Head of Research @ethena | Prev. Research @KaikoData
Joined October 2011
- Tweets1.1K
- Following993
- Followers34.3K
- Likes4.6K
Conor Ryder retweeted
Your balance earns every day. Now you can see exactly how much.
→ Open the earnings sheet from Home
→ Tap any bar to see that day's balance and rewards
→ Zoom out from a week to a full year
Live now on @EthenaPay.
Conor Ryder retweeted
just broke 1000 users on @EthenaPay over the week end
12,000 more on the waitlist
first big new feature dropping soon
android in development
more geos in the works
literally so fucking early
Conor Ryder retweeted
$3 million in card volume through the internet money app, with only a small percentage of the waitlist onboarded so far.
Source: @Paymentscan
Conor Ryder retweeted
Had a few users flagging a large investor wallet moving coins in the last 48hrs - can confirm this is a security precaution related to the recent hardware wallet concerns, not coins being moved and sold.
Conor Ryder retweeted
Demand for @EthenaPay keeps growing. We're now adding 100 users from the waitlist every day.
600+ new users onboarded to the internet money app last week alone.
Still waiting for access? Comment below and we'll slide into your DMs.
Conor Ryder retweeted
Live now, through October 12.
100% cashback on your first Grab ride.
For eligible users. Terms apply.
We know TOKEN2049 keeps you moving all week.
Your first Grab ride is on us. 100% cashback with @EthenaPay.
See you there.
Conor Ryder retweeted
The @ether_fi team executed one of the most impressive product expansions in the last cycle growing into the most successful self custodial neobank in the space. We've been impressed from the outside on their execution quality, consistency building through the bear market and obsessive focus on product - one of the few teams we look up to at Ethena.
Yes it is somewhat competitive with Ethena Pay, but the very best builders just focus on building the best product with the best partners, and look beyond the crypto-native user set as the addressable market opportunity. Ethena will power their new whitelabel stablecoin end-to-end, with USDe already supporting their separate earn savings vaults.
In order for these applications to fully capture their revenue opportunity, they need to control the deposit and float via stablecoin balances. This is a trend @ether_fi will pioneer and I'm sure we will see others will follow closely behind.
EtherFi is launching their own stablecoin, powered by Ethena Whitelabel.
@ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena.
Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards.
The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.
Conor Ryder retweeted
EtherFi is launching their own stablecoin, powered by Ethena Whitelabel.
@ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena.
Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards.
The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.
Conor Ryder retweeted
We know TOKEN2049 keeps you moving all week.
Your first Grab ride is on us. 100% cashback with @EthenaPay.
See you there.
Conor Ryder retweeted
Since the initial airdrop in 2024 token incentives related to USDe growth have declined by roughly ~85% from 2024 to this year.
As of the end of this month there will be zero token incentives and inflation on a go forward basis related to USDe.
For all of those who participated and helped to bootstrap the product to where it is today: thank you for the support.
Conor Ryder retweeted
Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch.
This expands the addressable market of underlying collateral from $2.5 trillion of crypto to $150 trillion+ of real-world assets.
As part of the partnership, bStocks will serve as tokenized spot collateral, hedged with Binance USDT-denominated equity perpetuals - the same delta-neutral structure Ethena has securely executed across crypto assets since inception.
Importantly, Binance provides lower ADL priority for eligible delta-neutral accounts including Ethena's, adding another layer of risk mitigation for USDe holders.
Binance equity basis has averaged ~11%+ annualized over the past 6 months, while open interest has grown on average ~30% per month in the last 3 month period.
We expect the market opportunity size for equity perpetuals to far exceed the $15b+ of crypto perpetuals captured by Ethena last cycle.
Allocations begin today.
Marked in the chart USDe supply growth when APY crossed 4.5%, up $1b since the lows
Just printed 5% APY this week, with perp allocation up from 1% to 20%
Higher
Conor Ryder retweeted
Binance Wallet has enabled USDe rewards.
USDe has been selected as one of only three assets eligible for @BinanceWallet's new Hold to Earn - and offers the highest rate available.
Hold USDe and earn rewards automatically, paid by Binance.
Who says you need to stake to earn?
Activate Hold to Earn for U, USDS, and USDe in your #Binance Keyless Wallet and earn automatically. @ethena @sparkfinance @SkyEcosystem @UTechStables
A HOLD new way TO EARN is here. Up to 4.75% APR 👉 binance.com/en/support/annou…
Conor Ryder retweeted
Users on the waitlist continue to be added to the @EthenaPay app every day, with over 600 gaining access in the past week alone. Enable notifications so you know the moment you're in.
If you're on the waitlist, your turn is getting closer.
Conor Ryder retweeted
Been using and testing @EthenaPay for a week. I like it more than @ether_fi even tho I have been using etherfi for a while and am in Luxe tier
- 5% apy in ethena is quite decent, especially you receiving it automatically. You have to manually lock it in etherfi and still got lock up period.
- ethena UI is better (to me)
- new policy for etherfi re cashback etc makes it way less attractive esp w the lock up. I can’t claim the benefits from etherfi membership too somehow. Seems it’s just an advertisement
- cashback from ethena is very decent. 4% even basic tier. Tho it is denominated in Avax, which tbh I’m just gonna sell right away (if its $hype, then I’ll just hold)
- anyhow, my corporate card is still using etherfi (not sure if there’s better option now), but will certainly switch if ethena got corporate card option in the future
Bought some $ena a while ago too, see if it will pump further when they open up the ethena pay access (soon?)
Introducing Ethena Pay: the internet money neobank, built on @avax.
Live now to download on iOS.