Ethena’s USDe goes native on OKX’s X Layer, with Aave first in line
@ethena, the protocol behind $ENA, has made its USDe dollar token native on @XLayerOfficial, the layer 2 network run by OKX. Users can hold and swap the token across the chain. The first inte
A
AnonymousCryptoCompass newsroom
October 23, 2026
3 min read
NEWS
CryptoCompass editorial visual for defi coverage.
@ethena, the protocol behind $ENA, has made its USDe dollar token native on @XLayerOfficial, the layer 2 network run by OKX. Users can hold and swap the token across the chain. The first integration is an @aave v3 market that gives OKX Wallet users direct onchain access to $USDe.
Liquidity provision and one-click USDe looping are due to follow through @wallet. Looping repeats borrowing and depositing to stack yield. Ethena says this is the first time OKX Wallet's millions of users can access its product suite.
What changes for USDe holders
USDe is a synthetic dollar designed to hold a value near one US dollar through collateral and hedged positions, according to a market summary by Ad-hoc-news. The same report cites an Aave assessment dated October 12, 2026, which counted 4.76 billion USDe outstanding.
The same Aave assessment is a useful reference point for how limited USDe's presence on X Layer was before this launch. It recorded 62.78 USDe on the chain and said the token had been bridged through LayerZero rather than minted natively at that point.
Aave's risk reviewer, LlamaRisk, supported listing USDe on the Aave V3 X Layer instance, on the condition that enough local DEX liquidity was in place for liquidators. Its assessment thread on the Aave governance forum said the team was expected to supply $5 million in DEX liquidity before launch.
About X Layer and the Aave link
X Layer is OKX's zero-knowledge layer 2 network. According to OKX's launch announcement, it was built with the Polygon Chain Development Kit and uses the OKB token for gas fees. OKX later said it wanted X Layer to focus on DeFi, payments and real-world asset applications, as set out in its PP upgrade announcement.
Aave is already a familiar venue for USDe. Oak Research notes that looping USDe on Aave and Pendle was one of the reasons behind Ethena's growth. Bringing a native version of the token to X Layer, with an Aave market in place, gives OKX Wallet users a direct route into that activity without leaving the wallet.
Looping amplifies both yield and risk, since borrowed funds are redeployed into the same position. Users should check collateral terms and liquidity conditions on the new market before using it.
TLDR PURR stock climbs 1.15% to $8.78 after Hyperliquid expands its buyback to $100M. Hyperliquid triples its repurchase capacity, lifting its buyback cap to $100M. About $72M remains availab
The senator is asking Tether to explain payments to a consulting firm co-owned by the former White House crypto adviser Senator Richard Blumenthal has opened an inquiry into Tether, the issue
$10,000 in Zcash at this morning’s $1,177.59 buys 8.49 ZEC. If ZEC simply reclaims its September 26 high of $1,698, that position is worth $14,419. The bet rests on one dated fact: Zcash’s NU