Ethena Labs has launched USDe and sUSDe on Plasma, making its key greenback belongings central to the brand new layer 1’s decentralized finance ecosystem from day one.
Abstract
- Ethena launched USDe and sUSDe on Plasma’s mainnet.
- Aave markets opened with $1B capability backed by Binance liquidity.
- USDe provide has reached $14B, now third-largest stablecoin.
The launch occurred on Sept. 25 alongside Plasma’s mainnet beta, which opened with greater than $2 billion in stablecoin liquidity and over 100 integrations.
In response to Ethena’s (ENA) announcement on X, USDe and sUSDe went reside throughout Aave, Curve, Balancer, and Fluid on day one, with Pendle set to comply with.
Aave launch with Liquid Leverage
On Plasma, Aave launched Liquid Leverage markets with $500 million of USDe and $450 million of sUSDe deposit capability. The swimming pools will profit from an inflow of USDT liquidity from Binance Earn.
Ethena launches as we speak on @PlasmaFDN as a core greenback asset inside their DeFi ecosystem.
Liquid Leverage is reside on @Aave’s Plasma occasion, with almost $1 billion of USDe & sUSDe deposit capability which is able to profit from the availability of USDT from Binance Earn.
Extra Ethena-powered… https://t.co/sOYqZtw04Y pic.twitter.com/lpBR7M3E0B
— Ethena Labs (@ethena_labs) September 25, 2025
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USDe and sUSDe deposits on Aave additionally earn Ethena Factors, whereas rewards from leverage methods may be claimed by Merkl. Past Aave, customers can entry USDe throughout Curve, Balancer, and Fluid, with bridging enabled by way of Plasma’s UI and Stargate Finance.
Ethena’s fast cross-chain enlargement
The Plasma launch continues Ethena’s push throughout a number of networks. Earlier this month, USDe and sUSDe went reside on Avalanche with AVAX rewards and built-in with the Optimism Superchain by OVaults.
Ethena additionally raised $530 million by Stablecoin X and launched MegaUSD with MegaETH, bringing the availability of USDe near $14 billion.
Plasma is positioning itself as a stablecoin-native Layer 1 with sub-second finality and Bitcoin-secured DeFi. Backed by Bitfinex, Bybit, Paolo Ardoino, and Peter Thiel, it entered the market with a $10 billion totally diluted valuation for its native token.
With Ethena’s belongings embedded throughout key venues and Pendle’s yield merchandise set to comply with, USDe and sUSDe are anchoring early adoption on the community.
Learn extra: YZi Labs expands stake in Ethena as USDe surges previous $13b
