Ethena Enhances Its Incentive Program with New Exchange Points

The Ethena Foundation has introduced a new initiative to stimulate trading activity on its network. The new incentive program introduces “Ethena Exchange Points,” a six-month reward system designed to reward users who perform genuine transactions using USDe, Ethena’s native stablecoin with a market capitalization of $6.33 billion.

How the Reward Program Works

The program consists of two complementary tracks: the “Ethereal Exchange Rewards” project and the “HyENA Points” project, both aimed at traders who use USDe as collateral on platforms compatible with Ethena technology. According to PANews, the system distributes up to 100 million points weekly to eligible users, with results updated at the end of each weekly cycle.

A key aspect is that the new program operates independently and can be combined with the ongoing fifth season points program, offering traders opportunities for dual reward accumulation.

Market Manipulation Protections

To maintain the integrity of the program, Ethena has implemented sophisticated anti-manipulation measures. The system is designed to identify and exclude irregular activities such as self-trading and wash trading, preserving the ecosystem’s quality. Additionally, the foundation reserves the right to impose limits on individual accounts and conduct post-distribution reviews to ensure fairness among all participants.

USDe and Benefits for Traders

USDe maintains a stable value of $1.00 with minimal movements over the past 24 hours, providing a solid base for margin operations. With a community size of over 6.3 billion tokens in circulation, the program aims to expand USDe usage within supported DEX ecosystems, turning genuine trading activity into tangible earning opportunities through the new incentive system.