Ethena is rewriting what digital dollars look like—with USDe, a synthetic dollar fully backed by crypto and stabilized through delta-neutral strategies, all without reliance on traditional banks.
Season IV of the Shard Campaign is now live, and it’s your best chance to farm $ENA by taking DeFi-native actions:
Stake into sUSDe
Lock ENA into sENA for up to 40× multipliers
Provide liquidity in supported pools
Refer others and grow your impact
Each action earns shards, which determine your airdrop size. The more active you are, the bigger your $ENA allocation.
Plus:
– Loyalty multipliers from past seasons carry over
– Exclusive boosts through partners like Ethereal, Derive, Echelon, and Terminal Finance
– Up to 60× multipliers via Pendle, Morpho, Gearbox, and Aave integrations
Time to complete: 15–30 min (initial setup), daily/weekly engagement optional
Risk level: Medium (DeFi exposure, volatility of assets)
Participation cost: $1+ in USDe, ENA, or supported LP tokens
Visit the Airdrop Dashboard → Head to Ethena.fi and connect your wallet
Mint USDe or stake into sUSDe to start earning shards
Lock ENA into sENA to activate up to a 40× multiplier
Boost your campaign by providing liquidity or using integrated partners like Pendle, Gearbox, and Morpho
Refer others to earn a percentage of their shard generation
Check for past rewards → If you joined previous seasons, claim on Liquifi
📌 Note for EU/EEA holders: A regulated redemption program is available at ethena.fi/redemption until August 6, 2025.
Ethena Labs is building the world’s most resilient synthetic dollar: USDe—a decentralized, delta-neutral stable asset fully backed by crypto collateral. With integrations across Solana, Arbitrum, Blast, Pendle, Aave, and more, Ethena is at the heart of the future DeFi stack.
The $ENA token governs the protocol and unlocks deep integration with the broader DeFi landscape.
Global operations continue under Ethena (BVI) Limited, while EU redemption is managed by Ethena GmbH, which is winding down operations post-MiCAR withdrawal.
Please be aware that these are not the official deadlines. We’ve conducted a thorough search, but no confirmed information is available at the moment. However, we kindly recommend proceeding with urgency. As soon as we have accurate deadlines, we will promptly update the information on this page.