Ethena Pay launches Earn+ with up to 12% rewards
7.1 Investments Ethena Pay’s Earn+ offers up to 12% rewards via an Upshift vault on Aave’s Avalanche, with no lock-up and fast withdrawals. Tiered deposit limits expand DeFi yield access for users.
Ethena Pay has introduced Earn+, a new feature designed to boost rewards on users’ dollar balances. By directing deposits into an Upshift vault managed by Steakhouse and leveraging Aave’s lending markets on Avalanche, Earn+ targets rewards of up to 12%. The Upshift vault aims for approximately 11x leverage on Aave, with an initial capacity of $4.5 million. Users benefit from flexible access, as deposits are not locked and withdrawals are processed within 24 hours. Deposit limits depend on account tier, ranging from $20,000 to $200,000. Ethena Pay, available in about 50 countries, enables users to hold dollar balances, make payments, and earn up to 6% APY on USDe, a synthetic dollar token. Cashback is paid in AVAX, and spending is facilitated via a virtual Visa card. The launch of Earn+ also marks a partnership with Aave, aiming to bring onchain yield to mainstream DeFi and enhance yield farming opportunities for users.
