Ethena launches USDe stablecoin on the mainnet alongside a ground-breaking Shard Campaign, promoting community engagement and ecosystem growth.
In conjunction with an unprecedented Shard Campaign, Ethena has declared the USDe stablecoin’s debut on the public mainnet.
The objective of this campaign is to motivate users to engage in the ecosystem through the provision of rewards based on their contributions.
Additionally, the deployment of USDe to the public mainnet represents a momentous achievement for the Ethena community.
The Shard Campaign functions as a novel approach to stimulate user engagement and cultivate sustained participation.
Ethena seeks to foster a dynamic and engaged community committed to its success by rewarding ecosystem actions.
This approach signifies a deviation from conventional incentive schemes, reflecting Ethena’s dedication to pioneering advancements and user-centric development.
Duration and Organization
The Shard Campaign is designed to adhere to a series of short-duration seasons referred to as “Epochs.”
A distinct set of endeavors associated with the USDe stablecoin and community integration is the focus of each Epoch.
In addition, the commitment is to complete the campaign no later than three months from now or until the USDe supply reaches $1 billion, whichever comes first.
Objects of interest provide participants with incentives to participate in a variety of activities that benefit the ecosystem of Ethena.
These activities consist of, among others, supplying USDe Curve pools with liquidity, minting USDe with various stablecoins, and employing USDe on money markets.
Every activity is strategically crafted to augment liquidity, stimulate community engagement, and propel the progress of the ecosystem.
However, early participants in the Shard Campaign are eligible for greater rewards, given that the quantity of Shards granted per Epoch gradually diminishes.
This decay mechanism incentivizes early engagement to optimize rewards.
Participants can secure a greater portion of rewards and actively contribute to the expansion and success of Ethena’s ecosystem by becoming involved from the outset.
Notifications and Limitations
It is imperative to emphasize that the Shard Campaign specifically targets consumers and long-term participants who are dedicated to making contributions to the Ethena ecosystem.
However, certain jurisdictions impose restrictions on participation, including the United States.
Users residing in jurisdictions with restrictions will encounter prohibited sections of the Ethena web application, which includes the dApp UI.
Meanwhile, this practice guarantees adherence to pertinent regulations and legal obligations.
Stacked ETH and short ETH derivatives on exchanges support USDe, which functions as Ethena’s synthetic dollar.
It assumes a central role in the liquidity provision sections of AMMs and CEX orderbooks.
On the other hand, eUSDe represents staked USDe, which accrues value from underlying staked ETH as well as the funding rate obtained from short ETH positions.
sUSDe serves as a reward-bearing token, signifying the accumulation of value within the staking smart contract.
Meanwhile, participation in the inaugural epoch of Curve LP, in which users supply liquidity to diverse USDe pools on Curve, is the focal point.
By securing their Curve LP tokens through Ethena’s interface, participants can accumulate 20 shards daily for every dollar worth of LP tokens secured.
Furthermore, USDe deposits made outside of Curve gain users 10 additional shards per USDe.
