ELI5: how is Ethena contributing to raising interest rates on lending markets?

Eternal optimist.
defi partnerships @optimism

sUSDe is yielding 37% right now. If can borrow stables below that rate, I can make more money. Lenders will move funds to lend against sUSDe because the rates will be higher, pushing rates up elsewhere.

An example, borrow a stablecoin against sUSDe at a 80% LTV for 30% interest rate. I can lever up $100 to $500 (borrow $400, buy sUSDe and use as additional collateral). 

Over a year instead of making $37, I'm making $65 ($185 in yield minus $120 in interest expense)