# \#reserve-fund **URL:** https://gov.ethenafoundation.com/tag/reserve-fund/1.md [Latest](https://gov.ethenafoundation.com/latest.md) · [Categories](https://gov.ethenafoundation.com/categories.md) · [Tags](https://gov.ethenafoundation.com/tags.md) --- ## [Reserve Fund: March 2026 Update](https://gov.ethenafoundation.com/t/reserve-fund-march-2026-update/775)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [April 8, 2026, 12:51pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-march-2026-update/775 "2026-04-08T12:51:31Z")
Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We periodically re-evaluate the fund’s size based on market conditi… --- ## [Reserve Fund: January & Early February 2026 Update](https://gov.ethenafoundation.com/t/reserve-fund-january-early-february-2026-update/748)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [February 10, 2026, 9:20am UTC](https://gov.ethenafoundation.com/t/reserve-fund-january-early-february-2026-update/748 "2026-02-10T09:20:35Z")
Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will periodically re-evaluate the fund’s size based on market co… --- ## [ Reserve Fund Subcommittee November 2025 Update](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-november-2025-update/727)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [December 9, 2025, 2:50pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-november-2025-update/727 "2025-12-09T14:50:03Z")
Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will periodically re-evaluate the fund’s size based on market co… --- ## [Reserve Fund Subcommittee October 2025 Update](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-october-2025-update/709)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [November 3, 2025, 3:46pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-october-2025-update/709 "2025-11-03T15:46:57Z")
Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will periodically re-evaluate the fund’s size based on market co… --- ## [Reserve Fund Subcommittee September 2025 Update ](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-september-2025-update/703)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [October 9, 2025, 8:42pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-september-2025-update/703 "2025-10-09T20:42:49Z")
Ethena Monthly Reserve Fund Recommendations: September Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will peri… --- ## [Reserve Fund Subcommittee August 2025 Update](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-august-2025-update/685)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [August 26, 2025, 8:29am UTC](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-august-2025-update/685 "2025-08-26T08:29:59Z")
Ethena Monthly Reserve Fund Recommendations: August Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will periodi… --- ## [Reserve Fund Subcommittee July 2025 Update](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-july-2025-update/623)
**Author:** [@LlamaRisk](https://gov.ethenafoundation.com/u/LlamaRisk)\ **Replies:** 0\ **Last updated:** [July 17, 2025, 3:37pm UTC](https://gov.ethenafoundation.com/t/reserve-fund-subcommittee-july-2025-update/623 "2025-07-17T15:37:37Z")
Ethena Monthly Reserve Fund Recommendations Summary This analysis is presented by LlamaRisk and Blockworks Advisory, members of the Risk Committee leading risk recommendations on the Reserve Fund. We will periodically re… --- ## [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… --- ## [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… --- ## [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 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 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…