Ethena has announced that its stablecoin USDe is now available on Hyperliquid’s DEX and on HyperEVM blockchain. Not only that, users of HyperCore will be able to earn daily rewards based on their average USDe balances.
Ethena and the stablecoin USDe now available on the DEX Hyperliquid and Blockchain HyperEVM
News from Ethena, which has announced that its stablecoin USDe is now available on Hyperliquid DEX and on HyperEVM blockchain.
“USDe is now active on both exchanges @HyperliquidX and HyperEVM. HyperCore users will receive daily rewards that will automatically add to their USDe spot exchange balances. USDe bridges the opportunity for a scalable and rewarding dollar asset within the Hyperliquid exchange and ecosystem. HYENA 2025.”
In practice, USDe, developed by Ethena Labs, is marking its expansion within the Hyperliquid ecosystem, with the idea of increasing the use cases of the stablecoin.
Not only, Hypercore users who own at least 100 USDe will be able to obtain daily rewards. These rewards will be automatically issued based on their 24-hour average balance and are distributed through the Merkl platform.
Ethena and the expansion of the USDe stablecoin in the Hyperliquid ecosystem
Continuing with the post on X, Ethena Labs states that the stablecoin USDe can be purchased directly through the HyperCore orderbook or connected to HyperEVM via Stargate Finance, powered by Layerzero.
Alternatively, the USDe can be transferred between Hypercore and HyperEVM using the “EVM <> Core Transfer” function on the Hyperliquid platform.
Ethena Labs then stated that it has formed several partnerships with other projects to increase the use cases of USDe.
An example is the partnership with Hyperunit, which will allow USDe holders to borrow the stablecoin against Unit BTC, ETH, and SOL, on platforms like Euler Finance and Felix Protocol.
Furthermore, users can associate USDe or its staked variant, sUSDe, with feUSD on Curve Finance to earn rewards, including 30x multipliers on Ethena incentives.
Still at stake are new integrations that Ethena Labs aims to achieve to expand the utility of USDe. Among others, there has been talk of cross-chain bridging via Layerzero, fixed-rate offerings via Pendle, and advanced AMMs with Valantis Labs.
USDe and the Telegram blockchain
A few days ago, the news emerged that Ethena Labs has formed a new collaboration also with the TON Foundation, to launch USDe on the Telegram blockchain.
This means that USDe and sUSDe will be integrated into the TON blockchain under the name tsUSDe and can be used through Telegram wallets.
USDe is a stablecoin pegged to the US dollar that could revolutionize the financial world with its crypto solutions.
In practice, unlike USDT and USDC, USDe leverages a smart combination of cryptocurrencies (such as Bitcoin and Ethereum) and smart contracts to remain stable, even when the market fluctuates.
Even in terms of staking, currently the sUSDe is offering an annual yield of about 20-30%, depending on market conditions, compared to the 1-2% of a traditional savings account.
