"Exploring the ecosystem together"

1/7 📣 Introduction

Hello everyone! I continue my series dedicated to an in-depth exploration of the @injective ecosystem and its dApps.

Today I want to introduce you to an innovative platform that creates a synthetic USDe dollar, and that is @ethena_labs. What exactly is this project, how does it work and why does it play one of the important roles for the Injective ecosystem, opening up new opportunities? Breaking it down in the thread 👇

#injectiveAcademy

2/7 🤓 What is the Ethena protocol?

Ethena is a synthetic dollar protocol built on Ethereum. Its main goal is to offer a decentralized solution for stable assets in the crypto ecosystem.

Its flagship products are: 
💰 USDe - synthetic dollar 
📈 sUSDe - an income instrument for savings

4/7 🤖 What is Internet Bond and How is it Connected to Ethena?

Internet Bond is an innovative financial instrument by Ethena, designed to generate high yields through ETH staking and derivatives trading.

How Does It Work?

1️⃣ Core Asset: Internet Bond is based on ETH staking and its derivatives (e.g., stETH).

2️⃣ Delta Hedging: To maintain stability, the protocol utilizes futures and derivative instruments, reducing market risks and making the asset more predictable.

3️⃣ Yield Generation: Returns are generated through ETH staking rewards and profits from derivatives trading.

5/7 🤝 Ethena x Injective

The collaboration between Ethena and Injective unlocks major opportunities for the Injective ecosystem, granting users access to the revolutionary synthetic dollar USDe and expanding the network’s financial capabilities.

Previously, USDe was only available within the Ethereum ecosystem, but now Injective becomes the first network outside of Ethereum where users can acquire and utilize USDe. This establishes Injective as a key hub for synthetic assets.

6/7 🎁 Exclusive Bonuses for Injective Users

USDe holders on Injective can participate in the Ethena Shards Campaign, earning 5x shards (points) on Ethena. This provides a significant advantage over users on other blockchains, increasing engagement within the ecosystem.

7/7 I'll see you ninjas again 👋

We are not stopping and will continue "Exploring the ecosystem together".

Which dApp built on @injective would you like to learn more about?🥷

3/7❓How is USDe Stability Maintained?

USDe is pegged to the US dollar through a unique mechanism:

🔸Delta hedging of BTC, ETH, and SOL assets via futures
🔸Reserve of liquid stablecoins (USDC, USDT) for protection during market downturns
🔸Fully on-chain collateralization

This makes USDe scalable, resilient, and independent from traditional financial systems.