Ethena utilizes pt-usde/susde/eusde, having siphoned nearly $4 billion in stablecoins on Aave, where earn players rush for limits every day, showcasing an impressive growth path in TVL. The efficiency of blockchain-native finance is evident here, and the transparency of blockchain makes risks comparatively more controllable than traditional methods. At the same time, Aave's TVL and protocol revenue are also reaching new highs daily.