Ethena Labs has launched its stablecoin USDe on the Solana network which allows users to access USDe while transacting across various Solana applications. Borrowers can use SOL as collateral for USDe loans, pending approval from Ethena token holders. USDe is now integrated with Kamino Finance, Orca, and Drift Protocol. It will soon be available on Jito. Users can earn Ethena Sats, which are exchangeable for ENA, by providing USDe liquidity or using it as collateral for margin trades. USDe aims to maintain a peg to the US dollar and generates yield from Lido Staked Ethereum (stETH) and short positions in the Ethereum perpetual futures market.

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