Allocated assets to Anchorage through Spark to earn 6.5% APY and to Maple Institutional earning 5.4% APY.

Borrowing on Aave includes 11.6% of positions looping USDe as of 2025.

Accounts for 69.1% of Pendle's TVL through USDe and other Ethena-powered assets.

Launched specialized spoke in Aave v4 Hub & Spoke architecture on Ethereum March 30, 2026. Deepened integration with Google, BitGo, and Coinbase throughout Q1 2026.

Paid out $10.22M in yield through sUSDe in the last 30 days, ranking second among yield-bearing stablecoins by actual yield distributed.

Provides sticky liquidity to Avant Protocol, which uses it to generate yields.

Generated $300M in perpetuals funding fees during 2025.

Adding a third oracle to the multi-oracle consensus system this week (March 2026), with architecture supporting up to ten oracles for price feed validation requiring unanimity within 1bp tolerance.

Adding external circuit breakers with independent signer authority alongside existing internal circuit breakers.

Engaging with Hypernative Labs and Range for real-time protocol and infrastructure surveillance capabilities.

Experienced market cap decline as part of overall stablecoin market pullback below $301B

Unlocking 13 million ENA tokens this week

Operates as a hybrid stablecoin combining strategy-backed and reserve-backed mechanics. Shifted USDe backing to T-Bills (88% of collateral) and expands into non-crypto basis trade, RWA perps, and institutional lending with Coinbase, Kraken, Anchorage, HyperliquidX.

Reached $15 million in 24-hour volume on Pendle Strata Ethena Limit Order Incentives.

Integrated with Privy for sUSDe in-wallet yield.

Market share among stablecoins is declining as of March 2026.

Proposed using Maple as a backing asset for USDe stablecoin.

Changes sUSDe unstaking from a fixed 7-day cooldown to a dynamic 1-7 day mechanism tied to USDe reserve liquidity, with the cooldown currently at 1 day.

Growth Lead departed, joined Supernova Labs as investor and advisor.

Onchain financial data is now available on CoinGecko through Token Terminal integration.

Hiring a Financial Associate in Portugal (remote) with salary €50K-€75K and a remote Head of Security.

Featured in Ceazor's daily scroll coverage on March 4, 2026, with Eli5 educational content about Ethena mentioned.

Has not yet activated the fee switch that would distribute protocol revenue to ENA token holders.

Pays approximately 45% of all yield-bearing stablecoin rewards industry-wide as of February 2025.

Unlocked 2.24% (171.88M tokens) on March 5, 2026.

Integrated with Pendle Strata as a yield source in risk-tranching pools, with sUSDe deposits representing $161M of Strata's $171M TVL, and $280M available liquidity at 4.1% implied yield.

Integrated with Reya Network's RLP, powered by USDe/sUSDe, enabling participation in Reya's 16M REYA token trading competition for 100+ RLP holders and dual yield from staking and trading fees.

Integrated stablecoin infrastructure directly into Conduit, a platform with 55% market share in Ethereum rollup deployments, enabling any Conduit-built rollup to deploy a native stablecoin on day one.

Reached peak TVL $15 billion, holds $7 billion TVL and $6.2 billion USDe supply as of February 2025. Grew market cap from $620 million to $6.2 billion (10x increase) over one year.

Generated $666.82 million in fees last year, with $32.32 million becoming direct protocol revenue.

Has 811,000+ active users across 24 blockchains.

Collaborated with DeepBook to integrate suiUSDe (eSui Dollar) as the first synthetic dollar into DeepBook Margin on Sui Network, enabling use across margin trading, lending, and leveraged workflows.

USDe reached $122.6M market cap on Mantle as of Q4 2025, establishing position as the dominant yield-bearing stablecoin in the Mantle ecosystem.

USDe is now tradeable as a perpetual futures pair against USDH on Felix Protocol.

Partners with Ethereal DEX to offer traders earnings and rewards for depositing and trading on its perpetual futures platform.

Ethereal DEX has reached $65 million in TVL, where USDe is supported.

sUSDe yield sits at 3.5%, below sUSDS yield, due to declining crypto perpetual funding rates and T-Bill rates. Ranks as second-largest tokenized fund onchain with $3.52B TVL; USDe circulation reached $2.96B.

New PT-sUSDe-7MAY2026 and PT-USDe-7MAY2026 trading loops launched on Contango paired against different quote assets with liquidity provided by Aave.

USDe adopted LayerZero OFT standard for cross-chain transfers as one of the major OFT-powered assets, contributing to $44 billion in total OFT-bridged assets.

Launched USDtb through Anchorage Digital with BlackRock's BUIDL as the reserve, as the first GENIUS-compliant stablecoin. White label stablecoins (jupUSD, USDm, suiUSDe) reached $131M circulating supply, with Jupiter Exchange's JupUSD backed by USDtb on Solana.

Launched suiUSDe and USDi on Sui Network with officialSUIG on February 12th, 2026, with a $10M yield vault.

Generated $750M+ in cumulative trading volume across ThalaSwap v2 and v3 on Aptos following sUSDe deployment on the chain.

Joined the Enterprise Ethereum Alliance alongside Polygon and Nethermind to collaborate on global settlement, merchant access, and compliant rails for enterprises.

USDe minting and redemption went live on HTX exchange on 2026-02-10.

Receives 7.5% allocation of Based airdrop tokens as part of a community distribution.

PT-srUSDe and PT-USDe markets launched on Lista on BNB Chain.

Provides whitelabel stablecoin infrastructure for JupUSD, MegaUSD (USDM), and other branded stablecoins through Stablecoin-as-a-Service, with MegaETH launching USDm backed by USDtb to subsidize sequencer fees.

Mantle Vault reached approximately $100M AUM in under a month since its late December 2025 launch.

introduces Ethena Exchange Points program

Launched Pendle pools for srUSDe and jrUSDe, maturing June 25, 2026, replacing pools maturing April 2, 2026. Separately, sUSDe, USDe, sENA Pendle markets mature February 5, 2026; USDe and sUSDe pools return to Pendle on Plasma network June 18, 2026, with XPL rewards and Sats.

HTX launched trading rewards program with $10,000 total rewards.

Integrated with Aave V4, featuring a dedicated ecosystem environment with two Spokes supporting sUSDe, USDe, PT-sUSDe, and PT-USDe as collateral; launched PT-srUSDe markets in May 2026, generating $30M additional TVL.