Ethena Pay introduced Earn+, a new yield product offering up to 12% APY by leveraging USDe and USDT at about 11 times leverage through Aave on Avalanche. The product uses USDe as collateral and borrows USDT, but the price feed for USDe tracks USDT, potentially masking drops in USDe's value and exposing users to significant losses. For example, a 2% drop in USDe value could wipe out 22% of a user's equity before fees. Borrowing costs and fees also impact returns, with withdrawal requests processed within 24 hours but possibly delayed. Ethena Pay caps deposits and has risk controls, but investors should be cautious of the leverage and oracle risks involved.
Ethena Pay's new Earn+ vault features up to 12% APY with about 11x leverage on USDe and USDT via Aave. For readers following the broader crypto market, here is Pluang's snapshot as of Oct 29, 2026 17:53 WIB: out of 50 major cryptocurrencies, 7 rose and 42 fell. Notable movers include EOS at Rp12.649 (+8.13%), BAT at Rp2.522 (-7.89%) with 100% buy order activity, and BCH at Rp5.114.233 (-6.65%) with 58% buy order activity and a typical hold time of 69 days.
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