This September, we introduced Ethena Whitelabel: our stablecoin-as-a service stack. Since its introduction, we secured major partners, including , Sui, and Jupiter. The world's largest chains and apps are choosing Ethena. Learn more below on why ↓

Ethena Whitelabel allows the developer of any chain, application, wallet or distribution that owns the end consumer to build their own stablecoin with Ethena. In this setup, the partner retains a portion of the economics from the backing assets, enabling revenue to flow back to the chain or app at the their discretion. The economics of capturing stablecoin revenue are substantial - most chains pay out hundreds of million in revenue to issuers annually. In an instant, stablecoins can become the biggest revenue drivers for most chains, apps, wallets or exchanges.

Core benefits of Ethena's Whitelabel offering include: 1. Dynamic backing assets: Both USDe and USDtb can be used in the backing allowing for different underlying return profiles. As benchmark interest rates fall, optionality across differentiated sources of return will become important for partners 2. Time to market: off the shelf solution & deployment expertise allows for rapid secure deployment and immediate go-to-market for partner chains, applications, exchanges and wallets. 3. Track record: Ethena is one of the few issuers that has experience managing dollar-pegged assets at >$15 billion scale. Ethena has handled over $25 billion of mint/redeem flows to date with zero downtime. 4. Liquidity module: Pending risk committee & governance approval, whitelisted participants would be able to swap Ethena Whitelabel assets backed by USDtb for stablecoins in USDe's backing, allowing Whitelabel assets to inherit instant liquidity benefits at a billion dollar scale. Further, partners can leverage Ethena's go-to-market expertise to scale their assets to market with one of the largest active LP and DeFi user bases in all of crypto.

Outside of chain networks, we think four forms of apps can uniquely benefit the most from the Ethena Whitelabel offering: 1. Wallets: Today wallet users hold tens of billions of dollars of stablecoins idle. Those assets can be put to use through a stablecoin and savings-like product powered by Ethena Whitelabel. Doing so will increase retention for those assets within the wallet's ecosystem. 2. Perp DEXs: There are billions of dollars sitting in perp DEX balances which can be unlocked via Ethena Whitelabel to either drive more returns to users or promote an additional revenue stream to fund market makers, trading competitions, and general protocol growth. Ethena products are already on some of the most popular CEX platforms today. 3. Prediction markets: Longer-dated prediction markets have inherent problems due to capital inefficiency of idle dollar balances. As a result, less capital is willing to bet against longer dated maturity events. Absence of a base rate can lead to less liquidity in these often illiquid markets. 4. Neobanks: Similar to wallets, the neobanks of today and the upcoming crypto neobanks of the future will hold billions of dollars of user capital. That capital can be unlocked and made more productive via stablecoin rails, accelerating on-chain adoption.

As our Whitelabel network expands, Ethena grows TVL for both USDe and USDtb while also receiving economic upside in the growth of other ecosystems. Ethena Whitelabel allows our TVL and network effects to expand even faster than ever Full Blog Post:

@megaeth @SuiNetwork @JupiterExchange Ethena is unstoppable

@megaeth @SuiNetwork @JupiterExchange the Peg?

@megaeth @SuiNetwork @JupiterExchange Ethena is not holding back 👀

@megaeth @SuiNetwork @JupiterExchange This is how every ecosystem wins with Ethena Well played team

@megaeth @SuiNetwork @JupiterExchange No info on what the rev split is between Ethena and the underlying product? Did some napkin math in the past but would be great to get concrete data

@megaeth @SuiNetwork @JupiterExchange MEGAETHENA

@megaeth @SuiNetwork @JupiterExchange Always Bullish on ethena 🖤

@megaeth @SuiNetwork @JupiterExchange $ENA GOING TO 5 $

@megaeth @SuiNetwork @JupiterExchange please intern add music to this like you used too :P

@megaeth @SuiNetwork @JupiterExchange 👀

@megaeth @SuiNetwork @JupiterExchange good job

@megaeth @SuiNetwork @JupiterExchange When are you hedging usde with boros ?

@megaeth @SuiNetwork @JupiterExchange China vibes only

@megaeth @SuiNetwork @JupiterExchange Ethena is cooking out here

@megaeth @SuiNetwork @JupiterExchange compliance docs?

@megaeth @SuiNetwork @JupiterExchange Ethena Whitelabel flexin’ big chains and apps all hopping on the stablecoin wave

@SuiNetwork @JupiterExchange @ethena Whitelabel has big partners now. Leading chains and apps see strong value in Ethena’s stablecoin stack.

@megaeth @SuiNetwork @JupiterExchange Goat

@megaeth @SuiNetwork @JupiterExchange this is huge for defi adoption well done ethena

@megaeth @SuiNetwork @JupiterExchange Stablecoin infra that actually feeds partner treasuries is a game changer

@megaeth @SuiNetwork @JupiterExchange Go go 💙

@SuiNetwork @JupiterExchange exciting times for ethena! 🚀 partners are key

@megaeth @SuiNetwork @JupiterExchange Perfect 🙌

@megaeth @SuiNetwork @JupiterExchange megaeth mentioned

@megaeth @SuiNetwork @JupiterExchange NO ADLs on any positions. USDe has no short sided exposure to any DEX. Please share typical integration timeframes.

@megaeth @SuiNetwork @JupiterExchange Something massive is coming