Ethena Labs has listed its USDe and sUSDe perpetual tokens (PTs) on Aave's Plasma instance, each with a supply capacity of $200 million. This move provides users with access to leveraged yield opportunities, further embedding Ethena's stablecoins into the DeFi ecosystem.

To attract users, Plasma is offering a competitive ~4% APY borrow rate for USDT, which is significantly lower than market rates. These incentives are expected to continue in the coming months, aiming to establish Plasma as a prime venue for leveraged PT exposure. The initiative is part of a larger strategic partnership with Binance, which will see USDe integrated across its platform, reaching over 280 million users and more than $190 billion in assets.

The collaboration includes making USDe and sUSDe core assets within Plasma's ecosystem, including integrations with Fluid, Curve, and Balancer. The deposit caps for sUSDe and USDe on Aave Core have also been increased to $2.4 billion and $2 billion, respectively, signaling strong institutional support and a push for wider adoption.