.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 5 of 44 total).
| Relation | Connected entity | Confidence |
|---|---|---|
partnered_with | Aave | 95% |
partnered_with | Pendle | 95% |
issues | Ethena USDe | 95% |
issues | Staked USDe | 95% |
launched | Converge | 95% |
In-depth guides on Ethena
Frequently asked questions
What is Ethena?
Ethena is a DeFi protocol that issues a synthetic dollar stablecoin called USDe, backed by staked Ethereum and hedged against price volatility using short positions in ETH perpetual futures.
What stablecoin does Ethena issue?
Ethena issues a synthetic dollar stablecoin called USDe.
How does Ethena aim to differentiate its stablecoin?
Ethena aims to create a censorship-resistant, scalable stablecoin without relying on traditional banking infrastructure.
Sources
Live news feed, full graph, and search.