DeFi· ★★★· bearish·

Ethena Ends ENA Incentives for USDe on September 30

  • —ENA incentives for USDe and sUSDe end October 1, 2026
  • —Incentives down 85% since 2024 airdrop, over $750 million paid out
  • —USDe supply fell from $15 billion to $4.9 billion
  • —sUSDe yield was about 5.01% annualized as of September 15, 2026
Why it matters: USDe yield now relies entirely on market funding rates, making returns more volatile for holders.
#ENA#USDE
Source: CryptoTicker
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