Ethena Pay launches Earn+ vault on Avalanche targeting up to 12% APY
Ethena Pay has introduced Earn+, a third-party Avalanche vault offering up to 12% APY on dollar deposits to Pro and VIP users through a leveraged Aave v4 strategy.
Ethena Pay has introduced Earn+, a yield program built on Avalanche that targets up to 12% APY on dollar deposits. The offering is currently restricted to Pro and VIP users of the crypto neobanking platform.[1][2]
The program operates as a third-party product where deposits are directed to an external DeFi vault on Upshift curated by Steakhouse, according to reports from BSCN and The Block. The underlying vault utilizes a leveraged strategy on Aave v4 on Avalanche and carries an initial total capacity of $4.5 million. Ethena Pay stated that it provides only the interface for the product, warning that depositors could lose some or all of their funds.[1][2]
Crypto Briefing reported that the Avalanche-powered vault could help drive mainstream adoption of synthetic dollars, although the rollout continues to navigate geographic and regulatory challenges.[3]
Key facts
- Ethena Pay launched Earn+, a yield program targeting up to 12% APY on dollar deposits.
- Earn+ is currently available exclusively to Pro and VIP users of the Ethena Pay platform.
- Deposited funds are routed to an external vault on Upshift curated by Steakhouse, utilizing a leveraged strategy on Aave v4 on Avalanche.
- The Earn+ vault has launched with an initial total deposit capacity of $4.5 million.
- Ethena Pay clarified that it provides only the interface and warned that users could lose some or all of their deposited funds.
- Crypto Briefing reported that Earn+ could foster mainstream adoption of synthetic dollars despite facing regulatory and geographic hurdles.
Sources · 3 sources
- BS
BSCN@BSCNewsPost on X ·
Ethena Pay debuts 12% US dollar yield... @Ethena's crypto neobanking app @ethena has announced a new program dubbed "Earn+". The program is so far only available to Pro and VIP users of the platform, but offers said users as much as 12% APY on their dollar deposits. The program works using a DeFi vault on @upshift_fi, which is curated by @SteakhouseFi, leveraging @aave on @Avax.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Ethena Pay has launched Earn+, a third-party product targeting up to 12% APY through a leveraged ethereum:0x4c9edd5852cd905f086c759e8383e09bff1e68b3 strategy on Aave v4 on Avalanche. Funds are moved into an external vault managed by Upshift and Steakhouse. Ethena Pay said it provides only the interface and that users could lose some or all of the funds deposited. The vault initially has a total capacity of $4.5 million. ethereum:0x57e114b691db790c35207b2e685d4a43181e6061
Open source - CB
Crypto BriefingArticle ·
Avalanche powers Ethena Pay’s new Earn+ vault for higher target yields Ethena Pay's Earn+ vault on Avalanche could drive mainstream adoption of synthetic dollars, but geographic and regulatory challenges remain. The post Avalanche powers Ethena Pay’s new Earn+ vault for higher target yields appeared first on Crypto Briefing .
Open source