Ethena Pay Adds Earn+ Through Aave V4 Lending on Avalanche
Summary
Ethena Pay’s optional Earn+ product routes user deposits into an Upshift vault curated by Steakhouse, using Aave V4 on Avalanche. Users choose how much to allocate, and withdrawals are stated to be processed within 24 hours. Aave says it does not operate or manage the vault. The strategy supplies USDe and borrows USDT, so rewards depend on lending returns, borrowing costs, fees and possible losses—not a guaranteed fixed rate. Withdrawal timing and liquidity depend on several layers, including the vault strategy and app. Users should assess risks such as collateral valuation, liquidation, smart contracts and strategy discretion, rather than assuming Aave’s involvement guarantees the whole product.
