Ethena Network

Applications building on Ethena

Based. A trading platform for Hyperliquid, providing perpetual and spot trading with custom UI, advanced orders, and refer & earn features.
Ethereal

Next-generation DEX platform for decentralized perpetuals trading powered by USDe, offering institutional-grade liquidity and stable funding.

InfiniFi

Enhances decentralized finance with efficient, automated fractional reserve banking for higher yields.

OnRe

Connecting onchain capital to real-world reinsurance risk—unlocking stable, uncorrelated returns that are liquid, composable and accessible for the first time.

Strata

Perpetual risk tranching protocol that offers structured products on USDe. Enables investors to tailor their risk-return preferences while earning crypto-native returns from carry and basis trades.

Derive

Decentralized protocol that creates unique and programmable onchain options, perpetuals, and structured products.

Neutrl

A synthetic dollar that delivers premium market-neutral yields by harnessing exclusive OTC market strategies.

Re

Global transaction layer for insurable risks, enabling people and businesses to navigate an uncertain future while they work towards creating a better one.

Based

A trading platform for Hyperliquid, providing perpetual and spot trading with custom UI, advanced orders, and refer & earn features.

Echelon

The premier MoveVM lending protocol & appchain building on networks like Aptos and Movement. Users can deposit and borrow USDe and sUSDe, opening up new lending opportunities.

Network | Ethena