Ethena Labs

Ethena Labs is a Lisbon-based technology company founded in 2023, specializing in decentralized finance (DeFi) solutions. The company has developed USDe, a synthetic dollar protocol built on Ethereum, designed to provide a crypto-native monetary solution independent of traditional banking infrastructure. USDe maintains its peg through delta-hedging Ethereum and Bitcoin collateral, ensuring full backing and seamless integration across centralized and decentralized finance platforms. Additionally, Ethena offers the 'Internet Bond' (sUSDe), which combines revenue from staked assets and derivatives markets to create an on-chain, dollar-denominated rewards instrument.