Ethena Pay integrates reserve yields into banking model

Ethena Pay is differentiating itself from other crypto banking services by allowing the protocol to retain reserve yields generated from USDe holdings. While the product is currently in an invite-only phase, it aims to create a flywheel effect where increased USDe demand supports the platform's pricing and rewards. ENA token holders are awaiting the activation of a fee-switch mechanism, which is tied to USDe supply milestones, as the protocol seeks to balance growth with token value.