Ethena Labs launches public mainnet and initiates the "Shard Campaign" user incentive program

ChainCatcher news reports that Ethena Labs has launched its public mainnet and initiated the "Shard Campaign" user incentive program. Ethena Labs states that the launch of the public mainnet marks the official release of its stablecoin USDe.

It is reported that the "Shard Campaign" will be divided into multiple epochs. Each reward involves different activities related to USDe and various communities that Ethena will closely collaborate with. The first epoch focuses on the liquidity of the USDe Curve pool.

ChainCatcher previously reported, according to The Block, that the developer of the Ethereum-based stablecoin USDe, Ethena Labs, completed a $14 million strategic funding round at a valuation of $300 million, led by Dragonfly, Brevan Howard Digital, and the family office of BitMEX founder Arthur Hayes, Maelstrom, with participation from PayPal Ventures, Franklin Templeton, Avon Ventures, Binance Labs, Deribit, Gemini, and Kraken. This funding round utilized a Simple Agreement for Future Equity (SAFE) and token warrants structure, bringing Ethena's valuation to $300 million and publicly launching the USDe stablecoin.

It is reported that USDe is an Ethereum-based stablecoin backed by derivatives, achieving price stability through "delta-neutral" hedging in both centralized and decentralized venues. To create USDe, Ethena allows users to use USD, ETH, or liquid staking tokens as collateral.