USDe & sUSDe Live on Avalanche
Ethena assets will be usable within major lending & trading DeFi apps on Avalanche, starting from today
Eligible DeFi interactions on Avax will qualify for AVAX rewards & Ethena Poin
Ethena has submitted a USDH proposal to Hyperliquid, supported by Anchorage, Securitize, and Blackrock BUIDL. USDH will be a fully collateralized stablecoin backed by USDtb, the first stablecoin on track to be GENIUS compliant in collaboration with Anchorage.
USDH is one of many things Ethena wants to do on Hyperliquid to grow alignment between Hyperliquid and Ethena, including USDe-margined HIP-3 perps, a new product hUSDe, and growth into the Hyperliquid ecosystem.
https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/vG9tVz8p6Da6vX8CiZ30A0CYM3wIiWlIBX6Zlj0qhQ8
Introducing MegaUSD: USDm, built with MegaETH on the Ethena Stablecoin-as-a-Service stack
MegaUSD will be backed by USDtb, which holds its reserves primarily in Blackrock BUIDL
USDm will operate as MegaETH's native stablecoin, underpinning major native applications
More details
MegaEthena 🐰 😀
Reminder to follow Ethena Eco to stay updated on all things Ethena 😀
Wishing you a great week ahead.
Liquid Leverage on Aave 👻 has grown to ~$2b across USDe & sUSDe deposits.
Eligible Liquid Leverage participants will continue to earn both the Aave USDe lending rate and the USDe rewards on USDe deposited for a total of ~13% APY.
→ More details
USDe utility continues to expand in DeFi 😀
The first Wildcat USDe-based market has gone live today
More details here ✨
USDe leads all stablecoins in $ supply growth over the last month 😀
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Today Ethena has crossed $500m in cumulative gross interest revenue.
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How to redeem:
If you are a USDe token holder you can submit a redemption request by by completing the electronically provided redemption form available at Ethena.fi and Ethena.GmbH You will have to include the following in-formation so we can process your request:
· Your full name, address, email and/or phone number
· Your public blockchain address(es) or wallet account ID where the USDe tokens are held and the number of USDe tokens (including fractional holdings)
· As proof of USDe token ownership, please include either:
a screenshot of your wallet interface showing your USDe balance and the public blockchain ad-dress(es)
or a signed message from the wallet holding your USDe (e.g. "I am submitting a USDe redemp-tion request to Ethena GmbH"), including the public blockchain address and the signature.
or an account statement (PDF / CSV) issued by your custodial provider that shows your USDe balance and clearly identifies your account (e.g. account ID, user name, or client reference).
Your payout public blockchain address – the same address that currently holds the USDe, or
another public blockchain address that belongs to the same wallet / custodial account (same account ID) in which the USDe are stored.
Once your request is received, we will initiate the required identity verification and KYC/AML checks in accordance with applicable anti-money laundering laws. Redemptions can only be processed after these checks have been successfully completed.
Redemption requests can be submitted starting on 25 June 2025 at 12:00 CEST and must be received by 06 August 2025 at 23:59 CET (“Submission Window”). You must provide all necessary KYC/AML information and documentation within the Submission Window. If the information provided is incomplete or additional documentation is required, Ethena will notify you without undue delay, specifying the outstanding items and the deadline for submission of these items. If the Submission Window would expire before the end of this deadline, you will then have up to 5 additional calendar days from the date of notification to provide the miss-ing information. During this extension, your redemption request will remain active. If you fail to submit a redemption request – or to provide the outstanding KYC/AML information – within the Submission Window (including any extension), you may still hold a redemption claim against Ethena GmbH, but will have no direct entitlement to the reserve assets, which will be released after settlement of all redemption claims submit-ted during the Submission Window.
What happens next
Once your redemption claim has been reviewed and approved after a successful KYC/AML process, you will receive a confirmation email from us. This email will include the redemption wallet address to which you must transfer your USDe tokens. Upon confirmation of your USDe token transfer to the designated redemption wallet address, Ethena will execute the USDC payout to your designated payout public blockchain address without undue delay, and in any event no later than 48 hours days after receiving the tokens.. In deviation from Section 7.5 of the USDe Terms and Conditions – EEA and consistent with Art. 39 (3) MiCAR, Ethena will not pass on any execution costs for hedges, except gas fees.
If you have any questions regarding the redemption process, please contact us via email at redemptionqueries@ethena.gmbh
Ethena GmbH
We are pleased to share BaFin and Ethena GmbH have agreed to a redemption plan providing holders the option to redeem USDe if they so wish.
The plan was initiated via BaFin administrative order which concurrently revokes BaFin's previous March 21 2025 order.
BaFin has updated its March 21, 2025 post to this effect: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/weitere/2025/meldung_2025_03_21_Ethena_GmbH_en.html
Upon completion of the plan BaFin will have no outstanding issues related to Ethena GmbH's USDe-related operations, representing an amicable resolution on this matter.
BaFin has released a statement below confirming implementation and closure of the matter following the plan:
https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/weitere/2025/meldung_2025_06_25_Ethena_GmbH_en.html
More information on the redemption plan can be found here:
ethena.gmbh/redemption
https://x.com/ethena_labs/status/1937838381696000031
Ethena goes live within major TON wallets today, and is now directly accessible by Telegram's 1 billion+ users
https://x.com/ethena_labs/status/1928421297392062917
Ethena's sUSDe is now even more accessible from 18 chains
Deposit USDe 😀 from anywhere. Receive sUSDe everywhere.
Read more
Try it ✨
One of our most important integrations to date 📣
Ethena has partnered with Binance to embed USDe 😀 across its entire platform of 280m+ users and $190b+ in assets
All details here
We are excited to continue our support of the Hyperliquid ecosystem via a strategic investment into and partnership with Based.
More details
StablecoinX Inc. has announced an additional $530 million capital raise as part of its $ENA accumulation strategy.
To date, StablecoinX has raised a total of approximately $895M in PIPE financing, which is expected to result in a vehicle with over 3 billion ENA tokens on its balance sheet at closing.
More details 😀
CoinList expanding it’s Earn Program with USDe
More details here. 😀
In case you missed it $USDe 😀 is now on Coinbase Prime.
🔵🔵🔵
USDtb now has a clear path to become the first GENIUS compliant stablecoin in the U.S. with a new partnership with Anchorage
https://x.com/ethena_labs/status/1948367981802909920
We’re excited to announce that users who supply USDtb to Aave, Morpho, Euler, and Fluid will now be able to earn promotional rewards from Merkl in addition to supply APR.
This represents the beginning of a long-term campaign to drive the adoption of USDtb.
https://x.com/ethena_labs/status/1945408219301716233
We're excited to announce the integration of Coinbase International, via Copper ClearLoop, as a hedging venue for the backing assets of USDe
https://x.com/ethena_labs/status/1943304366326452472
Following our announcement yesterday regarding the initiation of the redemption plan for Ethena GmbH, we'd like to provide more detail on the particulars of the plan. The full details can be found below:
Redemption Plan for USDe Token Holders of Ethena GmbH
25 June 2025
On 25 June 2025 at 12:00 CEST, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsfaufsicht – “BaFin”) instructed Ethena GmbH to activate its redemption plan regard-ing the orderly redemption of USDe tokens. This plan was coordinated with BaFin, taking the provisions of Regulation (EU) 2023/1114 (“MiCAR”) as a point of reference. This step follows Ethena GmbH’s decision to withdraw its MiCAR authorisation application as issuer of an asset-referenced token. As a consequence, BaFin adopted a wind-down decision in relation to Ethena GmbH’s regulated activities. Ethena GmbH will now conduct an orderly and transparent redemption process and offer all USDe token holders the opportunity to redeem their tokens in accordance with the terms of the redemption plan agreed with BaFin.
Please Note: The wind-down of Ethena GmbH and the associated redemption plan relate exclusively to the regulated activities of Ethena GmbH. They do not affect the issuance or redemption of USDe by Ethena (BVI) Limited, a separate entity based in the British Virgin Islands. USDe token holders – including those residing or having their registered office in the EU – may continue to submit redemption requests to Ethena (BVI) Limited at any time. It is important to note that the protections afforded under MiCAR do not apply to redemption requests made to Ethena (BVI) Limited. Furthermore, the usability and tradability of USDe re-main unaffected outside of the EEA: token holders are free to transfer or sell their USDe on secondary mar-kets outside of the EEA, provided such tokens are supported by the relevant trading venue.
As of today, dollar holders can earn up to 15% APY via Wallet in Telegram - powered by Ethena
This gives Telegram’s 1 billion users, and TON's ~$750m dollars on chain, direct access to savings functionality
https://x.com/ethena_labs/status/1937480691425677589
USDtb has been onboarded to Aave's Core instance
Aavethena 👻
https://x.com/ethena_labs/status/1921955532476408030
