Ethena makes a strong entry into the Plasma Mainnet: USDe/sUSDe becomes the new Layer 1 core asset, Aave opens a $1 billion lending market.

Ethena Labs launched its core synthetic asset USDe and the staked yield version sUSDe on September 25, the first day of the Beta version of the Plasma Layer 1 Mainnet. This strategic deployment makes USDe the core anchor asset of the Plasma Decentralized Finance (DeFi) ecosystem. At the same time of the launch, Aave immediately opened a Liquid Leverage market supported by mainstream CEX liquidity with a deposit capacity of $1 billion ($500 million USDe and $450 million sUSDe). As the supply of USDe approaches $14 billion, becoming the third-largest stablecoin, Ethena's rapid cross-chain expansion and Plasma's "stablecoin-native" positioning form a strong alliance, jointly driving early adoption and growth of the new network.

Key Asset Integration of Ethena: Launching in Sync with Plasma

Ethena Labs launched the Beta version of its Mainnet for the new public chain Plasma (which has over 2 billion USD in stablecoin liquidity and more than 100 integrated projects) while simultaneously completing the deployment of its two major assets.

· Launched Assets: USDe (USD synthetic asset) and sUSDe (staking yield version).

· Day one integration: USDe and sUSDe were launched on multiple key DeFi platforms such as Aave, Curve, Balancer, and Fluid on the first day. The highly anticipated yield aggregation protocol Pendle will also be launched soon.

· Cross-chain bridging: Users can bridge assets through the Plasma user interface (UI) and StarGate Finance.

Aave Market Open: Liquid Leverage and Ethena Points Incentives

The launch of Aave on Plasma is a major highlight of this integration, providing users with strong liquidity and yield potential through the introduction of the innovative Liquid Leverage market.

· Liquid Leverage Market: Aave has introduced the Liquid Leverage Market for USDe and sUSDe, with a total deposit capacity of up to 1 billion USD (500 million USDe, 450 million sUSDe).

· Liquidity Source: These liquidity pools will benefit from USDT liquidity injected by mainstream CEX.

· Incentive mechanism: Deposits of USDe and sUSDe on Aave will earn Ethena Points. In addition, rewards generated from leverage strategies can be claimed through Merkl.

Ethena's Rapid Expansion and Plasma's Unique Position

The deployment of Ethena on Plasma is a continuation of its recent rapid cross-chain expansion strategy, further solidifying USDe's position as the third largest stablecoin in the industry.

· Supply approaching 14 billion USD: As Ethena raised 530 million USD through Stablecoin X and launched MegaUSD and MegaETH, the total supply of USDe has approached 14 billion USD, making it the third largest stablecoin, only behind USDT and USDC.

· Multi-network integration: Earlier this month, USDe and sUSDe have launched on Avalanche and provided AVAX rewards, and have been integrated into the Optimism Superchain through OVaults.

The positioning of Plasma Layer 1 is clear and unique, with the goal of becoming a stablecoin-native public chain, featuring sub-second finality and Bitcoin-backed DeFi, committed to providing a secure and efficient DeFi environment. Plasma is supported by well-known institutions and individuals such as Bitfinex, Bybit, Paolo Ardoino, and Peter Thiel, with a fully diluted valuation (FDV) of its native token reaching $10 billion, demonstrating strong market confidence and background.

The core asset of Ethena, embedded in key locations on Plasma, along with the upcoming Pendle yield products, is serving as a core anchor to drive early adoption and liquidity rise in the new network.

Conclusion

Ethena Labs integrated its trillion-level important assets USDe and sUSDe on the first day of the Plasma Mainnet launch, marking a textbook strategic collaboration. This action not only injected core DeFi Liquidity into Plasma, establishing its market positioning as a "stablecoin native Layer 1," but also enabled Ethena itself to achieve rapid and large-scale cross-chain expansion. With USDe obtaining a $1 billion deposit capacity in major DeFi protocols (such as Aave), coupled with incentives from Ethena Points and leveraged yields, this integration is expected to attract a large number of users and capital in a short time, making USDe and Plasma a force of growth that cannot be ignored in the crypto market.

Disclaimer: This article is for news information only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make cautious decisions.