Demex Daily #172: Ethena Expands DeFi Reach with Aave Integration

What’s Interesting Today:

Ethena Labs, issuer of the USDe stablecoin, has expanded its reach in the DeFi sector by integrating with Aave, the largest lending platform in the industry. Users can now deposit various assets including ETH and WBTC on Aave to borrow stablecoins in USDe or sUSDe, with options to earn bonuses on different collateral types. This integration, which came without community pushback, enhances Ethena's position in the market, especially after USDe's market capitalization grew 42% in the last 30 days, reaching $3.2 billion and making it the fourth-largest stablecoin. Aave, holding $13.2 billion in TVL, allows Ethena to tap into a significant part of the DeFi lending market. Additionally, current borrow rates on Aave are now potentially more favorable compared to those on MorphoLabs for USDe and sUSDe vaults.

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Zilliqa has launched its 2.0 upgrade white paper and roadmap, announcing significant improvements for deployment on the mainnet in 2024. The upgrade includes a new sharding architecture, "x-shards," which enhances customization for developers and businesses, and a shift from proof-of-work to a more environmentally friendly proof-of-stake consensus mechanism. This change promises faster transaction finality, improved security, and adjustable block times, with the root mainnet shard achieving an average of two seconds. Additionally, the update enhances cross-chain compatibility, particularly with EVM-compatible blockchains, and introduces new tokenomics to support sustainable staking rewards and reduced inflation. This rollout follows recent disruptions that affected block production on Zilliqa’s mainnet.

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