---
title: "Supply USDe to the Aave V4 Ethena Ecosystem 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/7853280065052998321"
chain: "Ethereum"
protocol: "Aave"
type: "AAVE_V4_SPOKE_SUPPLY"
page: 1
items: 25
totalPages: 1
lastCampaignCreatedAt: 2026-09-17T10:06:43.000Z
generated: "2026-09-18T10:17:12.372Z"
---

# Supply USDe to the Aave V4 Ethena Ecosystem 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**: $14,974,638.97
- **APR**: 5.25%
- **Native APR**: —
- **Daily rewards**: $2,153.89
- **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 |
| --- | --- | --- | --- | --- | --- | --- |
| [0x2eef6e…](https://app.merkl.xyz/opportunities/7853280065052998321/campaigns/0x2eef6e99b59e7e99bcdf31e83530ca2c745373f119df4948cc4f02a24e926dc5.md) | live | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 5.25% | $2,153.89 | 2026-09-18 | 2026-09-25 |
| [0xcfe5b6…](https://app.merkl.xyz/opportunities/7853280065052998321/campaigns/0xcfe5b6f792951a5cc6732ed17bb1978bcfc86e7f797ab0e2fcda92b49e9c85f1.md) | past | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 0.00% | $0 | 2026-09-11 | 2026-09-18 |
| [0xd0560a…](https://app.merkl.xyz/opportunities/7853280065052998321/campaigns/0xd0560a6ca8cd5b0b7e35252ef59f53fefd30058781afd1777daf775b72e4ba37.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/7853280065052998321)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)