USDe, the stablecoin of Ethena Labs, has been deployed on the Hyperliquid exchange and HyperEVM blockchain, offering opportunities for rewards and DeFi integration.
Ethena Labs has made significant progress in its ecosystem expansion strategy by officially deploying the USDe stablecoin on the decentralized exchange Hyperliquid and the HyperEVM blockchain. This move not only broadens the application range of USDe but also brings many new opportunities for users to optimize profits from digital assets.
Optimize profits through rewards and DeFi integration
According to the announcement, Hypercore users holding a minimum of 100 USDe will automatically receive daily rewards through the Merkl platform. This reward is calculated based on the average balance over 24 hours, providing an incentive to maintain assets on the platform.
USDe is positioned as an alternative asset to the USD with the potential for profitability and scalability, serving both spot trading and decentralized finance activities. Users can purchase USDe directly through the order book on Hypercore or transfer to HyperEVM via the bridge provided by LayerZero with the integration of Stargate Finance.
Ethena Labs has also implemented the 'EVM <> Core Transfer' function, allowing users to perform USDe swaps between Hypercore and HyperEVM directly on the Hyperliquid platform. Although USDe is fully interchangeable between the two systems, current liquidity is primarily concentrated on Hypercore.
Strategic partnerships with projects like Hyperunit will expand the utility of USDe, allowing users to use this asset as collateral to borrow BTC, ETH, and SOL on platforms like Euler Finance and Felix Protocol. Additionally, holders of USDe or its staking version sUSDe can pair with feUSD on Curve Finance to earn additional rewards, including a 30x multiplier from Ethena's incentive program.
The next development roadmap of Ethena Labs for USDe includes expanding cross-chain interoperability through the LayerZero bridge, developing fixed-interest products with Pendle, and deploying advanced automated market-making models (advanced AMMs) with Valantis Labs. On the Hyperliquid side, this project also plans to implement accumulation incentive programs on the Pvp.trade platform.
The deployment of USDe in the Hyperliquid ecosystem turns this stablecoin into a core asset in the developing ecosystem, combining profitability with cross-chain interoperability. By combining spot trading incentives with cross-chain DeFi applications, USDe aims to enhance capital efficiency for users while strengthening Hyperliquid's role as a derivatives trading and decentralized liquidity hub in the decentralized finance space.
