During the month of November, we hosted a month-long Hackathon alongside Encode, focused on building the future of Internet Money. Teams and individuals were encouraged to innovate with USDe, utilizing the synthetic dollar across DeFi and other new, exciting ways.
With over 60+ submissions, the mentors and judges have narrowed down the top 3 submissions along with the winners of each bounty.
Best Overall Application
1. Bento ($10,000)
Bento develops liquid, non-custodial, omni-chain savings offering stable, diversified yields on major assets through a multi-collateral synthetic stablecoin fully backed by diverse stablecoins and aggregated yields from DeFi, CeFi, and TradFi. Its decentralized asset management approach distributes both value and ownership to users, who can choose between guaranteed native yield or speculative governance token emissions.
2. Fiva ($5,000)
A yield tokenization protocol on TON, inspired by Pendle, brings USD yield opportunities to Telegram’s global user base—especially in underserved regions—by splitting yield-bearing assets into principal tokens (PT) and yield tokens (YT). A custom AMM supports efficient swaps among these tokens in a single pool, with the solution already live on TON testnet and a roadmap focused on a seamless user experience.
3. Buzzify ($2,500)
A social-media-focused prediction market platform that enables users to bet on a content creator's future growth via a unique score calculation. By accurately forecasting a creator's score, participants share in the pooled rewards, bringing trust and transparency to the betting environment.
Runner Ups
1. Omni-Staker ($1,000)
2. EthenaFun ($1,000)
3. Aavena ($1,000)
Most Innovative Use of sUSDe Rewards
1. ProtectFi ($2,000)
A decentralized insurance solution that leverages AVS Layer nodes from EigenLayer to independently validate claims based on external URLs, employing zkTLS to securely prove data and storing the proof on IPFS for transparent oversight. This approach ensures clarity and trust while supporting both on-chain (e.g., stablecoin peg validation) and off-chain (e.g., commodity price protection or disaster coverage) use cases.
2. Crediflex ($2,000)
A decentralized undercollateralized lending protocol that uses AVS with EigenLayer for credit scoring and zkTLS to securely fetch proofed data for dynamic Loan-to-Value (LTV) ratios based on on-chain activity. This allows users to borrow more than their collateral by factoring in parameters like wallet age, token holding diversity, total transactions, and multi-chain activities.
3. Ethena Prediction Market ($2,000)
A decentralized binary outcome prediction market platform that uses Ethena’s sUSDe stablecoin for transactions, resolved by the market owner, and rewards participants according to winning share ownership. It integrates LayerZero OAPP for cross-chain compatibility and Goldsky Subgraph for real-time data updates, combining prediction markets with seamless blockchain interoperability.
4. Torch ($2,000)
A yield optimization protocol that amplifies sUSDe returns from 29% to up to 81% APY through intelligent leverage strategies. Deployed on Eth forknet with a user-friendly front end, it’s built for the Ethena ecosystem to provide secure, high-yield opportunities for sUSDe holders.
5. Pulse ($2,000)
A USDe-native crypto neobank that tackles financial challenges in unstable economies by providing payment infrastructure with analytics, staking, bridging between ble-testnet and Sepolia, on/off ramps, and a crypto debit card for USDe spending. This integrated suite of services aims to foster financial inclusion and empower individuals worldwide.
Best non-DeFi app that uses USDe
1. Ethbank ($1,500)
A next-generation crypto neobank replicating traditional banking products, starting with a high-yield savings account (staking USDe via Ethena) and a lending pool that funds real estate projects at a guaranteed return rate. The bank stakes user deposits for additional rewards and lends them to verified institutions, ensuring repayment and rewards for depositors.
2. Game of Pots ($1,500)
A no-loss lottery game leveraging Ethena’s sUSDe APY to provide a savings pool where the principal remains safe and withdrawable at vault maturity. All transactions use the USDe stablecoin, while Conduit Oracle VRF ensures fair and transparent winner selection.
Best use of Goldsky Subgraph and/or Mirror Pipelines
1. E-Sky ($2,500)
A real-time blockchain explorer for the Ethena ecosystem that focuses on USDe tokens, leveraging Goldsky for efficient data indexing and CoinMarketCap for up-to-date market metrics. Built with Next.js and Tailwind CSS, it offers a responsive interface for tracking transactions, staking activities, and minting events.
2. NoLossToken ($1,500)
A decentralized platform for launching new tokens with a “no loss” feature, enabling fully refundable tokens and creator yield generation. Creators benefit from yield on locked USDe, while users can reclaim their initial investments if they choose to exit the project.
Best Use of LayerZero O-App
1. Omni-Staker ($2,500)
An omni-staking solution leveraging LayerZero that lets L2 users stake compatible assets without transacting on L1, saving on fees. By batching stake and unstake requests, users pay only a fraction of what they’d normally spend to perform the same operations individually.
2. Bento ($1,500)
Bento develops liquid, non-custodial, omni-chain savings offering stable, diversified yields on major assets through a multi-collateral synthetic stablecoin fully backed by diverse stablecoins and aggregated yields from DeFi, CeFi, and TradFi. Its decentralized asset management approach distributes both value and ownership to users, who can choose between guaranteed native yield or speculative governance token emissions.
What’s next?
If you’d like to watch the full Finale video, watch here.
With a diverse set of submissions and high quality submissions from teams eager to build with USDe, we are excited for the future of the Network. With our upcoming Accelerator program starting in January, we hope to see projects grow into successful startups paving the way for innovation with Internet Money.
