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USDe Earn

  • Updated

Overview

USDe Earn allows users to earn daily rewards on USDe holdings while maintaining the flexibility to mint and redeem USDe from supported stablecoins like USDT and USDC. This feature is integrated seamlessly with the existing Earn experience, with minimal changes to the interface.

 

With USDe Earn, users can:

  • Identify USDe earn opportunities in the Earn tab.
  • Receive rewards in USDe.
  • View detailed earn history denominated in USDe.
  • Mint and redeem USDe from USDT and USDC directly within the platform.
  • Trade the USDe/USDT spot pair.

 

How USDe Earn Works

Earn History

  • USDe earn history is displayed in USDe units.
  • Daily rewards accrual begins within an hour after the deposit or minting completion.
     

Rewards Calculation

  • Base APR: Please refer to the Earn Page.
  • The Base APR for USDe Earn is a floating rate and may fluctuate over time based on market conditions and Ethena’s rate adjustments.
  • Rewards are calculated including unrealized P&L, but excluding amounts pending for minting or redemption.
  • Rewards are distributed daily in USDe.
  • USDe balances above 200,000 USDe will receive APR based on Ethena's variable rate that is updated weekly.


APR Calculation Examples 

Example 1: Base APR Only

  • USDe balance: 10,000 USDe
  • Base APR: 4.25% 
  • Estimated annual rewards: 10,000 × 4.25% = 425 USDe per year
  • Daily rewards: 425 ÷ 365 ≈ 1.16 USDe/day


Minting and Redemption

Users can mint USDe from USDT or USDC and redeem USDe back to these stablecoins using the Flipster platform.

  • Completion of minting or redemption is confirmed via push notifications and on-screen messages.
  • All successful minting and redemption records are displayed in conversion history for transparency.

Learn more:
How to Mint USDe 
How to Redeem USDe 




Terms and Conditions

1. By participating in the USDe reward program ( “USDe Rewards”), you have agreed to be bound to these terms as well as the Flipster Terms of Use and other relevant terms, rules, and guidelines on the Site or the mobile application. In the event of any conflict or inconsistency, the terms herein shall prevail with respect to the program contemplated hereunder unless expressly stated otherwise.
2. The rules of the USDe Rewards are as published on the Site and the mobile application. 
3. You agree and acknowledge that Flipster makes no representations or warranties of any kind, express or implied, regarding USDe, its value, stability, or functionality. USDe is a digital asset developed and issued by Ethena BVI Limited, and by holding or using USDe, you are subject to their terms and conditions (https://docs.ethena.fi/resources/usde-terms-and-conditions).
4. Participation in any promotion involving USDe is at your own discretion and risk. Flipster shall not be responsible or liable for any loss, damage, or claim arising from or in connection with your use, holding, or transacting with USDe.
5. We may amend the terms and/or rules of the USDe Rewards from time to time at our sole discretion. If we do, we will provide you with notice of such amendments by posting the updated terms on the Site and the mobile application.
6. We reserve the right of final interpretation of the terms of the USDe Rewards.

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