TechFlow news — Ethena Labs has announced two major updates:
- Users can now deposit $ENA into Pendle Finance to earn 30x daily rewards, with a cap of $100 million.
- The $ENA lockup has nearly reached $200 million, and the cap has been immediately increased to $300 million.
The unique feature of this pool is that YT buyers not only receive 30x higher rewards than USDe, but can also use YT to satisfy at least 50% of the $ENA vs USDe requirement.
In addition, the Ethena protocol today released its first proof of reserves to further enhance protocol transparency. The document summary is as follows:
- USDe supply: $2.358 billion;
- Backed assets per certificate: $2.365 billion;
- Reserve fund: $32.7 million;
Total backing amounts to 101.65% of the USDe supply.
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