In less than two weeks since @Plasma's launch, @ethena_labs has captured around 41% of Plasma's market share.
Let's explore how Ethena has achieved it👇
Plasma is a blockchain built for stablecoin infrastructure.
Rather than competing, it integrates yields from both crypto and real-world assets, such as @ether_fi, @aave, @USDai_Official, and @WildcatFi, creating a unique synergy of payments, DeFi yield, and RWA utility.
The expansion didn't stop there. @pendle_fi also launched on Plasma with initial pools including sUSDe & USDe.
Despite being live for less than a week, Pendle has already captured 6.4% of Plasma’s total TVL.
Currently, Pendle's arrival on Plasma has helped Ethena increase its TVL to $2.106B, accounting for 41.71% of Plasma’s total TVL - with 89.59% sitting on Aave and 10.41% on Pendle.
The upcoming catalyst for Ethena on Plasma
It's only a matter of time before Aave supports PT-sUSDe and PT-USDe, as seen on Ethereum.
Once that happens, Ethena surpassing 50% of Plasma’s total TVL seems inevitable.
Pendlethenaave!!!
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