DeFi

Can someone explain why isn't (or can't) Ethena built on Arbitrum (or any other L2s)?  The gas fees are atrocious frfr.

ethereum is more decentralized, trustless and stable (no sequencer failures). It will not take long before you can bridge liquid staked tokens can be bridged and you can also accumulate points or whatever via L2.

This and liquidity from whales. Ethena was open to whales for many months now, that's their user that does not care about gas fees that much as their deposits were 50k from the beginning