December 16, 2025

Ethena offers 27% on stablecoins but where is the yield coming from?

The launch of so-called ‘synthetic dollar’ Ethena (USDe) took place on Monday, alongside a heavily-shilled points programme, labelled as a ‘Shard Campaign.’So far, over $300 million has been deposited into Ethena, which promises an internet bond with a …

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