Ethena, a stablecoin project by Ethena Labs, has rapidly emerged as a dominant player in the decentralized finance (DeFi) space, generating over $4 million for its treasury in just 1 week after launch. The project's native token, USDe, has seen a yield of 67%, outpacing most stablecoin returns and marking a significant milestone in the crypto industry. Ethena's performance has led it to become the highest-earning decentralized application (dapp) in the crypto sector, with weekly revenue reaching $6.8 million. This achievement places Ethena ahead of established DeFi products like Lido and Uniswap in terms of fees generated over the last 24 hours and ranks it as the third highest revenue app in crypto, trailing only behind Ethereum and Tron. The project's total value locked (TVL) stands at approximately $840M.
High yield opportunities like Ethena are sucking up all the capital, hence Maker spiking rates Quite confident Maker will adapt and thrive nevertheless tho https://t.co/KHbG4b6kdL
If Ethena came to @arbitrum, who wants to incentivise USDe DEX liquidity?
The DeFi milkshake theory is simple: Capital seeks the highest risk adjusted yield. Today, that’s Ethena at 67% As billions in value move to Ethena, projects adapt by integrating USDe or they’ll lose TVL Ethena is inevitable. https://t.co/FtpLTRKENg https://t.co/scr73QL0dZ
Basically Maker is experiencing what Liquity experienced last year except it doesn't have an in-protocol redemption mechanism to prevent de-pegging So their solution is to increase the cost to borrow and the yield to hold DAI https://t.co/Ob4iGWrvQQ
Rapid Growth for #Ethena's $USDE https://t.co/hc72U24tsN
Damn. @ethena_labs is the #3 highest revenue app in crypto behind Ethereum and Tron. And that's on only ~$840M TVL right now. https://t.co/c9lztkJRmR
Ethena's $USDE Yield Hits 67%, Outpacing Most #Stablecoin Returns https://t.co/hc72U24tsN
JUST IN: @ETHENA_LABS BECOMES HIGHEST-EARNING DAPP IN THE INDUSTRY WITH $6.8 MILLION IN WEEKLY REVENUE
Ethena Labs, the stablecoin project behind the USDe token, has bagged over $4 million for its treasury less than two weeks after going live. By @shauryamalwa. https://t.co/gbLAHiMLza
Ethena just became the highest earning dapp in crypto https://t.co/yURmVRtExh
Ethena but on Solana https://t.co/7CJUUHd4Ax
Ethena doing more fees than lido and uniswap over the last 24 hours 🧐 https://t.co/WGySvFC160
Ethena just made $4 MILLION DOLLARS for its treasury in JUST 1 WEEK Tell me, which DeFi product that’s been live for 2 weeks can do that https://t.co/qJQEWJe91K