Summary
TLDR: On Ethena, users can deposit stablecoins to receive USDe, which can be staked for additional yield and supplied to other DeFi platforms. Unstaking takes seven days.
Key Points
1. Users can deposit stablecoins such as tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD) and mkUSD on Ethena to receive Ethena’s USDe token.
2. The staked USDe tokens can be supplied to other DeFi platforms to earn additional yield.
3. Unstaking on Ethena takes seven days.