Ethena Labs Reveals 2025 Roadmap Following $6 Billion USDe Milestone
Ethena (ENA), a DeFi protocol on Ethereum focused on creating a synthetic dollar, has outlined an ambitious roadmap for 2025. In 2024, Ethena's synthetic dollar, USDe, became the third largest USD asset in crypto, reaching a valuation of nearly $6 billion.
Ethena achieved $100 million in revenue rapidly, second only to Solana, and surpassed a run-rate annualized revenue of $1.2 billion by December 2024.
The ENA token is valued at approximately $3.6 billion, with a 24-hour trading volume around $606 million. Over four months, ENA's price surged over 500 percent, trading at about $1.22 as of January 3.
What to Expect from Ethena Project in 2025
Ethena's 2025 roadmap aims to grow USDe into a $25 billion project. The protocol is utilized by various DeFi platforms, including Pendle (PENDLE), which relies on USDe for up to 50 percent of its revenue.
Ethena Labs plans to expand into the TradFi sector, targeting opportunities exceeding $20 billion. The entry of BlackRock, Franklin Templeton, and Fidelity into Web3 has altered industry dynamics significantly.
A new product, iUSDe, will be launched in 2025, featuring wrapped contracts that allow transfer restrictions while maintaining similarities to sUSDe. This product is anticipated to appeal to fixed-income portfolios, offering a 20 percent annual yield amid declining government bond rates.
Additionally, Ethena plans to introduce a dedicated Telegram mini app aimed at onboarding nearly 1 billion users to sUSDe and will connect payments directly to Apple Pay for seamless transactions.
Ethena's initiatives are supported by prominent Web3 investors, including Binance Labs, Wintermute, Dragonfly, and OKX Ventures.