Ethena Labs is disrupting decentralized finance with its Shard Campaign, aimed at boosting participation and platform strength.
Ethena Labs has been making waves particularly with its Shard Campaign, which has been shaking things up. Ethena Labs initiated the Shard Campaign to increase the number of participants and strengthen and expand their platform.
Users get rewarded for their contributions to the platform’s liquidity, making it more robust and efficient. For the duration of Epoch 1, the primary objective was to persuade users to maintain their holdings of Ethena’s currency, USDe and to encourage them to add liquidity to particular pools.
It was a tremendous response with contributors adding $100 million to these pools, increasing USDe’s total value to nearly $440 million in just five days. In less than half an hour, many pools reached their maximum limit of $15 million dollars.
Everyone was able to get a clear picture of this success’s impact because it was recorded using a variety of web dashboards. Ethena Labs decided to skip Epoch 1 and move on to Epoch 2 earlier than expected, despite Epoch 1 being scheduled to last two weeks.
Given this, it is clear that they are eager to maintain the pace and are not willing to slow down in order to adhere to a timeline.Ethena Labs is entering a new era.
Ethena Labs Enters Epoch 2
Epoch 2 beginning on February 26th, will introduce additional methods to join and earn more rewards. Here’s what’s 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
- 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.
- 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.
Epoch 2 is not just another phase. By increasing the number of methods by which you may earn rewards and forming partnerships with other prominent players in the decentralized finance industry, they are ensuring something for everyone.
As we go into Epoch 2, it is abundantly evident that Ethena Labs is all about moving forward, exploring new possibilities, and ensuring that their community is right there with them, benefiting from every step of the way.