As the airdrop frenzy subsides, stable returns rise. I previously reminded you to closely monitor the developments of Ethena's expansion, as USDe supports new blockchains and will inevitably come with several months of incentive rewards.
The day before yesterday (5/30), Ethena launched tsUSDe on the TON blockchain, with a staking return of about 8% for sUSDe + 10% TON incentives = 18%. If you trust Ethena and TON (Telegram), you might as well enjoy high-interest returns.
How to obtain an 18% annualized return?
By staking USDe into tsUSDe, you can earn the 8% of sUSDe itself, which will directly reflect in the appreciation of tsUSDe's value.
Additionally, to qualify for the 10% TON token returns, you need to hold 10 $TON (currently priced around 31U) in TON Space.
* Remember to enable TON ID verification of assets in TON Space. After minting the Ethena badge, you can unlock an additional 10% return, as shown in the diagram below.
How to transfer assets to TON Space?
1. Withdraw USDe to TON Space through a centralized exchange
(Some exchanges support zero-fee withdrawals of USDe to the TON chain)
2. Withdraw USDT to TON Space through a centralized exchange, then exchange it for USDe
(More exchanges support withdrawing USDT to the TON chain)
3. Bridge USDe to TON Space through the Stargate cross-chain bridge
(Directly bridge assets on-chain wallet)
Notes
tsUSDe has a seven-day unlock period for unstaking
An additional 10% incentive return is limited to a quota of 10,000 tsUSDe (approximately 12,000 USDe)
The activity lasts for 16 weeks (5/30-9/19), and 10% incentive returns in TON tokens are distributed to wallets every seven days.
Additional incentive returns decrease over time, as shown in the diagram below.
How to obtain Ethena airdrop points?
Holding USDe on the TON chain also allows you to earn Ethena's own airdrop points.
Path: Ethena official website - Click on "Rewards" - Click on "Delegation" - Link wallet to complete delegation
Summary
An 18% return completely overshadows the returns of other stablecoins. Even the 13% return in the last week is significantly better than most stablecoin return opportunities. This is why I repeatedly emphasize the need to pay attention to the dynamics of Ethena's expansion to new chains.
The activity lasts for 16 weeks until mid-September, during which Ethena is expected to gradually launch new expansions and new incentive earnings. If you want to continue earning high-interest returns through stablecoin positions, Ethena is still worth paying attention to. Of course, I will continue to share relevant information. (The upcoming official launch of Ethereal and Converge is expected to bring a new wave of incentive strategies)
Any investment carries risks. If you trust Ethena (USDe) and its partners (TON blockchain), proceed with the above operations.
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※ Ethena code:
eu54u
※ Ethereal code:
R7AH81
Direct URL placed in the top comment
※ The above content does not constitute investment advice. Users should operate according to their own risk tolerance. DYOR and participate in the investment market cautiously.
※ The attached image is sourced from TON, Ethena