Ethena Labs published its roadmap for 2025 on Jan. 3, which included the reveal of a Telegram application for payments and savings based on its sUSDe stablecoin, aiming to offer a “neobank experience.”
The initiative allows users to send, spend, and save sUSDe directly within the messaging app. Additionally, users can effortlessly transition between sUSDe savings and direct mobile payments via Apple Pay integration.
According to Ethena Labs:
“A dollar with a yield is the most important savings asset on earth to preserve wealth, and it’s the only crypto-enabled product that has the potential to reach a billion users outside of Bitcoin.”
Network to rival Tether
The roadmap highlighted that Ethena’s vision remains to rival Tether as a cornerstone in the crypto ecosystem by evolving from a single-asset issuer to a platform for on-chain financial innovation called Ethena Network.Â
Developers can leverage Ethena’s infrastructure to create new DeFi applications using sUSDe as the foundation. Additionally, the sENA token plays a key role in this strategy, accruing value in a model akin to Binance’s BNB.
Ecosystem applications have allocated significant portions of their token supply for airdrops to sENA holders, aligning incentives and fostering growth.
Ethereal and Derive, two applications announced to be built on Ethena Network, are also essential pieces in Ethena’s roadmap for this year. Ethereal is a perpetual and spot exchange powered by sUSDe that runs on its own application-specific blockchain. It has embedded native rewards and Ethena’s liquidity support.
Derive is an on-chain protocol for options products. sUSDe is the core collateral, and the document states its upcoming token launch is expected to catalyze further adoption.
Dollar is the backbone
Ethena’s roadmap pointed out the significance of dollars as the backbone of on-chain capital flows, from payments and settlements to core DeFi primitives like lending and derivatives.
According to the document, the goal is to become an infrastructure provider where every DeFi protocol based on dollars can be rebuilt and improve its economics.
Furthermore, it predicts the expansion of new stablecoin-based products powered by sUSDe, which will be revealed this quarter. The products include perpetual products, prediction markets, gamble finance platforms, and undercollateralized lending.
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