Ethereal

Next generation decentralized spot and perpetuals trading powered by USDe.

Ethereal is a decentralized spot and perpetuals exchange built on the Ethena Network, powered by native USDe collateral. With institutional-grade performance (sub-20ms latency, 1M+ orders/s) and DeFi-enabled self-custody from day one, Ethereal aims to be the premier trading venue for the rapidly growing Ethena ecosystem and beyond.

📋 Requirements

1. Ethereum wallet
2. some USDe (Ethereum network)

You can transfer(a.k.a. “bridge”) your funds between networks through exchanges like Bybit, or through bridge DApps like Jumper.

📄 How to be eligible

1. Head over to the Ethereal website
2. Connect your wallet (Ethereum network)
3. On the Points page, deposit some USDe; your USDe will then be converted to eUSDe If you don’t have USDe yet, you can swap some of your ETH/USDC/USDT/etc on your favorite Ethereum DEX such as LlamaSwap
4. Optional: You can maximize your rewards by depositing your eUSDe on the available vaults(Pendle/Morpho/Euler/etc)
5. Hope for the best!

📝 Quick notes

• Read the docs
• By farming Ethereal points, you’re also effectively farming Ethena points.
• For questions, you can join Ethereal’s Discord/Telegram channel
• Always remember — airdrops are never guaranteed with any platform

🚀 Author’s notes

We still have no idea how the trading experience on Ethereal will be, but they have a good shot of gaining traction because of Ethereal being somewhat tied to Ethena.

Happy farming!