susde

Ethena officially announced that the LayerZero cross-chain bridge functionality for sUSDe and USDe has been relaunched on all chains. To enhance security, Ethena has upgraded the decentralized verification network (DVN) configuration on each chain from 2/2 to 4/4, while maintaining the existing rate limit of $10 million per hour. The official statement indicated that further updates will be provided as necessary.

Ethena announced that the unbonding cooldown period for sUSDe will change to a dynamic mechanism, linked to the amount of liquid stablecoins in the USDe reserves. This means that the current unbonding period for sUSDe, which has been a fixed 7 days since the project launched, will be adjusted to just 1 day. In the future, the cooldown period will dynamically vary between 1 day and 7 days based on the composition of liquid assets in the USDe reserves.

According to ChainCatcher news, as reported by CoinDesk, Sentora Research reports that nearly $1 billion in DeFi positions involving Ethena staking's USDe (sUSDe) are at risk following the cryptocurrency market crash.The crash has led to a significant drop in DeFi market interest rates, with leveraged strategies such as sUSDe circular trading seeing reduced returns. In the Aave v3 core version, the borrowing rates for USDT/USDC are approximately 2% and 1.5% higher than the returns on sUSDe, respectively. Users borrowing stablecoins to leverage long positions on sUSDe are experiencing negative returns, and circular positions borrowing stablecoins to buy sUSDe are beginning to incur losses.If this situation persists, approximately $1 billion in positions exposed to negative interest rate spreads in the Aave v3 core version may be liquidated. Negative interest rate spreads could force collateral liquidation or deleveraging, weakening liquidity in trading venues and triggering a chain reaction. Sentora warns traders to pay attention to the interest rate spread between Aave's borrowing annualized yield and sUSDe returns, especially when it remains negative, as well as the utilization rates of USDT and USDC lending pools. Currently, an increasing number of circular positions are nearing liquidation. In the future, traders should monitor the surge in utilization rates of USDT and USDC lending pools, which may drive up borrowing costs and exacerbate market pressure when the interest rate spread is negative.

ChainCatcher news, Ethena Labs announced on social media that the PT tokens of USDe and sUSDe have been launched on the Aave Plasma platform, with a supply limit of $200 million for each token.Given that the borrowing rate for USDT remains around 4%, Plasma has now become the best on-chain venue for users to obtain leveraged PT positions through Aave. Multiple rounds of limit increases are expected in the near future.

ChainCatcher message, Ethena Labs announced that USDe and sUSDe have been officially deployed on the BNB Chain, launching Pendle, PancakeSwap, and Venus Protocol. Users can use Ethena assets for swapping, lending, and saving on the BNB Chain.

ChainCatcher message, Ethena Labs announced on X that the direct allocation of USDe and sUSDe has been approved and will be integrated into the Spark Liquidity Layer, with a total allocation of up to $1.1 billion in the short term.Incorporating Ethena into the Spark Liquidity Layer will allow Spark to directly receive Ethena rewards without going through lending. This proposal will enhance Spark's support to deploy USDC reserves directly into USDe and sUSDe using the Ethena Minting contract.

ChainCatcher news, BitMEX co-founder Arthur Hayes stated on social media, "If a DeFi protocol has not integrated USDe or sUSDe, it is indeed not doing enough."

ChainCatcher message, Ethena Labs announced on platform X that USDe and sUSDe have been launched on Swell.It is reported that Swell has invested a significant portion of its full-chain incentives into Ethena assets and has committed to using most of the sequencer profits to accumulate the liquidity owned by the sUSDe protocol.

ChainCatcher news, Ethena posted on platform X stating that the current issuance of Ethena USDe has risen to 4.1 billion, and the sUSDe APY has increased to 29%.

ChainCatcher message, trader Eugene stated on platform X that after an increase of 1.2 billion in circulation over the past 6 weeks, the current circulation of USDe is 3.7 billion. Over the past 6 weeks, the yield of sUSDe has ranged from 10% to 25%, and Deribit has accepted USDe as collateral for stablecoins. Ethena's fee conversion proposal has also been approved, ensuring that sENA holders are the primary beneficiaries of the protocol's success. These developments have exceeded expectations for ENA from 2 months ago, leading to a higher target price adjustment for ENA.

ChainCatcher news, according to the Snapshot governance page, the Aave community has initiated a proposal to vote on "adding sUSDe, USDe, and weETH to Aave v3 on ZKsync." The voting will end on October 8.

ChainCatcher news reports that the decentralized finance protocol Penpie has been hacked, with total losses reaching 27.3 million dollars, according to monitoring by Lookonchain. Based on on-chain data analysis, the stolen assets include:2,695 rswETH, worth approximately 6.62 million dollars;4,101 agETH, worth approximately 10.17 million dollars;2,723 wstETH, worth approximately 7.77 million dollars;2.52 million sUSDe, worth approximately 2.77 million dollars;The attacker subsequently exchanged all the stolen assets for 11,109 ETH, with a total value of approximately 27 million dollars. Notably, the hacker has deposited 1,000 ETH (approximately 2.34 million dollars) into the anonymous mixing protocol Tornado Cash.

ChainCatcher message, Pendle stated on platform X that the sUSDe deposit limit of Ethena Labs has been raised to 400 million dollars in July 2024, and the current data for this metric has reached 371 million dollars.

ChainCatcher message, the re-staking protocol Symbiotic stated on social platforms that sUSDe has reached its staking limit. ENA can still be staked, and the limit will increase over time. As the protocol initially expands, more assets will be added.

ChainCatcher news, according to official news from Maverick Protocol, the Maverick v2 ecosystem has now completed integration with Ethena Labs. USDe and sUSDe holders will be able to provide liquidity with higher capital efficiency on Maverick in the future, along with MAV issuance and additional Shards.

ChainCatcher news, according to analysis by Shield, the fundamental reason for the $19.4 million loss of UwU Lend today due to a hacker attack is a price oracle issue.Specifically, the pricing of the sUSDe asset comes from the median of multiple sources. Among them, five, namely FRAXUSDe, USDeUSDC, USDeDAI, USDecrvUSD, and GHOUSDe, were manipulated during the hacker attack.

ChainCatcher message, BounceBit announced a partnership with Ethena Labs, where staking BBUSD can earn sUSDe yield rewards.In addition to the native sUSDE yield, there will also be 5 times Sats/day and BB rewards.

ChainCatcher message, Maker stated on social media that 50 million DAI has been allocated from the Spark MetaMorpho DAI vault to the sUSDe/DAI 86% LLTV vault.It is reported that this update has raised the debt ceiling of the Spark Morpho Direct Deposit Module (DDM) to a historic high of 450 million DAI.Currently, this core vault engine contributes approximately 49 million dollars in annualized revenue to the Maker protocol.