WHALE FACTOR
AnalysisFeaturedAIMarketCalendarCryptoToolsAPI
Newsletter

Latest Articles

Unmasking Satoshi Nakamoto: Why the Crypto World Remains Skeptical

Apr 8, 2026

Oil Ceasefire Ripples Through Bitcoin: Why $150 Crude Still Looms

Apr 8, 2026

BigBear.ai's Stock Plunge: What It Means for Investors in 2023

Apr 8, 2026

DoorDash and Wing Bring 20-Minute Drone Deliveries to Atlanta in 2024

Apr 8, 2026

Home Depot's Halfway to Halloween: A $50 Billion Market Opportunity?

Apr 8, 2026

Kura Sushi USA Sells Off Despite Beating Wall Street Expectations

Apr 8, 2026

Kura Sushi Shares Sink 16% Amid CFO Departure Despite Earnings Beat

Apr 8, 2026

AI's $100 Billion Spending Spree: Overreaction or Future-Proofing?

Apr 8, 2026

News & Analysis

  • Latest News
  • Featured
  • Analysis
  • Blog
  • AI x Crypto
  • Newsletter
  • RSS Feed

Learn & Compare

  • Crypto Glossary
  • Learn Guides
  • How to Buy
  • Compare Coins
  • Best Of
  • Developers

Prices & Tools

  • All Prices
  • Bitcoin Price
  • Ethereum Price
  • Market Overview
  • All Tools
  • Fear & Greed
  • Crypto Calendar

Company

  • About Us
  • Search
  • Privacy Policy
  • Terms of Service
  • Sitemap
  • HTML Sitemap
Whale Factor|

2026 Whale Factor. All rights reserved.

  1. Home
  2. /Glossary
  3. /Ethena
Back to Glossary
defi

Ethena

A DeFi protocol that creates USDe, a synthetic dollar backed by staked ETH and a corresponding short futures position.

Definition

A DeFi protocol that creates USDe, a synthetic dollar backed by staked ETH and a corresponding short futures position. This delta-neutral strategy earns yield from staking rewards and positive funding rates. Ethena grew to billions in TVL in 2024 and popularized the 'synthetic dollar' concept.

Share this term

Related Terms

Stablecoin

A cryptocurrency designed to maintain a stable value, usually pegged to the US dollar.

Funding Rate

A periodic payment between long and short traders in perpetual futures markets that keeps the contract price close to spot price.

Staking

Locking up tokens to help secure a proof-of-stake network and earn rewards.

1inch

A DEX aggregator that splits trades across multiple decentralized exchanges to find the best overall price.

Aave

One of the biggest lending and borrowing protocols in DeFi.

Across Protocol

A cross-chain bridge that uses an optimistic verification system and a network of relayers to move tokens between chains quickly.

Explore More

Latest NewsCrypto NewsMarketsAnalysisFull Glossary

Stay ahead of the market

Get daily crypto analysis delivered to your inbox. No spam, unsubscribe anytime.