Ethena has concluded Season 2, during which USDe supply nearly doubled to 3.0 billion, making it the fastest USD-pegged asset to reach this milestone. The protocol generated over $105M in revenue, distributed 54M USDe in staking rewards, and expanded to multiple chains and DeFi platforms, including Solana, Base, and Aave. Rewards for Season 2, amounts to 5% of total ENA supply. A snapshot on September 1st determines allocations based on users’ 30-day average USDe balance. Ethena introduces sENA, a liquid staking receipt token replacing locked ENA. Top wallets are subject to a 50% vesting period over six months, and unclaimed or forfeited ENA will be redistributed to sENA pools.

Network

Ethereum