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Launch of Season Zero program on Ethereum mainnet in February
Integration of eUSDe with major DeFi protocols like Pendle, Aave, Morpho, Spark, Euler, and many others
Pre-deposits surpassed $1B with over 30,000 unique depositors
Private testnet app released in April 2025 with a small cohort of community members
Continuous product improvements including advanced order types, native USDe rewards, and other UI/UX improvements & bug fixes
Public testnet app launched in June with several thousand active users testing, providing feedback, and entering testnet trading competition in July
The end of Season Zero on August 14th will officially mark the beginning of Ethereal’s transition from testnet to mainnet, as well as the kickoff of Season One: Epoch 1. Each epoch will introduce new dimensions to the Ethereal product suite (described below) and expand the scope of features eligible for points emissions.
To accelerate the launch of Ethereal mainnet, we are currently in the process of preparing for a deployment of the Ethereal chain on top of Arbitrum One mainnet, with a plan in place to migrate to Converge mainnet when it becomes available.
As a show of appreciation for early community members, all Season Zero depositors are eligible for a 100% boost in Season One points (capped at total Season Zero points, applied at the end of Epoch 1). Additional information will be shared prior to the start of each epoch.
A short transitionary period between Season Zero and the launch of Ethereal Mainnet where users can continue earning Ethereal Points (0.01 daily points per eUSDe) and Ethena Rewards (30x multiplier). Existing eUSDe integrations within protocols like Aave, Euler, Strata, and others will continue to earn points during Epoch 1.
First phase of Ethereal mainnet rollout - users can earn Ethereal Points as well as USDe rewards and Ethena Rewards by simply holding USDe on Ethereal. Alpha testers (waitlist-gated) also earn trading rewards (details to follow).
Public beta for Ethereal - all users are eligible to earn Ethereal Points, USDe rewards, and Ethena Rewards for trading and/or holding a balance on Ethereal.
Additional features are incorporated into Season One as they’re supported on Ethereal, including:
New pairs and advanced trading features
Integrated money markets
Community LP vaults
Other ways to earn using Ethereal
We are extremely grateful to our early community members for their support and enthusiasm as Ethereal progresses in its mission to become DeFi everything app powered by USDe. Onwards and upwards!
Stay up to date with the latest news and developments by following us on our socials and joining the Ethereal community on discord:
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