Ethena
Synthetic dollar with delta-neutral yield
About
Ethena issues USDe, a synthetic dollar backed by delta-neutral hedged crypto positions, and sUSDe, its staked yield-bearing version earning from perp funding and staking. USDe is the largest non-fiat-backed stablecoin (~$5-6B+), and sUSDe is one of the most widely integrated DeFi yield assets across Pendle, Aave, Morpho and Curve. Ethena also backs the Converge institutional chain.
Stablecoins
Key products
Chains
- Founded
- 2023
- HQ
- Remote
- Stage
- Token (ENA)
- Funding
- Raised ~$120M+ (Dragonfly, Maelstrom, Franklin Templeton)
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