Ethena is a decentralised finance (DeFi) platform offering a synthetic dollar (sUSDe) that allows users to earn internet-native yield while maintaining the stability of a dollar-pegged asset. Built on Ethereum, Ethena integrates with various DeFi protocols to provide decentralised lending, borrowing, and yield farming opportunities. Launched in 2024, Ethena aims to make stable, yield-generating assets more accessible to users worldwide.