Ethena Labs Boosts USDe Multipliers with New Pendle Pools

• Ethena Labs announces new Pendle pools with increased caps and the highest USDe multipliers.
• Lyra Finance partners with Ethena Labs for leveraged ETH exposure without initial capital risk.

Ethena Labs, a pioneering platform for synthetic dolar, has announced several key improvements in its ecosystem. This includes the launch of additional Pendle pools with higher caps and the biggest USDe multiplier to date for October maturities.

These updates demonstrate Ethena Labs dedication to improving its solutions and responding to consumer needs.

New @pendle_fi pools with increased caps and the highest USDe multipliers to date for October maturities

The PT sUSDe pool will be eligible collateral within the @sparkdotfi and @MorphoLabs innovative new market where users can borrow against fixed rate collateral next week https://t.co/vEF73EHjs5

— Ethena Labs (@ethena_labs) July 18, 2024

Ethena Labs Expands PT sUSDe Market to Meet Growing Demand 

Furthermore, the PT sUSDe pool will soon be eligible as collateral in Spark and Morpho Labs revolutionary new market. Starting next week, users will be able to borrow against fixed-rate collateral, providing investors with greater flexibility and options.

Previously, the Phoenix Labs team recommended introducing a PT sUSDe market to fulfill the huge demand for Ethena tokens in fixed-rate contracts. This expansion will see the current 600 million Ethena allocation supplemented with a new option.

Based on BA Labs recommendations, Pendle’s PT sUSDe collateral has been proposed with specified parameters. The PT matures on October 25, 2024, with an 86% pool LLTV, a 100 million DAI pool supply maximum, and a 25 million DAI beginning allocation.

These precise specs demonstrate Ethena Labs’ careful planning and strategic approach to ensuring the success and stability of its new solutions.

Furthermore, CNF revealed that Lyra Finance has teamed with Ethena Labs to provide ETH exposure through leverage, without the risk of initial cash.

This program attempts to increase consumer ETH exposure while limiting the risks associated with early deposits. This cooperation exemplifies Ethena Labs’ unique approach and commitment to delivering value for its users.

Back in April, Ethena’s token (ENA) had a phenomenal 99% increase, attracting major investor interest. This enormous gain occurred just eight days after the synthetic stablecoin, USDe, was airdropped to holders. This event was a significant milestone for Ethena Labs and demonstrated the high market interest in its coins.

Furthermore, Arthur Hayes, co-founder of BitMEX, believes that ENA is one of the coins with the most long-term bullish prospects.

At the time of writing, ENA is trading at roughly $0.4737, slightly up 0.46%, with a daily trading volume of approximately $99.04 million. This consistent performance demonstrates investor confidence and interest in Ethena Labs offerings.