Ethena’s sUSDe Integration in Aave Enables Billions in Borrowing

• Ethena Labs integrates sUSDe into Aave, enabling billions in stablecoin borrowing and 30% APY exposure.
• Ethena proposes Solana and staking derivatives as USDe-backed assets to boost scalability and collateral diversity.

Ethena Labs has reported a key milestone with the seamless integration of sUSDe into Aave. By means of this integration, sUSDe can act as collateral on the Ethereum mainnet and Lido instance, therefore enabling borrowing billions of stablecoins against sUSDe.

Ethena Labs claims that this breakthrough makes sUSDe a special value in the Aave ecosystem, especially with its outstanding APY of about 30% this week, which is the highest APY stable asset offered as collateral.

Pleased to announce the proposal to integrate sUSDe into @aave has passed successfully 👻👻👻

sUSDe will be added as a collateral in both the main Ethereum and Lido instance, enabling billions of dollars of stablecoins to be borrowed against sUSDe

Details below: pic.twitter.com/ZyA0x0g9me

— Ethena Labs (@ethena_labs) November 15, 2024

Maximizing Borrowing Opportunities With sUSDe Integration 

Aave users can profit from borrowing other stablecoins like USDS and USDC at reasonable rates in addition to seeing the appealing yields thanks to integration. Ethena Labs detailed the suggested integration parameters: liquid E-Mode capability, an LTV of 90%, and a liquidation threshold of 92%.

Especially users who provide sUSDe as collateral on Aave also gain points for Ethena’s Season 3 campaign, with a 10x sats reward scheme, highlighting the platform’s creative way to encourage involvement.

Ethena Labs has suggested supporting assets for USDe, including Solana (SOL) and liquid staking variants, according to CNF. By means of perpetual futures, this calculated action seeks to diversify collateral, boost scalability, and release billions in open interest.

Solana’s integration emphasizes Ethena’s goal to increase USDe’s influence and value inside the decentralized financial network.

Beside that, as we previously reported, Ethereal Exchange has also suggested a joint venture with Ethena to hasten USDe acceptance.

If accepted, this integration would distribute 15% of Ethereal’s token supply to ENA holders. With a capacity of one million transactions per second, the exchange is meant to offer dispersed alternatives to centralized platforms together with self-custody and fast transactions.

Meanwhile, as of writing, Ethena’s native token, ENA, is swapped hands at about $0.5489. Over the last 7 days and last 30 days, the token has seen a notable increase, 6.44% and 38.13%. This strong performance has driven the market cap of ENA past the $1.5 billion mark.