---
title: "Lend USDe on Aave (looping required)"
description: "This campaign is part of Ethena’s Liquid Leverage program, with Merkl acting as the distribution partner in collaboration with the ACI. To be eligible, users must also borrow and maintain a health factor below 2."
canonical: "https://app.merkl.xyz/opportunities/11521673201667687989"
chain: "Ethereum"
protocol: "Aave"
type: "AAVE_SUPPLY"
page: 1
items: 25
totalPages: 1
updated: 2026-09-11T12:34:27.000Z
---

# Lend USDe on Aave (looping required)

## Back to

- [Opportunities index (HTML)](https://app.merkl.xyz/)
- [Ethereum chain (markdown)](https://app.merkl.xyz/chains/ethereum.md)
- [Aave protocol (markdown)](https://app.merkl.xyz/protocols/aave.md)

This campaign is part of Ethena’s Liquid Leverage program, with Merkl acting as the distribution partner in collaboration with the ACI. To be eligible, users must also borrow and maintain a health factor below 2.

## Key metrics

- **Total Value Locked**: $619,600,187.17
- **APR**: 4.75%
- **Native APR**: 0.82%
- **Daily rewards**: $65,240.88
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Aave
- **Protocol trusted**: Yes — verified by DefiLlama (https://defillama.com/protocol/aave-v3)

## Tokens

- [aEthUSDe](https://app.merkl.xyz/tokens/aEthUSDe.md)
- [USDe](https://app.merkl.xyz/tokens/USDe.md)

## Campaigns — page 1 of 1 (1 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0x900219…](https://app.merkl.xyz/opportunities/11521673201667687989/campaigns/0x9002195ef459b61ac2ec2c0f78663b3764bf0fecc1d6c87ad568fb6d964a0038.md) | live | [aEthUSDe](https://app.merkl.xyz/tokens/aEthUSDe.md) | 4.75% | $65,240.88 | 2026-09-11 | 2026-09-18 |

## Participate

- [Deposit](https://app.aave.com/reserve-overview/?underlyingAsset=0x4c9EDD5852cd905f086C759E8383e09bff1E68B3&marketName=proto_mainnet_v3)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/11521673201667687989)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)