News Report Technology
June 14, 2024

Manta CeDeFi Integrates With Ethena Labs, Offering Increased Ethena Points For Staking

In Brief

Manta Network integrated its Manta CeDeFi with Ethena Labs, allowing users to earn 5x Sats by staking with Ethena on Manta CeDeFi.

Manta CeDeFi Integrates With Ethena Labs, Offering Increased Ethena Points For Staking

Modular blockchain platform specializing in zero-knowledge (ZK) applications, Manta Network, unveiled the integration of Manta CeDeFi with Ethena Labs, a decentralized protocol focused on the yield-bearing USDe stablecoin.

Ethena operates as a financial protocol on Ethereum, introducing a synthetic dollar known as USDe. USDe maintains price stability using a “delta-neutral” hedging strategy involving operations across centralized and decentralized platforms. Ethena provides USDe holders with an annualized reward primarily derived from shorting Ethereum futures.

The integration allows users to earn five times Sats or Ethena points by staking with Ethena on Manta CeDeFi. Furthermore, assets staked by users will generate additional returns through Ethena, thereby boosting yields for participants already engaged in Manta CeDeFi.

Manta CeDeFi provides continuous rewards with CeFi and DeFi yields. It allows holders of USDT, USDC, wUSDM, WBTC, BTCB, ETH, and STONE to increase income via CeFi’s stable strategy arbitrage, DeFi yields on Manta Pacific, as well as rewards in MANTA tokens.

The product generates dual yields simultaneously, offering consistent earnings from CeFi opportunities and on-chain engagement. Additionally, it provides a temporary option for BTC, ETH, and USD holders to receive Manta tokens via a two-month points program.

In Manta CeDeFi, individuals have the option to generate CeFi yield on their deposits through the institutional digital asset platform Ceffu. Staked assets are secured by the platform, and stakers receive on-chain Liquid Custody Tokens (LCT) on Manta Pacific, correlating with deposited funds. The tokens can be redeemed for mBTC, mETH, or mUSD.

Manta Foundation Launches $50 Million EcoFund To Boost Early-Stage Initiatives On Manta Network 

Manta Network designed to support zero-knowledge applications. It encompasses two networks: Manta Pacific and Manta Atlantic. These networks collectively foster an ecosystem conducive to the development and adoption of Web3 applications.

Recently, the Manta Foundation, the organization backing the Manta Network, introduced a $50 million EcoFund dedicated to supporting early-stage initiatives aimed at enhancing the Manta ecosystem. Additionally, it has initiated support for collators on Manta Atlantic by allocating 50 million MANTA tokens to foster growth and attract additional participants.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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