Ethena Labs is a decentralized protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible and permissionless dollar denominated savings instrument - the 'Internet Bond'.

Ethena’s synthetic dollar, USDe, will provide the first censorship resistant, scalable and stable crypto-native solution for money by delta-hedging staked Ethereum collateral. USDe will be fully collateralized transparently onchain and free to compose throughout DeFi.

The ‘Internet Bond’ is built upon USDe and will combine yield derived from staked Ethereum as well as the basis in both perpetual swap and futures markets, to create the first onchain bond that can function as dollar denominated savings instrument for users worldwide Link.

Welcome Ethereum's Ethena Comprehensive Analysis

This comprehensive dashboard provides an in-depth analysis of Ethena, a synthetic dollar protocol built on the Ethereum blockchain. The dashboard is designed to investigate and illustrate various functions within the Ethena platform.

The first function explored on this dashboard is the Buy Sector, where users can purchase USDe using stablecoins such as USDT, USDC, DAI, FRAX, and more. This function is detailed in the Buy Sector of the dashboard.

Moving on, the second function of Ethena Finance involves users staking their USDe to earn sUSDe along with APY. Additionally, users have the ability to unstake their USDe. A comprehensive overview of Stake function can be found in the USDe Stake sector.

The next function analyzed on the dashboard is the provision of liquidity for pools, including USDe-USDC, USDe-crvUSD, USDe-FRAX, and USDe-mkUSD. Currently, only these pools are active, and their details are explored in the LP Sector of the dashboard.

In the final sector of the dashboard, the Lock Sector is investigated. After users provide liquidity to pools, they receive specific tokens that can be locked into the Ethena platform. This sector provides insights into the details of the locking process.

To enhance the exploration of Ethena Finance, Flipside Database, specifically the Ethereum Schema, was employed. This ensures a robust and comprehensive analysis of the platform's data.