Recently, the native stableasset USDe launched by Ethena Labs has been officially integrated into Hyperliquid Exchange (HyperCore) and HyperEVM, becoming the first dollar stablecoin with scalability and reward mechanisms in the ecosystem. This integration marks a significant advancement for Ethena in cross-chain DeFi infrastructure construction and brings new stableasset capabilities to Hyperliquid.
HyperCore users will automatically receive daily airdrop rewards based on their 24-hour average USDe holdings, with incentives provided and distributed by @merkl_xyz, requiring a minimum holding of 100 USDe. The reward mechanism requires no additional user operations, ensuring convenience and continuity of use.
Users can obtain USDe through multiple methods, including:
● Direct purchase on the HyperCore native order book;
● Using the "EVM <> Core Transfer" feature on Hyperliquid Portfolio page to transfer from HyperEVM;
● Bridging from other EVM networks to HyperEVM via @StargateFinance cross-chain bridge, then transferring to HyperCore (supported by @LayerZero_Core).
Currently, USDe's primary liquidity is concentrated in HyperCore, with asset interoperability between HyperCore and HyperEVM. With support from multiple protocols, USDe is accelerating its integration into the Hyperliquid ecosystem.
At the application level, users can use USDe as collateral for lending on platforms like @felixprotocol, @eulerfinance, @hyperdrivedefi, @0xHyperBeat; USDe and its yield-bearing asset sUSDe can also be paired for trading with feUSD on @CurveFinance, earning Felix points, 30x Ethena rewards, and sUSDe annual yield. Additionally, sUSDe will serve as compliant collateral in the Felix Vanilla market.
In the future, USDe will continue to expand its application scenarios in the Hyperliquid ecosystem, including but not limited to:
● Direct bridging to HyperCore from any chain;
● Fixed income product integration (@pendle_fi);
● Gamified yield entry (@pvp_dot_trade);
● Efficient AMM mechanism access (@ValantisLabs).
As the Hyperliquid ecosystem gradually improves, USDe is expected to become one of its core financial infrastructures, bringing continuous momentum for efficient stablecoin use and capital efficiency enhancement.
