Unlock your USDe with Ethereal, a next generation decentralized spot and perpetuals DEX, and the first app built natively on the Ethena Network

Decentralization, transparency, and self-custody are core tenets of decentralized finance. Beyond empowering users to transact trustlessly, these characteristics also unlock the potential for new products made possible by onchain composability. This enables builders to integrate interesting products together to create even more interesting products.

USDe is one of the most impactful DeFi products to be created in the past several years because: 1) it gives users access to a decentralized, censorship-resistant, crypto-native synthetic dollar that operates independently of the traditional banking system, 2) it can natively generate best-in-class rewards for holders, and 3) it is easily portable throughout DeFi to unlock downstream use cases.

Ethereal aims to fully utilize the power of USDe within a high performance onchain finance environment to provide users with a one-stop-shop for all their core DeFi needs in a single vertically integrated application. Ethereal V1 represents the first step in this journey, bringing fully-featured spot and perpetuals DEX to the upcoming Ethena Network.

Trading on Ethereal will feel just like trading on leading CEXs  — featuring low latency (sub-20ms) and  ultra-high throughput (~1M orders/sec and ~1k trades/sec), all while enabling users to retain full self-custody of funds. Ethereal V1 will also aim to bootstrap the most liquid onchain trading platform by becoming a leading DEX venue for USDe related hedging flows, which was approved by Ethena governance last month with 99.6% voting in favor.

To further align Ethereal’s vision with Ethena and its community, 15% of any future Ethereal governance token supply has also been allocated to staked ENA (sENA) holders. This program is already live and you can now track your accumulated points balance daily at https://app.ethena.fi/sena. Stay tuned for more updates in the coming weeks as the Ethereal V1 testnet release approaches, followed by a testnet competition and bug bounty.

Stay up to date with the latest news and developments by following us on our socials and joining our awesome community:

Join the waitlist     Mirror     Twitter / X      Discord

Unlock your USDe with Ethereal, a next generation decentralized spot and perpetuals DEX, and the first app built natively on the Ethena Network

Decentralization, transparency, and self-custody are core tenets of decentralized finance. Beyond empowering users to transact trustlessly, these characteristics also unlock the potential for new products made possible by onchain composability. This enables builders to integrate interesting products together to create even more interesting products.

USDe is one of the most impactful DeFi products to be created in the past several years because: 1) it gives users access to a decentralized, censorship-resistant, crypto-native synthetic dollar that operates independently of the traditional banking system, 2) it can natively generate best-in-class rewards for holders, and 3) it is easily portable throughout DeFi to unlock downstream use cases.

Ethereal aims to fully utilize the power of USDe within a high performance onchain finance environment to provide users with a one-stop-shop for all their core DeFi needs in a single vertically integrated application. Ethereal V1 represents the first step in this journey, bringing fully-featured spot and perpetuals DEX to the upcoming Ethena Network.

Trading on Ethereal will feel just like trading on leading CEXs  — featuring low latency (sub-20ms) and  ultra-high throughput (~1M orders/sec and ~1k trades/sec), all while enabling users to retain full self-custody of funds. Ethereal V1 will also aim to bootstrap the most liquid onchain trading platform by becoming a leading DEX venue for USDe related hedging flows, which was approved by Ethena governance last month with 99.6% voting in favor.

To further align Ethereal’s vision with Ethena and its community, 15% of any future Ethereal governance token supply has also been allocated to staked ENA (sENA) holders. This program is already live and you can now track your accumulated points balance daily at https://app.ethena.fi/sena. Stay tuned for more updates in the coming weeks as the Ethereal V1 testnet release approaches, followed by a testnet competition and bug bounty.

Stay up to date with the latest news and developments by following us on our socials and joining our awesome community:

Join the waitlist     Mirror     Twitter / X      Discord