Ethena, the protocol behind the USDe synthetic dollar, is integrating its product suite into Robinhood Chain, the newly launched Ethereum Layer 2 network that went live on July 1. The partnership positions Ethena’s yield-bearing assets within Robinhood’s freshly minted collateral ecosystem, bringing decentralized finance tools to one of the largest retail trading platforms in the US.
The collaboration arrives alongside Robinhood Earn, a decentralized lending product that lets users lend USDG stablecoins through self-custody wallets directly within the Robinhood app. The estimated annual percentage yield sits at around 7%.
How Robinhood Earn actually works
The lending infrastructure runs on Morpho, an established decentralized lending protocol, with Robinhood Chain serving as the settlement layer underneath. Ethena joins a roster of supporting partners that includes Steakhouse, Spark, and Maple.
Losses stemming from cyber incidents or smart contract vulnerabilities are covered through policies from Lloyd’s of London and RELM. Users interact with the product through self-custody wallets available in the Robinhood app.
