Ethena protocol
Overview
The DeFi protocol Ethena issues a synthetic dollar stablecoin, USDe. Its backing consists of staked Ethereum, while short positions in ETH perpetual futures hedge against price volatility. Ethena seeks to provide a stablecoin that is censorship-resistant and scalable, independent of conventional banking systems.
Within The Counterparty graph, Ethena connects to 44 tracked entities, most strongly to Aave, Pendle, Ethena USDe.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 10 of 44 total).
| Relation | Connected entity | Confidence |
|---|---|---|
partnered_with | Aave | 95% |
partnered_with | Pendle | 95% |
issued_by | Ethena USDe | 95% |
issues | Ethena USDe | 95% |
issued_by | Staked USDe | 95% |
issues | Staked USDe | 95% |
mentions | Aave Leads ‘DeFi United’ Push to Contain $292M KelpDAO Fallout | 95% |
launched | Converge | 95% |
mentions | Morgan Stanley Targets BlackRock With Money Market Fund for Stablecoin Issuers | 95% |
mentions | Bitcoin Touches $78,000 As Iran Declares Strait of Hormuz 'Completely Open' | 95% |
Frequently asked questions
What is Ethena?
Ethena is a stablecoin tracked in The Counterparty knowledge graph. It is connected to 44 other tracked entities, most strongly to Aave, Pendle, Ethena USDe.
What type of entity is Ethena?
Ethena is classified as a stablecoin (protocol) in The Counterparty knowledge graph.
What is Ethena connected to?
In The Counterparty knowledge graph, Ethena is linked to 44 other tracked entities, most strongly to Aave, Pendle, Ethena USDe.
The dated record
1 dated entry on file, most recent first.
- Apr 2026 Ethereum (ETH) Panic? Not So Fast: Ethena Data Shows Demand Holding — Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purpos... u.today