Ethena's stablecoin USDe supply has exceeded 1.5 billion, and the contract positions opened by the protocol account for 15% of the global ETH contract positions.

Ethena Labs released an update regarding the Shard Campaign: Starting from March 11th, the Shard reduction will take effect and bring about the following changes: -The CurveLP position Shard multiplier will decrease from 20x to 15x; -The Shard multiplier for holding USDe outside of qualifying pools will decrease from 5x to 2x; -Other pools are not affected. This is equivalent to a daily reduction of approximately 1 billion Shards, or about 12% of Shards per day.

According to CoinDesk on March 8th, Ethena Labs' stablecoin USDe has obtained a reserve of $4 million through Ethereum futures financing rates and delegating Ethereum to validators. The project achieved early success with a controversial concept, increasing its reserve to over $16 million and becoming the third largest source of revenue in the cryptocurrency market.

Decentralized stablecoin project Ethena Labs explained the reason for the significant decrease in the sUSDe annual yield on the X platform. According to data disclosed by Ethena Labs, the sUSDe APY generated is 44.3%, but the sUSDe APY paid is only 15.2%. Ethena Labs stated that reducing sUSDe payments is to ensure a slow and controlled rollout of products, in case of any need during protocol development. The retained USDe will be held by the protocol and distributed to holders later. Ethena Labs stated that APY may change over time and is not guaranteed, and may be negative when there is too much leverage demand in the system to go long on cryptocurrencies. High yields are just a manifestation of capital supply and demand imbalances within the system, like any interest rate. In addition, Ethena Labs also disclosed on-chain transaction receipts to share detailed information on calculating APY with the community to ensure transparency.

The Ethena protocol behind the USDe digital dollar currently accounts for nearly 5% of global Ethereum perpetual futures open interest contracts. USDe is a token pegged to the value of the US dollar, which can provide high returns. Although it is described as a stablecoin, the team avoids using this term and instead explains it as a "synthetic dollar." George Calle, Vice President of Research at TheBlock, emphasized that Ethena's USDe is essentially a tokenized representation of cash and arbitrage that exists in the crypto market. Therefore, it generates returns by shorting Ethereum futures and staking Ether. According to CoinGecko data, the project's advertised yield of up to 27% has so far attracted users to mint approximately $420 million worth of USDe tokens.

According to information on the official website of USDe developer Ethena Labs, Ethena announced the opening of a $50 million USDe deposit pool yesterday and has once again reached the deposit limit. The current Ethena protocol TVL has reached $342 million.

Decentralized stablecoin issuer Ethena Labs announced the opening of a new USDe deposit pool with a limit of $50 million.