Ethena Pay Earn+ Vault Leverages USDe Against USDT Oracle Gap
Photo: The Currency Analytics
Community Trust Score Verified 92 % Real Verified 13 votes Updated 51 seconds ago Ethena Pay launched its Earn+ vault on October 28, pairing USDe collateral with USDT borrowing on Aave v4 on Avalanche. Operated by Upshift and Steakhouse, the service targets 11x leverage and advertises yields up to 12% APY. A technical assessment by Aave Labs found a structural gap: the USDe oracle on Avalanche follows the USDT price, meaning it would not reflect a USDe-specific downside depeg. The Earn+ strategy involves borrowing USDT against USDe.
Source: The Currency Analytics
