TechFlow News, February 26 — According to an official announcement, Ethena Labs has announced a strategic deployment on MoveVM-based chains, starting with Aptos, to support Echelon, one of the largest projects in the Aptos ecosystem. As per the announcement, sENA holders will receive an allocation of 5% of Echelon’s total token supply effective immediately.
Echelon is a leading lending protocol and application chain within the MoveVM ecosystem, currently boasting over $125 million in total value locked (TVL), built across networks including Aptos, Movement, and Initia. Ethena Labs stated that sENA will begin accruing Echelon rewards in the form of points. Locked sENA will not only be eligible for additional rewards from Echelon but also earn yields from other reward categories.
As part of this collaboration, USDe and sUSDe will be strategically deployed into the Aptos ecosystem, with initial focus on sUSDe. Through integrations with Echelon and Aptos DEX Thala Labs, sUSDe will begin serving as a core savings asset within the Aptos ecosystem. Users can bridge USDe and sUSDe to Aptos via Stargate Finance.
