Ethena points programmes on Pendle

4 live points markets · 2 flagged

Updated just now

Ethena's points are reachable through underlyings that behave nothing alike. sUSDe is a dollar-denominated staked position, so most of what is at risk while the points accrue is the yield being given up to hold it. sENA is the staked form of Ethena's own token, so the same points are bought with an exposure that moves with ENA itself. Choosing between them is choosing a risk shape rather than a payout. The sUSDe side adds a second axis: where it is listed on more than one chain and against more than one expiry, a single exposure carries several prices and several end dates at once. One line per market is what every hub here gets. What is particular to this page is that several of those lines name the same token, so what separates two of them is chain, term and price rather than what is being bought at all.

4 live Pendle points markets for Ethena across 1 asset and 3 chains. airdrop confirmed.

Programme

3 farms with a programme on record

Airdrop status and published programme dates for every Ethena farm, one row per farm. Sortable by column.
Farm Airdrop Snapshot Season ends TGE
ethena:senaS6 ✅ confirmed — ~Sep 25 · passed Sep 25 · passed
ethena:susdeS6 ✅ confirmed — ~Sep 25 · passed Sep 25 · passed
ethena:usdeS6 ✅ confirmed — ~Sep 25 · passed Sep 25 · passed

Reading these rows

sUSDe and sENA are kept under separate farms, and Pts/$ is commensurable only between markets sharing a farm. Where more than one sUSDe row appears, set them against each other; an sENA figure, whenever one is listed, is not read on the sUSDe scale, and no figure here converts between them. A Pts/$ cell's tooltip shows whether that figure is a points multiple or YT price leverage per dollar. Every date on record for these farms is in the Programme table above. Each link below names the Programme cells its source stands behind and the day it was read.

Assets and chains

Assets
sUSDe
Chains
Ethereum · Monad · Plasma

Markets

4 live routes on Pendle

Every live Pendle points market for Ethena. One row per market: points exposure per dollar, the annualised cost of carry, the multiplier, TVL and its 24-hour change, end and programme dates, airdrop status and any blockers found. Sortable by column. Market names open the market on Pendle in a new tab; farm names open that farm's page.
Farm Market Pts/$ Carry Mult TVL Δ24h Ends Snapshot TGE Airdrop Status
ethena:susde sUSDe ethereum
factors
  • exposure21.8
  • certainty25.0
  • timing0.0
  • crowding15.0
  • integrity10.0
×20 · 4.9% carry · +0.022% · snapshot — · TGE Sep 25 · passed · ✅ confirmed 		3,96530-day range at today's multiplier: 2,136–4,054 Pts/$; today is 95% of the way up it, over 716 readings. 4.9% ×20 $26.1M +0.022% ~ended — Sep 25 · passed ✅ confirmed ⚪
ethena:susde sUSDe plasma
factors
  • exposure22.5
  • certainty25.0
  • timing0.0
  • crowding0.0
  • integrity10.0
×20 · 4.1% carry · +11.5% · snapshot — · TGE Sep 25 · passed · ✅ confirmed 		1,778 4.1% ×20 $39K +11.5% ~ended — Sep 25 · passed ✅ confirmed ⚪
ethena:susde sUSDe monad
factors
  • exposure21.5
  • certainty25.0
  • timing0.0
  • crowding15.0
  • integrity0.0
×20 · 5.1% carry · -16.6% · snapshot — · TGE Sep 25 · passed · ✅ confirmed only 2.8d to maturity (below the 7d floor) 		51,75530-day range at today's multiplier: 4,495–51,755 Pts/$; today is 100% of the way up it, over 716 readings. 5.1% ×20 $16.6M -16.6% ~ended — Sep 25 · passed ✅ confirmed 🔴
ethena:susde sUSDe plasma
factors
  • exposure21.7
  • certainty25.0
  • timing0.0
  • crowding15.0
  • integrity0.0
×20 · 4.9% carry · -0.8% · snapshot — · TGE Sep 25 · passed · ✅ confirmed only 2.8d to maturity (below the 7d floor) 		53,88430-day range at today's multiplier: 3,944–53,884 Pts/$; today is 100% of the way up it, over 716 readings. 4.9% ×20 $33.5M -0.8% ~ended — Sep 25 · passed ✅ confirmed 🔴

A trap row with no sentence under it is flagged on a field nobody has recorded — not on a finding.

Each bar is that factor's share of its own maximum. On a ranked row the five add up to score_v1; on a flagged row score_v1 is 0.

Where a market matures before its season ends, nothing on record says whether points still count — check the programme.

What the engine flagged

4 live routes scanned

Side by side