Fungify x Ethena

Leveraged yield and points farming

Fungify has announced a collaboration with Ethena, making it the first cross-margin lending protocol on the Ethereum mainnet to support sUSDe and USDe in its liquidity pools. This initiative allows Ethena users to utilize their sUSDe and USDe holdings as collateral for borrowing, enabling greater liquidity and leverage opportunities.

Following this integration, sUSDe assets will qualify for CAPS points within Fungify's rewards program, with an introductory offer of a 2x multiplier for Ethena assets. This strategic partnership is set to unlock novel yield arbitrage opportunities, driving greater market efficiency. When you deposit your Ethena assets, any shards earned will be distributed back to users.

About Fungify

Fungify is composed of two NFTFi applications: Pools and Index. Pools is a cross-chain lending protocol for NFT yields and loans. It allows you to earn interest while borrowing against your NFTs, Stablecoins, or any other digital asset. The Index is an NFT ETF that lends itself out to earn yield, allowing fractional exposure to a market-capitalization weighted basket of blue-chip NFTs. 

About Ethena

Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument - the 'Internet Bond'. Ethena's synthetic dollar, USDe, is the first censorship resistant, scalable and stable crypto-native solution for money, achieved by delta-hedging staked Ethereum collateral. 

Ethena Links: Website  | Twitter

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