Ethena Labs: You can now deposit ENA into Pendle and get 30x daily rewards

Golden Finance reports that EthenaLabs has released two important updates: Users can now deposit ENA into Pendle Finance and receive 30x daily rewards, with a cap of $100 million. ENA has locked up nearly US$200 million, and the upper limit will immediately increase to US$300 million. What is unique about this pool is that YT buyers not only receive 30x higher rewards than USDe, but can also use YT to meet at least 50% of the ENA vs USDe requirements. Additionally, the Ethena Protocol released its first proof of custody today to continue increasing the protocol’s transparency. The summary of the document is as follows: USDe supply: US$2.358 billion; reserve assets per certificate: US$2.365 billion; reserve fund: US$32.7 million; total reserves are 101.65% of USDe supply.