Ethena Airdrop Guide

Ethena Labs season 1 ended with many users earning thousands from it with it being the largest restaking protocol on ethereum. Season 2 brings the Sats Campaign to celebrate the onboarding of bitcoin as backing asset for USDe. Backed by big names such as Arthur Hayes, Dragon Fly, Binance, OKX, and others, Athena already has $2B in TVL with deep DeFi integrations.

Season 2 involves some huge partnerships with the likes of Mantle, EigenLayer, and Pendle. In this article we’ll explore the mechanics of Season 2 as well as ways to maximise Sats while earning Eigen Layer points at the same time.

How to Join Ethena Airdrop:

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Understand the System:

The Athena Finance Token operates on a pay-to-play basis, where the more you invest, the higher your potential rewards. Rewards are distributed in the form of SATs, which are crucial for earning airdrops in Season 2.
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Acquire USDE or increase holdings

USDE is the primary token used in the Athena system. To participate, you’ll need to purchase USDE. This can be done directly on the Athena platform or through other exchanges. If you already participated in season 1 then to qualify for a 20% boost in SATs (the new shards) for season 2, you must hold at least the same amount of USDE as in season 1 or increase it. It is crucial not to break vesting conditions, such as exiting incentivized pools or selling all your USDE from season 1.
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Use of USDE on Mantle L2

Season 2 introduces integrations with L2 solutions, particularly Mantle. You can use your USDE in various DeFi applications on Mantle to earn SATs. Options include providing liquidity on Merchant Moe, using USDE on the Intent X platform, or other DeFi apps to leverage your USDE and earn rewards.
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Buying and Bridging USDE

Purchase USDE directly from Athena or another source, then bridge it to the Mantle L2 using services like Stargate Finance. Alternatively, you can bridge other assets to Mantle and swap them for USDE on a decentralized exchange such as Merchant Moe.
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Leveraging USDE on Pendle’s Platform

Pendle, now available on Mantle L2, allows you to use leverage and participate in different yield programs. You can choose to buy PT USDE for a fixed yield, provide liquidity with your USDE, or maximize your airdrop potential by purchasing YT USDE, which provides substantial leverage at the cost of your capital’s value at maturity.

Other options include:
- Merchant Moe and INIT: Provide liquidity and engage in DeFi protocols to earn up to 20x Sats on USDE.
- IntentX: Use USDe as collateral to further earn Sats.
Need some help? simply watch the step-by-step video below or join our discord.

Join Airdrop

Additional Information and Considerations

Transaction Costs: Leveraging USDE on Mantle L2 offers the advantage of lower transaction costs compared to Ethereum Mainnet.
Risks and Rewards: While there are significant potential rewards, the strategies discussed involve various risks, including smart contract risks and the potential loss of capital. It’s essential to conduct thorough research and consider your financial situation before participating.
Limited Cap Space: The cap space for participating in these strategies is limited, so timely action is necessary to secure your position.

For the full Season 2 Sats Campaign read more more here.