Ethena Labs has been making waves in the DeFi space, especially with their Shard Campaign shaking things up. Ethena Labs started the Shard Campaign to get more people involved and boost their platform’s stability and growth. The idea was simple: reward users for contributing to the platform’s liquidity, making it more robust and efficient.
What Happened in Epoch 1?
Epoch 1 was all about getting users to add liquidity to specific pools and encouraging them to hold onto Ethena’s currency, USDe. The response was huge! In just five days, USDe grew to over $440 million, with $100 million added to these pools. Some pools even hit their max of $15 million in less than half an hour. This success was tracked using various online dashboards, giving everyone a clear view of the impact.
Dune Dashboards:
- hildobby
- hodlduck
- noxiousq
Even though Epoch 1 was planned to last two weeks, Ethena Labs decided not to wait and moved on to Epoch 2 sooner. This shows they’re keen on keeping the momentum going and not slowing down to stick to a schedule.
Ethena Labs Enters Epoch 2
Starting February 26th, Epoch 2 brings new ways to participate and earn rewards. Here’s what’s new:
- More Room for Liquidity: They’ve increased the limits for certain pools and added a new one in partnership with Maker and Aave. If you add your funds to these pools, you can earn 20 shards each day for each token. But, for one specific pool, you’ll need to deposit in a certain way to be eligible for shards.
- Doubling Down on USDe Locks: The maximum amount of USDe you can lock (and earn rewards on) has been raised from $100 million to $200 million. This means more opportunities to earn 10 shards daily for each USDe you lock.
- Teaming Up with Pendle Finance: This is a new twist. You can now deposit USDe into Pendle Finance up to a specific limit and earn shards. Once that limit is reached, they’ll open up new options. More details will come out soon, straight from Ethena Labs and Pendle Finance.
What’s the Big Deal?
Epoch 2 isn’t just another phase; it’s Ethena Labs’ way of doubling down on their commitment to making their platform better and more rewarding for users. By expanding the ways you can earn rewards and partnering with other big names in the DeFi space, they’re making sure there’s something for everyone.
So, as we step into Epoch 2, it’s clear that Ethena Labs is all about pushing forward, exploring new possibilities, and making sure their community is right there with them, benefiting every step of the way.