Ethena makes USDe native on OKX’s X Layer network

DeFi protocol Ethena has launched its USDe synthetic dollar token natively on X Layer, a zero-knowledge layer 2 network operated by OKX. Previously, USDe presence on the chain was limited to bridged assets via LayerZero, but the new native integration allows users to hold and swap the token directly across the chain.

The first major integration is an Aave V3 market, providing OKX Wallet users with direct on-chain access to USDe. Future developments are expected to include liquidity provision and one-click USDe looping features through the OKX wallet.

USDe maintains its value through a delta-neutral strategy, using collateral and hedged perpetual futures positions rather than traditional bank deposits. The launch follows an assessment by LlamaRisk, which supported the Aave V3 listing provided sufficient decentralized exchange liquidity was established.