Ecosystem spotlight: Ethena labs Ethena brings sUSDe to @Aptos as a yield-bearing synthetic dollar, now actively used across lending and stablecoin strategies on Echelon. Here’s how @ethena_labs sUSDe is being adopted across Echelon ↓

Ethena introduces sUSDe as a yield-bearing representation of USDe. The design allows sUSDe to remain composable across DeFi while capturing protocol yield. This structure makes sUSDe suitable for lending, looping, and incentive-driven strategies.

sUSDe supply on Echelon scaled rapidly following launch. • Total sUSDe supplied: ~31.27M • Peak supply exceeded $90M • Consistent supply in the $35–60M range sUSDe has become one of the largest stable assets actively supplied into Echelon.

sUSDe liquidity on Aptos is enabled through direct bridging via @LayerZero_Core. Bridged sUSDe can be supplied immediately, where it participates in lending markets alongside USDC, USD1, and other core assets. This lowers friction for cross-chain capital entering Aptos DeFi.

Echelon has been integrated into the Ethena ecosystem since early adoption on Aptos. sUSDe activity on Echelon contributes to Ethena-aligned usage, while sENA stakers are eligible for additional rewards, including 5% of Echelon’s token allocation reserved for Ethena users.

Adoption has been supported through joint Ethena × Echelon incentives. • $2.7M of incentives have been distributed to sUSDe lenders • Users earn Ethena sats while also accruing Echelon points and lending yield • Locked sENA positions receive additional reward multipliers This aligns stablecoin liquidity with long-term usage.

Yield-bearing assets like sUSDe are well suited for fixed-rate primitives. With Echelon’s Fixed Yield roadmap, assets like sUSDe can be used to split principal exposure from future yield, opening up duration-based strategies without taking directional risk. More on this soon.

Ethena’s sUSDe has become a core stable asset on Echelon. With deep supply and aligned incentives, sUSDe has become a core asset for stablecoin yield strategies across Echelon. Supply sUSDe on Echelon ↓