# Latest **URL:** https://gov.ethenafoundation.com/latest.md?page=2 [Latest](https://gov.ethenafoundation.com/latest.md) · [Categories](https://gov.ethenafoundation.com/categories.md) · [Tags](https://gov.ethenafoundation.com/tags.md) **Page:** 3 --- ## [Ethena’s 1st Monthly Governance Update](https://gov.ethenafoundation.com/t/ethena-s-1st-monthly-governance-update/544)
**Author:** [@BlockworksAdvisory](https://gov.ethenafoundation.com/u/BlockworksAdvisory)\ **Replies:** 0\ **Last updated:** [April 7, 2025, 4:01pm UTC](https://gov.ethenafoundation.com/t/ethena-s-1st-monthly-governance-update/544 "2025-04-07T16:01:49Z")
Welcome to the first installment of the new monthly Ethena governance update. In this report, we’ll highlight notable developments across the Ethena ecosystem and recap the Risk Committee’s recent efforts, ensuring you s… --- ## [Bybit Incident Post-Mortem: Ethena's Risk Mitigation and Resilience](https://gov.ethenafoundation.com/t/bybit-incident-post-mortem-ethenas-risk-mitigation-and-resilience/518)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [February 28, 2025, 11:59am UTC](https://gov.ethenafoundation.com/t/bybit-incident-post-mortem-ethenas-risk-mitigation-and-resilience/518 "2025-02-28T11:59:22Z")
Introduction Following the recent wallet hack at Bybit, the market quickly adjusted the risk pricing for Ethena’s protocol. Specifically, the secondary market prices for sUSDe and USDe were affected due to approximately … --- ## [Reserve Fund | UBS Money Market Investment Fund ("uMINT")](https://gov.ethenafoundation.com/t/reserve-fund-ubs-money-market-investment-fund-umint/474)
**Author:** [@ryanciz](https://gov.ethenafoundation.com/u/ryanciz)\ **Replies:** 1\ **Last updated:** [February 28, 2025, 11:59am UTC](https://gov.ethenafoundation.com/t/reserve-fund-ubs-money-market-investment-fund-umint/474 "2025-02-28T11:59:17Z")
DigiFT(As authorized distributor of UBS uMINT) Proposal To Ethena Disclaimer: All information provided within this proposal is intended for use by Ethena only and is not intended for public use outside of Ethena’s netwo… --- ## [Derive Ethena Liquidity and USDe Integration](https://gov.ethenafoundation.com/t/derive-ethena-liquidity-and-usde-integration/420)
**Author:** [@ksett](https://gov.ethenafoundation.com/u/ksett)\ **Replies:** 3\ **Last updated:** [January 17, 2025, 12:53pm UTC](https://gov.ethenafoundation.com/t/derive-ethena-liquidity-and-usde-integration/420 "2025-01-17T12:53:17Z")
Summary This proposal requests that Ethena integrate Derive as an eligible venue for a portion of its hedging flow, subject to technical and legal due diligence by the Ethena Foundation. If approved, the proposed integra… --- ## [Proposal: USDtb as a USDe Backing Asset and Eligible Asset for the Reserve Fund](https://gov.ethenafoundation.com/t/proposal-usdtb-as-a-usde-backing-asset-and-eligible-asset-for-the-reserve-fund/385)
**Author:** [@EthenaLabs\_Research](https://gov.ethenafoundation.com/u/EthenaLabs_Research)\ **Replies:** 5\ **Last updated:** [December 11, 2024, 4:20pm UTC](https://gov.ethenafoundation.com/t/proposal-usdtb-as-a-usde-backing-asset-and-eligible-asset-for-the-reserve-fund/385 "2024-12-11T16:20:01Z")
Summary This proposal requests Ethena’s Risk Committee to consider approving USDtb as a backing asset for USDe and as an eligible asset for the Reserve Fund, ahead of USDtb’s launch next week. “USDtb” is a stablecoin cr… --- ## [ENA Fee Switch Parameters](https://gov.ethenafoundation.com/t/ena-fee-switch-parameters/396)
**Author:** [@EthenaLabs\_Research](https://gov.ethenafoundation.com/u/EthenaLabs_Research)\ **Replies:** 3\ **Last updated:** [December 6, 2024, 7:44pm UTC](https://gov.ethenafoundation.com/t/ena-fee-switch-parameters/396 "2024-12-06T19:44:47Z")
Following the general approval of the sENA “fee switch” proposal earlier this month, the Ethena Risk Committee deliberated to crystallize the parameters which the Ethena protocol needed to meet to activate it. After mul… --- ## [Proposal: Onboard SOL as a USDe Backing Asset](https://gov.ethenafoundation.com/t/proposal-onboard-sol-as-a-usde-backing-asset/232)
**Author:** [@EthenaLabs\_Research](https://gov.ethenafoundation.com/u/EthenaLabs_Research)\ **Replies:** 14\ **Last updated:** [November 20, 2024, 4:52pm UTC](https://gov.ethenafoundation.com/t/proposal-onboard-sol-as-a-usde-backing-asset/232 "2024-11-20T16:52:28Z")
Summary This proposal recommends an allocation of USDe’s backing to SOL utilizing substantially the same mechanics as Ethena’s hedging mechanism currently in place with BTC and ETH perpetual futures. The proposed alloc… --- ## [Wintermute Governance: Proposal for ENA Fee Switch](https://gov.ethenafoundation.com/t/wintermute-governance-proposal-for-ena-fee-switch/306)
**Author:** [@WintermuteGovernance](https://gov.ethenafoundation.com/u/WintermuteGovernance)\ **Replies:** 20\ **Last updated:** [November 15, 2024, 8:41pm UTC](https://gov.ethenafoundation.com/t/wintermute-governance-proposal-for-ena-fee-switch/306 "2024-11-15T20:41:44Z")
Summary To date, there has been limited guidance publicly on the structural framework of the Ethena protocol, specifically with regards to the flow of protocol revenue. There has also been no guidance on how ENA could p… --- ## [Hyperliquid Ethena Liquidity and USDe Integration](https://gov.ethenafoundation.com/t/hyperliquid-ethena-liquidity-and-usde-integration/268)
**Author:** [@shoku](https://gov.ethenafoundation.com/u/shoku)\ **Replies:** 9\ **Last updated:** [November 12, 2024, 10:01am UTC](https://gov.ethenafoundation.com/t/hyperliquid-ethena-liquidity-and-usde-integration/268 "2024-11-12T10:01:06Z")
Summary This proposal requests that Ethena integrate the Hyperliquid L1 (“Hyperliquid”) as an eligible venue for a portion of its hedging flow, subject to technical and legal due diligence by the Ethena Foundation. If ap… --- ## [Introducing Ethereal: Request to Ethena Governance on Integration](https://gov.ethenafoundation.com/t/introducing-ethereal-request-to-ethena-governance-on-integration/154)
**Author:** [@Fells0x](https://gov.ethenafoundation.com/u/Fells0x)\ **Replies:** 19\ **Last updated:** [October 24, 2024, 8:27am UTC](https://gov.ethenafoundation.com/t/introducing-ethereal-request-to-ethena-governance-on-integration/154 "2024-10-24T08:27:52Z")
Summary This proposal introduces Ethereal: an integrated spot & perpetual futures DEX built on the upcoming Ethena Network using USDe. We are requesting that Ethereal be directly integrated into Ethena-related reserve ma… --- ## [RWA Reserve Fund Allocation: Winners](https://gov.ethenafoundation.com/t/rwa-reserve-fund-allocation-winners/235)
**Author:** [@EthenaLabs\_Research](https://gov.ethenafoundation.com/u/EthenaLabs_Research)\ **Replies:** 0\ **Last updated:** [October 10, 2024, 11:49am UTC](https://gov.ethenafoundation.com/t/rwa-reserve-fund-allocation-winners/235 "2024-10-10T11:49:19Z")
Summary The Risk Committee has completed its deliberation on the submissions for the Ethena Reserve Fund RWA allocation. This post formally announces the results of the contest and gives a brief overview of the rationale… --- ## [Reserve Fund Application by Aave](https://gov.ethenafoundation.com/t/reserve-fund-application-by-aave/152)
**Author:** [@ACI](https://gov.ethenafoundation.com/u/ACI)\ **Replies:** 0\ **Last updated:** [September 29, 2024, 8:19pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-aave/152 "2024-09-29T20:19:08Z")
Applicant information Name: Aave DAO Key Information: aUSDC is an interest-bearing token representing USDC deposits in Aave’s decentralized lending protocol. Expected APY: Variable with an average of 5.8% over the pas… --- ## [Reserve Fund diversification considerations and USDM (Mountain Protocol)](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-usdm-mountain-protocol/68)
**Author:** [@mcarrica](https://gov.ethenafoundation.com/u/mcarrica)\ **Replies:** 1\ **Last updated:** [September 6, 2024, 7:20pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-usdm-mountain-protocol/68 "2024-09-06T19:20:48Z")
Applicant information Name Mountain Protocol Limited Key Information Address (Headquarters): Rosebank Centre, 5th floor, 11, Bermudiana Road, City, State, Postal Code: Pembroke, Hamilton, HM08. Country: Bermuda Websi… --- ## [Ethena Allocation Template for RWA/Reward-Accruing Assets](https://gov.ethenafoundation.com/t/ethena-allocation-template-for-rwa-reward-accruing-assets/31)
**Author:** [@governanceforum](https://gov.ethenafoundation.com/u/governanceforum)\ **Replies:** 13\ **Last updated:** [August 16, 2024, 5:16pm UTC](https://gov.ethenafoundation.com/t/ethena-allocation-template-for-rwa-reward-accruing-assets/31 "2024-08-16T17:16:26Z")
Summary Entities seeking an allocation from the Reserve Fund or from the USDT backing of USDe, for their RWA/yield-bearing/reward-accruing asset, must complete the following template for submission to Ethena Governance. … --- ## [Reserve Fund diversification considerations and Superform](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-superform/107)
**Author:** [@blakechains](https://gov.ethenafoundation.com/u/blakechains)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:09am UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-superform/107 "2024-08-13T10:09:00Z")
Applicant information Name: Superform Key Information: Superform is the Universal Yield Marketplace, offering a permissionless, non-upgradable, open-source registry of vault opportunities through the Superform Protoco… --- ## [Reserve Fund Application by USD3 and Reserve Protocol](https://gov.ethenafoundation.com/t/reserve-fund-application-by-usd3-and-reserve-protocol/110)
**Author:** [@griffpeer](https://gov.ethenafoundation.com/u/griffpeer)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:09am UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-usd3-and-reserve-protocol/110 "2024-08-13T10:09:15Z")
1. Name: Web 3 Dollar USD3 2. Key Information: Web 3 Dollar (USD3) is a blue chip stablecoin index earning over 6% APY for holders deployed on the Reserve Protocol. USD3 Mandate: A low-risk yield-bearing USD stableco… --- ## [Reserve Fund | Ondo Finance (OUSG)](https://gov.ethenafoundation.com/t/reserve-fund-ondo-finance-ousg/109)
**Author:** [@nathanlallman](https://gov.ethenafoundation.com/u/nathanlallman)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:09am UTC](https://gov.ethenafoundation.com/t/reserve-fund-ondo-finance-ousg/109 "2024-08-13T10:09:13Z")
Applicant information Name: Ondo I LP, an affiliate of Ondo Finance Inc. Email: partnerships@ondo.finance Key Information: OUSG is a tokenized limited partnership interest in Ondo I LP, whose net asset value is backed… --- ## [Reserve Fund | Ondo Finance (USDY)](https://gov.ethenafoundation.com/t/reserve-fund-ondo-finance-usdy/108)
**Author:** [@nathanlallman](https://gov.ethenafoundation.com/u/nathanlallman)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:09am UTC](https://gov.ethenafoundation.com/t/reserve-fund-ondo-finance-usdy/108 "2024-08-13T10:09:11Z")
Applicant information Name: Ondo Finance Inc. (and our controlled affiliate, Ondo USDY LLC) Email: partnerships@ondo.finance Key Information: USDY is a tokenized note secured predominantly by short-term US Treasuries … --- ## [Reserve Fund Application by PV01](https://gov.ethenafoundation.com/t/reserve-fund-application-by-pv01/106)
**Author:** [@shlugs](https://gov.ethenafoundation.com/u/shlugs)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:08am UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-pv01/106 "2024-08-13T10:08:57Z")
Applicant Information Name: PV01 Key Information Company: PV01 has built the next-generation platform for debt capital markets, offering access to institutional grade, yield-bearing and digitally native bonds on publ… --- ## [Reserve Fund Application by Usual](https://gov.ethenafoundation.com/t/reserve-fund-application-by-usual/105)
**Author:** [@iholdspot](https://gov.ethenafoundation.com/u/iholdspot)\ **Replies:** 0\ **Last updated:** [August 13, 2024, 10:08am UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-usual/105 "2024-08-13T10:08:51Z")
Proposal Summary: Integrating USD0++ into Ethena’s Reserve Fund Applicant Information • Name: Usual DAO • Key Information: • Asset Name: USD0++ (Wrapped and locked version of USD0) Address : • Expected APY: Curre… --- ## [Reserve Fund Application by Backed](https://gov.ethenafoundation.com/t/reserve-fund-application-by-backed/99)
**Author:** [@Backed](https://gov.ethenafoundation.com/u/Backed)\ **Replies:** 0\ **Last updated:** [August 12, 2024, 12:44pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-backed/99 "2024-08-12T12:44:39Z")
Applicant information 1. Name: Backed (the brand name of Backed Finance AG, parent company and tokenizer, and Backed Assets (JE) Limited, licensed securities issuer) 2. Key Information: Backed specializes in tokenizin… --- ## [Reserve Fund Application by Maple Finance and Syrup ](https://gov.ethenafoundation.com/t/reserve-fund-application-by-maple-finance-and-syrup/98)
**Author:** [@Martin\_Maple](https://gov.ethenafoundation.com/u/Martin_Maple)\ **Replies:** 0\ **Last updated:** [August 12, 2024, 8:28am UTC](https://gov.ethenafoundation.com/t/reserve-fund-application-by-maple-finance-and-syrup/98 "2024-08-12T08:28:12Z")
Applicant information Name: Maple Finance & Syrup Pool: https://syrup.fi/lend Key Information/Summary $58M+ TVL in Syrup currently, $300M+ TVL on Maple. Maple Finance is the leading institutional lending protocol in t… --- ## [Reserve Fund / Superstate (USTB)](https://gov.ethenafoundation.com/t/reserve-fund-superstate-ustb/66)
**Author:** [@fig](https://gov.ethenafoundation.com/u/fig)\ **Replies:** 1\ **Last updated:** [August 12, 2024, 8:28am UTC](https://gov.ethenafoundation.com/t/reserve-fund-superstate-ustb/66 "2024-08-12T08:28:08Z")
Applicant Information: Name: Superstate Short Duration US Government Securities Fund (“USTB” or the “Fund”) Website: https://superstate.co/ustb Primary Contact Name: Francis Gowen (FIG) Title: Protocol Relations Le… --- ## [Reserve Fund diversification considerations and sGYD (Gyroscope)](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-sgyd-gyroscope/89)
**Author:** [@jooooo5as](https://gov.ethenafoundation.com/u/jooooo5as)\ **Replies:** 0\ **Last updated:** [August 7, 2024, 2:39pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-sgyd-gyroscope/89 "2024-08-07T14:39:20Z")
Applicant information Name: Gyroscope (Gyroscope Foundation) Key Information: Gyroscope issues the yield-bearing stablecoin sGYD, which is based on the ERC4626 standard. It aims to provide a boosted yield rate on … --- ## [sDAI Ethena Reserve Fund Allocation Application](https://gov.ethenafoundation.com/t/sdai-ethena-reserve-fund-allocation-application/86)
**Author:** [@PhoenixLabs](https://gov.ethenafoundation.com/u/PhoenixLabs)\ **Replies:** 0\ **Last updated:** [August 6, 2024, 8:51am UTC](https://gov.ethenafoundation.com/t/sdai-ethena-reserve-fund-allocation-application/86 "2024-08-06T08:51:37Z")
Applicant information Name Phoenix Labs Key Information Asset name: sDAI (Savings Dai) - Etherscan link. sDAI token code: GitHub - sky-ecosystem/sdai: A tokenized wrapper around the DSR. sDAI is a token that represents… --- ## [Reserve Fund diversification considerations and STBT (Matrixdock)](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-stbt-matrixdock/83)
**Author:** [@stB3n](https://gov.ethenafoundation.com/u/stB3n)\ **Replies:** 0\ **Last updated:** [August 5, 2024, 11:25am UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-stbt-matrixdock/83 "2024-08-05T11:25:52Z")
Applicant information 1. Name: Matrixdock STBT 2. Key Information: Key Product Information Short-term Treasury Bill Token (STBT) is designed for accredited investors seeking US treasury yields with their stablecoin h… --- ## [Reserve Fund diversification and Frictionless Institutional Cash Funds](https://gov.ethenafoundation.com/t/reserve-fund-diversification-and-frictionless-institutional-cash-funds/76)
**Author:** [@hougi-pat](https://gov.ethenafoundation.com/u/hougi-pat)\ **Replies:** 0\ **Last updated:** [July 31, 2024, 9:04am UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-and-frictionless-institutional-cash-funds/76 "2024-07-31T09:04:06Z")
Applicant Information Name: Frictionless Markets Sarl & Frictionless Markets Securities (Luxembourg) as a registered intermediary of BlackRock Institutional Cash Series PLC, a UCITS V fund registered in Ireland. Frictio… --- ## [Reserve Fund diversification considerations and Etherfuse CETES](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-etherfuse-cetes/71)
**Author:** [@etherfuse](https://gov.ethenafoundation.com/u/etherfuse)\ **Replies:** 0\ **Last updated:** [July 30, 2024, 1:59am UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-etherfuse-cetes/71 "2024-07-30T01:59:36Z")
Applicant information Etherfuse looks forward to participating in Ethena’s allocation. We can help diversify by allocating a portion of the fund to safe, high-yield Mexican treasuries. Expected APY : The expected A… --- ## [Reserve Fund diversification considerations and USDL (Lift Dollar)](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-usdl-lift-dollar/73)
**Author:** [@Paxos-International](https://gov.ethenafoundation.com/u/Paxos-International)\ **Replies:** 0\ **Last updated:** [July 30, 2024, 5:40pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-diversification-considerations-and-usdl-lift-dollar/73 "2024-07-30T17:40:19Z")
Applicant Information Name Paxos Issuance MENA, Ltd (Paxos International) Key Information Expected APY ~5.05% - see this dashboard. Yield is distributed daily, directly on-chain at around 8:30am EST. Underlying a… --- ## [OpenEden $TBILL Ethena Reserve Fund Allocation Application](https://gov.ethenafoundation.com/t/openeden-tbill-ethena-reserve-fund-allocation-application/67)
**Author:** [@alex\_openeden](https://gov.ethenafoundation.com/u/alex_openeden)\ **Replies:** 0\ **Last updated:** [July 29, 2024, 8:23am UTC](https://gov.ethenafoundation.com/t/openeden-tbill-ethena-reserve-fund-allocation-application/67 "2024-07-29T08:23:02Z")
Applicant information 1. Applicant Information Entity Name: OpenEden Group Address (Headquarters): 1 Kim Seng Promenade #11-01 Great World City City, State, Postal Code: Singapore, 237994 Country: Singapore Website:… [Previous page](https://gov.ethenafoundation.com/latest.md?page=1) [Next page](https://gov.ethenafoundation.com/latest.md?page=3)