Pendle Launches eUSDe Pool As Part Of Ethereal’s Season Zero Program
In Brief
Pendle announced the launch of Ethereal’s pre-deposit campaign, allowing users who deposit USDe on Ethereum to receive eUSDe and Ethereal Points, thereby enhancing their rewards.
Permissionless yield-trading protocol Pendle announced the launch of Ethereal’s Season Zero Program on its platform. This initiative allows users to earn rewards from multiple sources, including the Ethereal decentralized exchange (DEX), Ethena Labs—a protocol centered around the yield-bearing USDe stablecoin—and Pendle itself.
Season Zero serves as a pre-deposit campaign for Ethereal, a DEX for spot and perpetual trading built on the Ethena Network. Users who deposit USDe on Ethereum receive eUSDe receipt tokens, which not only represent their deposit but also grant them additional exposure to Ethereal Points, enhancing the rewards they already earn from holding USDe.
On Pendle, participants can earn 1.6x Ethereal Points plus 50x Sats for every 1 YT-eUSDe, as well as for every SY-eUSDe held in a liquidity provider (LP) position. This effectively positions Pendle as a platform for users to speculate on the demand for Ethereal and Ethena.
Additionally, those who take part in Season Zero through Ethereal or Pendle will receive priority access to upcoming product releases, such as testnets, as well as bonus rewards in future incentive programs and exclusive benefits reserved for early adopters.
Ethereal Kicks Off Season Zero Program Ahead Of Full DEX Launch
Season Zero Program marks the beginning of the countdown to the Ethereal’s full launch. This phase represents the start of its bootstrapping process and the initial onboarding of USDe as collateral. This program provides early adopters with the chance to earn rewards and gain exclusive access as Ethereal prepares for its full release.
Ethereal is developing a DEX focused on spot and perpetual trading, aiming to bring institutional-level trading capabilities to the blockchain. As the first native application built on the Ethena Network, it is specifically designed to integrate with the Ethena ecosystem’s liquidity, which exceeds $6 billion. This effort is part of the platform’s broader mission to establish the deepest order book in the decentralized finance (DeFi) space.
Season Zero marks the initial phase of Ethereal’s goal to connect centralized and decentralized trading environments. By involving the community, the platform aims to lay the groundwork for building institutional-grade infrastructure that combines on-chain trading with full self-custody, offering users greater control over their assets.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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.
