---
title: "Supply USDe to the Aave V4 Ethena Correlated Spoke (looping required)"
description: "This campaign is part of Ethena’s Liquid Leverage program, with Merkl acting as the distribution partner. To be eligible, users must also borrow stablecoins and maintain a health factor below 2."
canonical: "https://app.merkl.xyz/opportunities/14563968733557966068"
chain: "Ethereum"
protocol: "Aave"
type: "AAVE_V4_SPOKE_SUPPLY"
page: 1
items: 25
totalPages: 1
lastCampaignCreatedAt: 2026-09-17T10:06:42.000Z
generated: "2026-09-20T15:25:58.176Z"
---

# Supply USDe to the Aave V4 Ethena Correlated Spoke (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. To be eligible, users must also borrow stablecoins and maintain a health factor below 2.

## Key metrics

- **Total Value Locked**: $0.1
- **APR**: 5.25%
- **Native APR**: —
- **Daily rewards**: $0
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Aave
- **Protocol trusted**: Yes, verified by DefiLlama (https://defillama.com/protocol/aave-v3)

## Tokens

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

## Campaigns : page 1 of 1 (3 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0xf32616…](https://app.merkl.xyz/opportunities/14563968733557966068/campaigns/0xf32616df13e76c1059ce6a6a6f18fb93e57af214bc07a91bf4297113b0eea87b.md) | live | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 0.00% | $0 | 2026-09-18 | 2026-09-25 |
| [0xbf02b8…](https://app.merkl.xyz/opportunities/14563968733557966068/campaigns/0xbf02b8c2b370e017a9efcb3bed3d0400151d840960660c1ea85e66be63443584.md) | past | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 0.00% | $0 | 2026-09-11 | 2026-09-18 |
| [0x8c26ad…](https://app.merkl.xyz/opportunities/14563968733557966068/campaigns/0x8c26add4f0829b062d130b1e0972b3451b11d66f86b1fd7ce736533457928bc4.md) | past | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 0.00% | $0 | 2026-09-04 | 2026-09-11 |

## Participate

- [Deposit](https://pro.aave.com/explore/asset/1/0x4c9EDD5852cd905f086C759E8383e09bff1E68B3)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/14563968733557966068)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)