DamienDP

Web3 and Finance

[G | Ethena @gdog97_]

Almost +$1b in USDe in ~3 weeks.
Would be a shame if ran it all the way back.

[Conor Ryder @ConorRyder]

Side by side @EthenaPay and @Plasma for the same €16.80 transaction:

Ethena Pay: $19.72 charge, $0.88 cashback = net cost $18.84

Plasma: $19.90 charge, $0.39 cashback = net cost $19.51

[DamienDP @d_deponte8]

You only need one app - @EthenaPay

[The Block @TheBlockCo]

Inside Ethena's new neobank built on AVAX

@EthenaPay is live — a consumer neobank from the dollar issuer itself, not a card wrapper on someone else's stablecoin. Exclusively on @avax.

@gdog97_ and @JohnNahas84 on Layer One with @imyoungsparks:

OUTLINE
00:00 Open
02:10 EthenaPay Overview
03:10 Save, Send, Spend
06:25 Why Avalanche
09:04 Direct to Consumer
13:20 Invisible Adoption
18:00 No Ethena chain
21:02 C-chain today
24:54 EthenaPay versus other crypto neobanks
27:46 Embedded finance
36:06 RWA perps
39:18 Black Opal
42:00 Buybacks, Labs IP
43:33 Close

[G | Ethena @gdog97_]

Excited to share what we've been working on for a while in stealth with our new neobank mobile experience built on Ethena's existing product set.

This is one of the few product categories that have emerged in the last couple of years that I think has a genuine chance of breaking out of the crypto native user set to hundreds of millions of people.

While some of the existing neobanking products today are impressive, and I personally use a few of them daily, we think the addressable market here is the hundreds of millions of users not already operating onchain which haven't been served yet.

Rebuilding the mobile banking product experience on stablecoin and blockchain rails simply produces a better product experience for users with near instant and zero cost transfers and settlements, higher savings rates leveraging DeFi financial primitives and importantly these products can be global by default almost immediately.

Ethena sits in a unique position as the first scaled dollar issuer vertically integrated with the consumer application experience. If you don't own the yield engine and stablecoin issuance, you are at a structural disadvantage from a revenue perspective to provide the most competitive offering across the entire product suite.

For Ethena, being able to build the direction relationship with end users for our existing savings products, rather than just via exchange and fintech integrations, let's us control the destiny of our distribution channels in a better way than we have to date. We think the neobanking app form factor is the best way to achieve this.

90% of financial services for most normal people is just send, save and spend. We hope Ethena Pay will be the best place for you to do this.

[Ethena Pay @EthenaPay]

Visit the Ethena Pay website for more information:

https://t.co/Dtfn35BZmg

[Ethena Pay @EthenaPay]

Introducing Ethena Pay: the internet money neobank, built on @avax.

Live now to download on iOS.

[Ethena @ethena]

Ethena and @coinbase have partnered to grow onchain finance and savings products for their 100m+ userbase, with the first growth initiative launching next week.

Alongside this partnership Coinbase Ventures have also made their first investment into Ethena on the open market.

[Ethena @ethena]

Out of an abundance of caution we are temporarily pausing our LayerZero OFT bridges from Ethereum mainnet until the root cause of the rsETH incident has been identified.

We expect the pause to last ~6 hours and will provide updates on this temporary pause as we receive them.

To reiterate, we can confirm Ethena has no exposure to rsETH, and remains >101.0% overcollatereralised.

Proof of reserves are typically provided on a weekly basis but we will be providing a refreshed version in the next few hours given the existing circumstances.

[Artem Oak @Artem_Oak]

This is what differentiates a great team from a good one

Ever since I started looking into Ethena, every market move, every narrative, every criticism have been addressed in the best way through transparency and proactive actions

The team behind Ethena is *I believe* the best team in the crypto industry at the moment and I will continue supporting them because of their dedication and professionalism

I'm glad we have this type of actors in our space and I believe they've set the bar quite high for anyone building in the ecosystem

Another Ethena W

[Ethena @ethena]

We are excited to announce one of our most important integrations to date

Ethena has partnered with Binance to embed USDe across its entire platform of 280m+ users and $190b+ in assets including:

• USDe reward bearing collateral for futures and perpetuals trading
• Direct integration with Binance Earn
• USDe spot pairs

With more to come in the following weeks

Details below:

[Ethena @ethena]

dear jeff I wrote you, but you still ain't callin
i left my cell, my pager, and my home phone at the bottom
i sent two USDH proposals back in autumn, you must not've got em
there probably was a problem at the discord or somethin'
sometimes I scribble deployer addresses too sloppy when I jot em

[G | Ethena @gdog97_]

StablecoinX has formed one of the strongest management team and advisory boards of any public vehicle in the market with deep experience across traditional finance and crypto capital markets including:

Rob Hadick, joining as the Chairman of the advisory board, is a current GP of Dragonfly who previously worked at Goldentree Asset Management, Goldman Sachs and PJT Partners (fka Blackstone Advisory). @HadickM

Kyle Samani is joining the advisory board as Managing Partner of Multicoin Capital, an SEC-registered investment advisor that manages several billion in AUM. @KyleSamani

Nic Carter joining on the advisory board as a current GP of Castle Island VC who cofounded the fund following a career at Fidelity Investments as one of the most respected voices in the stablecoin sector. @nic_carter

Joshua Lim joins as a member of the advisory board as well. He is Global Co-Head of Markets at FalconX and was previously Head of Derivatives Trading at Galaxy having started his career trading exotic equity derivatives at Goldman Sachs. @joshua_j_lim

With more to be announced next week.

[José Maria Macedo @ZeMariaMacedo]

https://t.co/4tDF3Vosng

[DamienDP @d_deponte8]

@ZoomerOracle Feel personally attacked @ZoomerOracle

[Ethena @ethena]

everyone wants to know what we'd say if we didn't reach $10b supply

i guess we'll never know

[DamienDP @d_deponte8]

@GabrielDePonte @Beezyrams Saved wages bro

[stablewatch @stablewatchHQ]

Q2 2025 Yield Paid Out: $128M

Top performers:
• @ethena sUSDe – $33.22M
• @SkyEcosystem sUSDS – $27.75M
• @maplefinance SyrupUSDC – $6.68M
For comparison, Yield Paid Out in Q2 2024 was $73.15M marking a 75% year-over-year increase.

[Zach Rosenberg (🥩,🥩) @MeatEsq]

The @SECGov Crypto Task Force graciously hosted @ethena yesterday for a remarkably productive conversation focused on analytical frameworks and regulatory approaches to alternatively-reserved "stable assets," including synthetic dollars like USDe.

https://t.co/i6axDS3dma

[Zach Rosenberg (🥩,🥩) @MeatEsq]

This morning, @ethena submitted a letter to the SEC Crypto Task Force in response to @HesterPeirce "There Must Be Some Way Out of Here" https://t.co/zveTqInWQx. We are grateful to engage with good faith regulators like Commissioner Peirce and the Task Force. 1/