# Ethena Labs USDe Mainnet Launch

By [englishspeak.eth](https://paragraph.com/@englishspeak) · 2024-02-20

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Quick Take
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*   Ethena Labs USDe mainnet launch.
    
*   Starknet DeFi Spring campaign.
    
*   Zaros introduces dual-restaking.
    
*   Gearbox leveraged EigenLayer restaking.
    

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Ethena Labs [announced](https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/lJHZjwoyS7k2UqfrMeOItH_JqRlmk3yJ8_SkrISGpmA?referrerAddress=0xEB40A065854bd90126A4E697aeA0976BA51b2eE7) the public launch of USDe on Ethereum Mainnet. USDe is an overcollateralized stablecoin that offers yield and is backed by stETH and balanced positions in derivatives markets. Ethena describes this stablecoin as an "Internet Bond," reflecting its intention to mirror U.S. treasury bonds. Ethena Labs also [raised](https://twitter.com/leptokurtic_/status/175954636) a $14 million seed extension funding round. sUSDe is a value-accrueing token, representing the value of staked USDe. Ethena also launched the Shard Campaign, a points program for early adopters. The program includes multiple epochs spanning three months, during which users can earn shards by engaging in liquidity provision, bridging to certain Layer 2s, and holding specific governance tokens. USDe has already reached a $270 million marketcap.

**Starknet DeFi Spring Incentives**
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The Starknet Foundation [unveiled](https://www.starknet.io/en/content/starknet-foundation-introduces-the-start-of-defi-spring) the Starknet DeFi Spring Campaign, a program that allocates 40 million STRK tokens in incentives. The campaign adopts a dynamic allocation that rewards participating DeFi protocols based on their activity levels. The campaign starts on February 22nd and will last six to eight months. The campaign includes a series of quests hosted on Intract, offering 15 quests until March 22nd. The initial phase focuses on DEXs such as Ekubo, Jediswap, and Nostra Swap. Subsequent phases will focus money markets and derivatives. A reserve of 10 million STRK tokens is set aside for further incentives in late 2024.

**Zaros Introduces Dual-Restaking**
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Zaros, a perpetuals DEX native to Arbitrum, [introduced](https://twitter.com/zarosfi/status/1759548605470535814) dual restaking vaults, enabling liquidity providers to deposit Liquid Restaking Tokens (LRT) for earning both restaking yields and Zaros trading fees. This initiative builds upon the LRTfi ecosystem, which comprises of protocols that use LRTs. Initially, the feature will support EtherFi's eETH, the largest LRT with $1.25 billion in TVL. Like LSTs, LRTs provide the staking yield, but with the added benefit of restaking yield from EigenLayer once actively validated services go live later in the year. Zaros is yet to deploy its perpetual DEX to mainnet.

**Gearbox Launches Leveraged Restaking**
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Leverage defi protocol Gearbox [launched](https://blog.gearbox.fi/leveraged-restaking-how-and-point-math/) leveraged EigenLayer restaking, allowing users to gain exposure on up to 10x leverage on their collateral. The launch features an initial integration with EtherFi for leveraged EIGEN and EtherFi points. Gearbox Protocol uses a Credit Account system that allows users to deposit collateral in isolated smart contracts that can be used to execute leveraged orders across DeFi protocols.

**Other News**
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*   AltLayer [raises](https://twitter.com/alt_layer/status/1759539337593569666) $14.4m
    
*   Argent [introduces](https://twitter.com/argentHQ/status/1759540227910078708) a portfolio dapp
    
*   Vitalik [looking forward](https://twitter.com/VitalikButerin/status/1759365739671412841) to Verkle Trees
    
*   [EIP-7623](https://twitter.com/nero_eth/status/1759567988099784841): Increase calldata cost
    
*   RSS3 mainnet [update](https://twitter.com/rss3_/status/1759727601051111932)
    
*   Safe grants round 1 [writeup](https://twitter.com/safe/status/1759595391387893927)
    
*   Collective [DAO Catalog](https://www.daocatalog.xyz/)
    
*   Worldcoin [bug bounty](https://twitter.com/worldcoin/status/1759504006911590734)
    

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*Originally published on [englishspeak.eth](https://paragraph.com/@englishspeak/ethena-labs-usde-mainnet-launch)*