Introducing Liquid Leverage, a new Ethena integration on money markets enabled by partners, launching first on @aave 👻 Users can now deposit 50% sUSDe & 50% USDe into Aave and earn promotional rewards for USDe (currently ~12% APY), in addition to the normal USDe lending rate and sUSDe's native APY

To be eligible for Liquid Leverage rewards for USDe deposits, users must: - Supply sUSDe and USDe, with a cap of 50% for USDe eligible for rewards (if additional USDe is supplied, it won't be rewarded) - Be borrowing USDC, USDT, or USDS - not USDe - Have done at least one loop, borrowing stablecoins against sUSDe and USDe and resupplied those assets to Aave We recommend the use of Aave's sUSDe e-mode which now accepts USDe and sUSDe as collateral starting today to unlock additional capital efficiency

Rewards will be claimable for eligible Liquid Leverage users via @Merkl_xyz The first claim will arrive in approximately one week accounting for interactions up until then, and then will be claimable once every 8~12 hours from then Note: after one month, the USDe promotional rate will decrease to account for Aave's native USDe lending rate. The sum of the lending rate and the new promotional rate should roughly approximate the sUSDe APY

As part of this new integration, we will be adjusting the USDe Ethena rewards rate on most money market integrations to 5x prospectively Further, users that loop sUSDe and USDe/eUSDe PTs while maintaining the underlying YT position will also have points earned on their YTs reduced to a 5x rate going forward