Ethena Labs, a prominent player in the DeFi space, has recently launched its Shard Campaign to enhance the stability and growth of its platform. The campaign aims to incentivize users for contributing to the platform’s liquidity, thereby making it more robust and efficient.
During Epoch 1 of the Shard Campaign, Ethena Labs encouraged users to add liquidity to specific pools and hold onto their currency, USDe. The response was overwhelming, with USDe reaching over $440 million within just five days. Approximately $100 million was added to these pools, and some pools even reached their maximum limit of $15 million in less than half an hour. The success of Epoch 1 was closely monitored through various online dashboards, providing everyone with a transparent view of the campaign’s impact.
However, despite planning for Epoch 1 to last two weeks, Ethena Labs decided to move on to Epoch 2 sooner than expected. This decision reflects their determination to maintain momentum and avoid unnecessary delays.
In Epoch 2, which started on February 26th, Ethena Labs introduced new ways for users to participate and earn rewards. Here’s what you can expect in this phase:
– More Room for Liquidity: Ethena Labs has increased the limits for certain pools and partnered with Maker and Aave to create a new pool. By adding funds to these pools, you can earn 20 shards per day for each token. However, one specific pool requires a specific deposit method to be eligible for shards.
– Doubling Down on USDe Locks: The maximum amount of USDe that can be locked (and earn rewards) has been raised from $100 million to $200 million. This expansion creates more opportunities for users to earn 10 shards daily for each locked USDe.
– Teaming Up with Pendle Finance: Ethena Labs has collaborated with Pendle Finance in an exciting twist. Users can now deposit USDe into Pendle Finance up to a specific limit and earn shards. Once the limit is reached, new options will be made available. More details about this partnership will be announced by Ethena Labs and Pendle Finance.
Epoch 2 is not just another phase of the campaign; it signifies Ethena Labs’ commitment to improving its platform and creating a more rewarding experience for its users. By expanding the ways users can earn rewards and partnering with other notable players in the DeFi space, Ethena Labs ensures that there is something for everyone.
As we enter Epoch 2, it is evident that Ethena Labs is focused on pushing forward, exploring new possibilities, and ensuring that its community benefits every step of the way. The Shard Campaign is an exciting opportunity for crypto enthusiasts to contribute to the growth of a thriving DeFi platform while earning rewards in return.
🔥 Hot Take: Ethena Labs’ Shard Campaign has gained significant traction in the DeFi space, attracting a large number of users who are eager to contribute to the platform’s liquidity and earn rewards. With the launch of Epoch 2, Ethena Labs continues to demonstrate its commitment to innovation and user satisfaction. By expanding liquidity options, increasing rewards for USDe locks, and partnering with Pendle Finance, they are paving the way for a more inclusive and lucrative DeFi ecosystem. As a crypto enthusiast, you should definitely keep an eye on Ethena Labs as they lead the charge in shaping the future of decentralized finance.
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