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This article provides a detailed overview of the Ethena protocol season 2 event, which rewards its governance token ENA by accumulating points (Sats). It introduces three different strategies to participate in Ethena's airdrop mining, including the low-risk strategy of holding and staking USDe, the medium-risk strategy of purchasing USDe YT (yield tokens) on Pendle, and the high-risk strategy of combining ENA and USDe YT. The article also provides calculation examples of potential returns on investment (ROI) and annual percentage yields (APY) based on different strategies and discusses the risks and rewards of these strategies.

Looking ahead, Bittensor is expected to continue to break through in multiple dimensions and reshape the AI industry landscape in the future. On the technical front, with the overcoming of computational bottlenecks, the application of emerging distributed computing technologies and the phased achievements of quantum computing will exponentially improve the efficiency of model training, enabling more complex and precise intelligent simulations. The security of smart contracts will also be continuously strengthened through formal verification, AI-assisted auditing, and other means, laying a solid foundation for the ecosystem. Looking ahead, Bittensor is expected to continue to break through in multiple dimensions and reshape the AI industry landscape in the future. On the technical front, with the overcoming of computational bottlenecks, the application of emerging distributed computing technologies and the phased achievements of quantum computing will exponentially improve the efficiency of model training, ena

This article will explore the current sentiment towards Ethereum ETFs and their impact on Ethena, including a review of the situation during Bitcoin ETF approvals. It will also examine the operation and potential impact of sUSDe’s yield mechanism. The Ethereum ETF could bring more institutional funds into the Ethereum ecosystem, increasing the demand for dollar-denominated yield-generating assets. As a high-yield synthetic dollar, sUSDe may attract investors looking to benefit from Ethereum market growth while maintaining dollar exposure.

Crypto Pulse focuses on the latest developments in the cryptocurrency industry, delivering up-to-date market analysis and insights.

This article explores Ethena’s business model, how USDe generates returns, and compares the strengths and weaknesses of Ethena and Tether. We’ll also look at where the stablecoin market may be headed and how Ethena, Tether, and others might compete in the future.

Crypto Pulse focuses on the latest developments in the cryptocurrency industry, delivering up-to-date market analysis and insights.

The fee switch is a mechanism for protocols to optimize their economic models, enhancing governance token value capture and boosting profitability. This article will explore the design and impact of fee switches in various protocols, highlighting their significance in DeFi.

Gate Research Daily Report: September 4, Both Bitcoin and Ethereum experienced significant declines In the last 24 hours, with market performance appearing weak. Bitcoin ETFs saw net outflows of $280 million, while Ethereum ETFs had net outflows of $47.4 million. The Governor of the Bank of Japan stated that interest rate hikes would continue if economic and inflation data meet expectations. Additionally, Aave has partnered with Sky to launch the Sky Aave Force initiative. In the last 24 hours, the crypto sector raised a total of $18.8 million, covering areas such as GameFi and blockchain security. On September 2, Ethena Labs announced the launch of its Season 3 airdrop campaign.

Symbiotic and Eigenlayer are two emerging protocols in the restaking field, but their design philosophies are vastly different. Symbiotic emphasizes permissionless and modular features, supports multi-asset and customizable parameters, and uses immutable core contracts, reducing governance risks. Eigenlayer, on the other hand, focuses on ETH and its derivatives, adopts a more centralized management approach, simplifying operations but presenting bundled risks. The launch of Symbiotic and its collaboration with the Mellow protocol offer more options and airdrop opportunities for the DeFi community. The competition and cooperation between the two will further drive the development of the restaking market.

Stablecoins are a significant presence in the cryptocurrency market. They are essentially defined as cryptocurrencies that are pegged to fiat currencies or other assets to achieve stable value. Currently, mainstream stablecoins are mainly distinguished based on the type of collateral and the degree of centralization in their issuance. Those backed by fiat currencies are mostly issued in a centralized manner and currently dominate the market. On the other hand, those backed by crypto assets or algorithmic stablecoins are mostly issued in a decentralized manner. Each category has its leading figures, and every stablecoin design framework has its advantages and disadvantages.

This article examines the current state of WLFI (World Liberty Financial), a cryptocurrency project associated with the Trump family. Since its launch in September 2023, WLFI—which claims Trump as its inspiration—has pursued a mission to democratize DeFi. Despite ongoing controversy about its ties to the Trump family, the project has raised $76.5 million. The WLFI multi-signature wallet now holds over $74.5 million in assets, mainly in cryptocurrencies like ETH, WBTC, and AAVE. The team is building partnerships with Aave and Ethena Labs as part of its focus on DeFi development.

Crypto Pulse focuses on the latest developments in the cryptocurrency industry, delivering up-to-date market analysis and insights.

This article explores the evolution of yield models within the DeFi ecosystem, as well as protocols that use elements like RWA (Real-World Assets) and basis trading to maintain yield and liquidity. The development of on-ramp and off-ramp solutions and changes centered around cross-chain interoperability will replace these centralized factors, enhance user convenience in the DeFi ecosystem, and continue to drive innovation in new DeFi protocols as blockchain usage increases.

In this article, we will examine the development process and various mechanisms of DeFi yields, and explore the types and specific examples of DeFi protocols that have emerged to overcome limitations faced during this evolution by utilizing centralized elements.

Gate Research's Weekly Market Review and Outlook covers Bitcoin and altcoin trends, macro liquidity, on-chain indicators, hot project updates, token unlock information, and key industry events, providing comprehensive analysis and predictions for the cryptocurrency market.