The third protocol of Ethena's Converge ecosystem "Strata" opened the pre-staking feature yesterday (7/23), supporting the staking of USDe (Ethena) and eUSDe (Ethereal), and the ecosystem's synergy seems to have begun.
Unlike Ethereal and Terminal, which can only stake USDe, Strata also supports staking eUSDe, allowing users to simultaneously earn airdrop points from Strata + Ethena + Ethereal.
The reason is that the author believes Ethereal and Terminal belong to the underlying infrastructure (DEXs), striving to attract users' USDe as trading pair liquidity; while Strata is a structured product (Tranche) built on the infrastructure, targeting users who wish to enhance stablecoin yield capacity, conceptually similar to the image below:
Can be understood that the underlying asset USDe acts as liquidity in DEXs, while liquidity proof tokens like eUSDe can be further used in Strata to amplify returns through structured products.
It is not difficult to understand why Strata can support and is expected to support more Converge ecosystem tokens; if nothing unexpected happens, the tUSDe of Terminal will also be supported?
In any case, this kind of synergy represents an opportunity for ordinary users to "eat more with one fish."
Important information
Supported assets: $USDe, $eUSDe, receive pUSDe after staking
Points reward: 30x Strata, 30x Ethena, Ethereal Points
Active users: According to leaderboard information, currently, 605 people are participating in staking
Supported protocols: Pendle, Euler, Morpho
TVL: 18.42M
Since Strata has publicly announced that the pre-staking is expected to end within three months and officially launch its structured products stUSDe, stJLP. It is recommended to pay more attention to the news of Strata listing in the Pendle market, if nothing unexpected happens, there will also be additional incentives like Terminal, seizing the opportunity may have unexpected advantages.
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※Welcome to use the link to participate in Strata, you can get a 10x points boost, leave a top comment
※Ethena code:
eu54u
※Terminal code:
AUXHUOLV
Welcome to use the link to go to Terminal, leave a top comment
※Ethereal code:
R7AH81
Welcome to use the link to go to Ethereal, leave a top comment
※The above content does not constitute investment advice; users should operate according to their own risk tolerance, DYOR and participate cautiously in the investment market.
※Attached image from Strata + self-made image