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Ethena
Tier A

Ethena

Expected Gains
★★★☆☆
Time Required
25 min
Quest Nature
Mainnet
Funding Info
$20,500,000
Category:
DeFi
WebsiteTwitter
80
Airdrop Score
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Project Overview

Ethena is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, designed to provide a crypto-native, yield-bearing stablecoin called USDe. This synthetic dollar is backed by a combination of Ethereum staking rewards and delta-hedging derivatives positions, ensuring stability without reliance on traditional banking systems.

Guide

To be eligible for the Ethena Season 3 airdrop campaign, users must follow these criteria:

Wallet Setup: Ensure you have a wallet compatible with the Ethereum blockchain, such as MetaMask, Trust Wallet, or Ledger, and that it contains enough ETH to cover gas fees.

Participation Methods: Accumulate points by:

Holding USDe: USDe held in applications like Morpho, Aave, Pendle, or Curve LP receives a 20x reward.

Staking sUSDe: sUSDe held in similar applications receives a 5x reward.

Liquidity Provision: Participate in lending or LP activities through platforms like Pendle. Purchase YT USDe or PT USDe on Pendle to maximize Sats earnings. Note that YT USDe will have zero value at maturity but farms Sats quickly.

sENA Mechanism: Use the sENA token, which offers a maximum 40x reward and allows liquidity retention.

Bonus for Previous Participants: Users who participated in the first or second season receive a 10% bonus on their points for Season 3.

USDe Balance: Maintain your USDe balance above the snapshot level taken on September 1, 2024, to avoid points reduction.

Claiming Tokens: Users have 30 days to claim unclaimed ENA tokens after the allocation is made.

Tutorial Videos

Part 1

Part 1