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Ethena Protocol

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Category: Stablecoin Issuer
TVL: $3.9B

Ethena

Ethena is a decentralized finance protocol that allows users to mint USDe, a synthetic dollar, using liquid staking tokens as collateral. The platform also offers staking of USDe to earn yield in the form of sUSDe. Ethena aims to provide a stable, high-yield asset for the crypto ecosystem, combining the stability of a dollar-pegged token with the benefits of decentralized finance.
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Funding Rounds

Funding Round: Unknown
Funding Date: 1 Oct, 2025
Raised Amount: $14M
Funding Round: Unknown
Funding Date: 1 Feb, 2025
Raised Amount: $16M
Funding Round: Private
Funding Date: 1 Feb, 2025
Raised Amount: $100M
Funding Round: Strategic
Funding Date: 16 Feb, 2024
Raised Amount: $14M
Funding Round: Strategic
Funding Date: 1 Feb, 2024
Raised Amount: $14M
Funding Round: Seed
Funding Date: 17 Jul, 2023
Raised Amount: $6M

Investors