Ethena Shards goes beyond Ethereum and launches exclusively on Injective

Today, Injective announced its exclusive integration with Ethena, marking the first Ethena integration outside of the wider Ethereum ecosystem.

This collaboration gives Injective and the entire IBC community access to USDe and participation in Ethena's sharding campaign, creating additional earning opportunities for users.

What is Ethena?

Ethena is a prominent player in the cryptocurrency space, gaining nearly 1 billion in total value locked (TVL) in less than a month. Its goal is to revolutionize DeFi by creating synthetic revenue-generating tokens.

USDe is a synthetic Ethena dollar that is a censorship-resistant, stable and scalable solution for the digital asset market, fully supported on-chain and free to create compositions on other protocols. Unlike traditional stable assets, USDe relies on innovative technologies such as delta hedging and established assets such as ETH to maintain its peg to the dollar.

How will Ethena work with Injective?

The Ethena integration is made possible by Injective's implementation of the Ethereum EIP712 standard, which allows Ethereum wallets such as MetaMask to seamlessly connect to the Injective network and generate an Injective wallet address that is automatically linked to an Ethereum wallet address.

Ethena will use this integration to query the Injective network for these Ethereum addresses holding USDe and provide shards to these users in the Ethena dApp.