$ENA
Ethena teams up with Aave to make big moves! PT assets invade the lending market, leveraging 5 times to achieve 25% annualized returns! "DeFi enters the hedge fund era!"
Today (May 1), the stablecoin king Ethena Labs has released an update — users can now use eUSDe May Pendle PT as collateral to borrow from Aave, and sUSDe July PT is also about to launch! This operation directly brought Wall Street-level tactics to DeFi's leveraged arbitrage: borrowing USDC at a 4% interest rate to cycle and increase positions, with 5 times leverage directly pushing up a 25% annualized return! What’s even more intense is that the official also doubled the airdrop rewards, causing a collective excitement among both retail investors and whales.
💸 PT assets land on Aave, DeFi opens the "hedge fund mode"
1. eUSDe PT becomes the new hard currency
◦ Collateral rate only 120%: Users can stake their eUSDe May Pendle PT (current APY approximately 17.9%) into Aave to borrow USDC/USDT at a super low interest rate of 4%, cycling to earn the interest differential.
◦ 5 times leverage yields explosive returns: Assuming a principal of 100,000 USDT, collateralizing PT to borrow 400,000 USDT to buy PT, the comprehensive annualized return can reach 25%, which is 10 times more attractive than traditional government bonds!
◦ Institutions are hoarding PT: On-chain data shows that a certain whale has collateralized 37 million eUSDe PT, borrowed 30 million USDT, and transferred it to Ethena’s staking pool, perfectly nesting.
2. sUSDe PT becomes the next battlefield
◦ July-expiring PT ambush: sUSDe staking APY is approximately 9%, combined with PT locked yield of 13.49%, and further through Aave’s circular lending, the total yield easily breaks 20%.
◦ Airdrop Buff stacking: Within the next month, eUSDe/USDe PT deposit rewards will double, and sUSDe PT rewards will be 1 times, attracting yield farmers to cross-chain arbitrage overnight.
3. Pendle becomes the biggest winner
◦ TVL surges by 9% in one day: With the integration news, Pendle's locked amount soared to 1.63 billion, with the eUSDe pool accounting for 124 million, and whales crazily sweeping up YT to earn 50 times points.
◦ "PT Lego" sweeps DeFi: Users can now PT collateralize → borrow → buy PT → then collateralize again, under infinite nesting, Pendle + Ethena + Aave form a perpetual profit machine.