Stablecoin Protocol Ethena Integrates with Exchange Wallets

On April 10, Ethena Labs announced that their synthetic stablecoin protocol has now been integrated with centralized exchange wallets such as Binance, Bybit, OKX, and Bitget.

This means that users who lock their USDe stablecoins on these exchange Web3 wallets for at least 7 days will receive a 20% reward boost.

These incentives will be issued in the form of “Ethena sats” and can be converted to the protocol’s native token, ENA, at the end of each campaign.

To earn sats, users must first deposit their Ethena USDe stablecoins into their exchange wallets, connect to the Ethena decentralized finance (DeFi) protocol, and stake their holdings.

According to Ethena developers, the protocol currently has a total value locked of $2.274 billion and generates an annualized revenue of $178 million.