The initiative offers an annual profitability of 12% for promoting USDE.
Julio was a good month for the USDE stable, as he had a strong expansion.
Ethena, Protocol of Decentralized Finance (DEFI) known for its Synthetic Stablin USDE, closed an alliance with AAVE, the largest decentralized loan platform in the market, to offer greater yields to users.
The integration of Ethena and Aave occurred through the “Liquid Leverage” product, which allows users to deposit 50% in the native stablecoin of Ethena, USDE, and 50% in its other product, Ethena Staked Usde (its), to obtain combined rewards.
According to him advertisementthe profitability of this operation reaches a 12% annual for the promotion of USDEin addition to the standard loan rate and the native yield of Token its.
The integration between the two projects caused the price of ENA, Ethena cryptocurrency, increased 20% in the last 7 days, from USD 0.45 to the current USD 0.55. This, considering the notability of AAVE, a protocol that already has more than 20,000 million dollars in active loans, as cryptootics reported.
This increase also coincides with the growth of USDEwhich according to a Kairo Research report, record in July its greatest historical expansion. In its most recent analysis, the firm revealed that the total supply of USDE reached a maximum of 7,540 million dollars.
ENA is the Ethena governance token, a protocol that combines elements of decentralized finances with coverage and performance generation mechanisms from synthetic stablcoins. Its ecosystem revolves around USDE, A stablecoin backed by coverage positions in derivative markets.
