About Ethena

Ethena develops derivative infrastructure to create a yield-bearing stablecoin, sUSDe, on the Ethereum blockchain. This solution addresses the lack of crypto-native stablecoins that provide consistent returns, offering users an annual percentage yield (APY) of 29% backed by a total value locked (TVL) of $4.82 billion.

```xml <problem> The cryptocurrency market lacks stablecoins that offer consistent, crypto-native yields, hindering broader adoption and providing limited options for users seeking returns on their digital assets. Existing stablecoins often rely on traditional financial infrastructure or lack transparency in their yield generation mechanisms. </problem> <solution> Ethena Labs is developing a synthetic dollar protocol on Ethereum that aims to provide a crypto-native, yield-bearing stablecoin called sUSDe. This stablecoin offers users a consistent annual percentage yield (APY) derived from staking and delta-neutral hedging strategies on cryptocurrency derivatives exchanges. By leveraging these strategies, Ethena seeks to create a more transparent and sustainable yield source compared to traditional stablecoin models. The protocol aims to address the limitations of existing stablecoins by offering a decentralized and scalable solution for generating returns within the crypto ecosystem. </solution> <features> - sUSDe: A synthetic dollar stablecoin pegged to the US dollar. - Yield Generation: APY derived from staking and delta-neutral hedging strategies. - Ethereum Blockchain: Built on the Ethereum blockchain for transparency and decentralization. - Crypto-Native: Designed to be fully integrated within the cryptocurrency ecosystem. </features> <target_audience> The primary target audience includes cryptocurrency users, DeFi participants, and institutional investors seeking a stablecoin that offers consistent, crypto-native yields. </target_audience> ```

What does Ethena do?

Where is Ethena located?

Ethena is based in Lisbon, Portugal.

When was Ethena founded?

Ethena was founded in 2023.

How much funding has Ethena raised?

Ethena has raised 27130000.

Location

Lisbon, Portugal

Founded

2023

Funding

27130000

Employees

17 employees

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Ethena

Score: 100/100

AI-Generated Company Overview (experimental) – could contain errors

Executive Summary

ethena.fi 2K+

Crunchbase

Founded 2023 – Lisbon, Portugal

Funding

Estimated Funding

$27.1M+

Team (15+)

Elliot Wood

Web3 Frontend Engineer

Company Description

Problem

The cryptocurrency market lacks stablecoins that offer consistent, crypto-native yields, hindering broader adoption and providing limited options for users seeking returns on their digital assets. Existing stablecoins often rely on traditional financial infrastructure or lack transparency in their yield generation mechanisms.

Solution

Ethena Labs is developing a synthetic dollar protocol on Ethereum that aims to provide a crypto-native, yield-bearing stablecoin called sUSDe. This stablecoin offers users a consistent annual percentage yield (APY) derived from staking and delta-neutral hedging strategies on cryptocurrency derivatives exchanges. By leveraging these strategies, Ethena seeks to create a more transparent and sustainable yield source compared to traditional stablecoin models. The protocol aims to address the limitations of existing stablecoins by offering a decentralized and scalable solution for generating returns within the crypto ecosystem.

Features

sUSDe: A synthetic dollar stablecoin pegged to the US dollar.

Yield Generation: APY derived from staking and delta-neutral hedging strategies.

Ethereum Blockchain: Built on the Ethereum blockchain for transparency and decentralization.

Crypto-Native: Designed to be fully integrated within the cryptocurrency ecosystem.

Target Audience

The primary target audience includes cryptocurrency users, DeFi participants, and institutional investors seeking a stablecoin that offers consistent, crypto-native yields.