Blog

Ethena Labs has been making waves in the DeFi house, particularly with their Shard Campaign shaking issues up. Ethena Labs began the Shard Campaign to get extra folks concerned and enhance their platform’s stability and development. The thought was easy: reward customers for contributing to the platform’s liquidity, making it extra sturdy and environment friendly.

What Happened in Epoch 1?

Epoch 1 was all about getting customers so as to add liquidity to particular swimming pools and inspiring them to carry onto Ethena’s forex, USDe. The response was large! In simply 5 days, USDe grew to over $440 million, with $100 million added to those swimming pools. Some swimming pools even hit their max of $15 million in lower than half an hour. This success was tracked utilizing varied on-line dashboards, giving everybody a transparent view of the affect.

Dune Dashboards:

1. hildobby
2. hodlduck
3. noxiousq

Even although Epoch 1 was deliberate to final two weeks, Ethena Labs determined to not wait and moved on to Epoch 2 sooner. This exhibits they’re eager on preserving the momentum going and never slowing down to stay to a schedule.

Ethena Labs Enters Epoch 2

Starting February twenty sixth, Epoch 2 brings new methods to take part and earn rewards. Here’s what’s new:

1. More Room for Liquidity: They’ve elevated the limits for sure swimming pools and added a brand new one in partnership with Maker and Aave. If you add your funds to those swimming pools, you possibly can earn 20 shards every day for every token. But, for one particular pool, you’ll must deposit in a sure strategy to be eligible for shards.
2. Doubling Down on USDe Locks: The most quantity of USDe you possibly can lock (and earn rewards on) has been raised from $100 million to $200 million. This means extra alternatives to earn 10 shards each day for every USDe you lock.
3. Teaming Up with Pendle Finance: This is a brand new twist. You can now deposit USDe into Pendle Finance as much as a selected restrict and earn shards. Once that restrict is reached, they’ll open up new choices. More particulars will come out quickly, straight from Ethena Labs and Pendle Finance.

What’s the Big Deal?

Epoch 2 isn’t simply one other part; it’s Ethena Labs’ manner of doubling down on their dedication to creating their platform higher and extra rewarding for customers. By increasing the methods you possibly can earn rewards and partnering with different huge names in the DeFi house, they’re ensuring there’s one thing for everybody.

So, as we step into Epoch 2, it’s clear that Ethena Labs is all about pushing ahead, exploring new prospects, and ensuring their group is true there with them, benefiting each step of the manner.

✓ Share:

CoinGape contains an skilled crew of native content material writers and editors working spherical the clock to cowl information globally and current information as a reality quite than an opinion. CoinGape writers and reporters contributed to this text.

The offered content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.