Ethena Labs expedites the launch of Epoch 2 of their sharding campaign, as USDe reaches $440 million in five days during Epoch 1.
Ethena Labs has been developing a disruptive Shard Campaign, which has, in particular, caused a stir in the DeFi industry. Ethena Labs initiated the Shard Campaign in an effort to increase participation and promote the development and stability of its platform.
The concept was straightforward: incentivize users to contribute to the platform’s liquidity, thereby enhancing its resilience and efficacy.
What Occurred During Epoch 1?
Epoch 1 focused on promoting users to maintain Ethena’s currency, USDe, and soliciting their contributions to specific liquidity pools. The response was tremendous! USD increased to more than $440 million in just five days, with the addition of an additional $100 million to these pools.
Certain pools reached their maximum value of $15 million in under thirty minutes. The progress was monitored through diverse online dashboards, which provided all individuals with an unambiguous understanding of the effects.
Dune Dashboard:
- hildoby
- hodlduck
- noxiousq
Despite the initial schedule of Epoch 1 spanning two weeks, Ethena Labs expedited the transition to Epoch 2 without delay. This behavior indicates their determination to maintain speed in order to adhere to a predetermined timetable.
Athena Laboratories Commences Epoch 2
Epoch 2 arrives on February 26 with additional opportunities to earn rewards and participate. The following is 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.
2. 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.
3. 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 Exactly is The Big Deal?
Epoch 2 represents more than a mere transitional stage; it serves as Ethena Labs’ deliberate reinforcement of its dedication to enhancing and enriching its platform for its users. By collaborating with other industry titans and expanding how rewards can be earned, they ensure that something is available for everyone.
As we enter Epoch 2, it is evident that Ethena Labs is committed to progressing, investigating novel opportunities, and ensuring that its community remains informed and supported throughout the process.
